STORY: Nigerian president signs new executive orders to suspend tax policies
DATELINE: July 7, 2023
LENGTH: 00:01:18
LOCATION: Abuja
CATEGORY: ECONOMY

SHOTLIST:
1. various of President Bola Tinubu
2. various of port, containers, and street views in Nigeria
3. various of the presidential team briefing the media
4. SOUNDBITE (English): DELE ALAKE, Spokesman for president

STORYLINE:

Nigerian President Bola Tinubu has signed four new executive orders, with an aim to adjust previous tax policies by the country's immediate past administration, a presidential spokesman said on Thursday.

Dele Alake, the spokesman for the president, told reporters in Abuja, the Nigerian capital, that the executive orders included the suspension of a five-percent excise tax on telecommunication services and excise duties escalation on locally-manufactured products, as well as a customs excise tariff variation amendment order, and a finance act order.

Alake said, with the signing of the new executive orders, Tinubu aimed to ameliorate the negative impacts of the previous tax policies on businesses and chokehold on households across affected sectors.

The official said the executive order by the president further suspended the country's newly introduced "green tax" by way of excise tax on single-use plastics, including plastic containers and bottles.

Tinubu also suspended the import tax adjustment levy on certain vehicles.

SOUNDBITE (English): DELE ALAKE, Spokesman for Nigerian president
"The government will, therefore, continue to give requisite stimulus by way of friendly policies to allow businesses to flourish in the country."

Alake added that the Nigerian leader had made a commitment to continually review complaints about multiple taxation, local and anti-business inhibitions.

Xinhua News Agency correspondents reporting from Abuja.
(XHTV)