President Bola Ahmed Tinubu has signed four Executive Orders into law to curb arbitrary taxation policies in the country.

The Special Adviser, Special Duties, Communication, and Strategy, to the President, Dele Alake, announced the policy directive on Thursday during an interactive session with State House Correspondents.

Among the Executive Orders signed into law by the President, the Finance Act (Effective Date Variation) Order, 2023, has now deferred the commencement date of the changes contained in the Act from May 23, 2023, to September 1, 2023. This is to ensure adherence to the 90-day minimum advance notice requirement for tax changes as contained in the 2017 National Tax Policy.

The second Order involves the Customs and Excise Tariff (Variation) Amendment Order, 2023.

Alake said this has shifted the commencement date of the tax changes from March 27, 2023, to August 1, 2023, in line with the National Tax Policy.

He said Mr. President has given an Order suspending the 5% Excise Tax on telecommunication services as well as the Excise duty escalation on locally manufactured products.

“Further to his commitment to creating a business-friendly environment, the President has ordered the suspension of the newly introduced Green Tax by way of Excise Tax on Single Use Plastics, including plastic containers and bottles.

“In addition, the President has ordered the suspension of the import tax adjustment levy on certain vehicles.

As a listening leader, the President issued these orders to ameliorate the negative impacts of the tax adjustments on businesses and households across affected sectors.

“His Excellency will not exacerbate the plight of Nigerians,” Alake stated.