FG to remove tax on house rents, public transports, others – Taiwo Oyedele

Taiwo Oyedele, chairman of the presidential committee on fiscal policy, announced that the committee has recommended to the federal government the removal of taxes on essential goods and services such as food, public transportation, and housing. These recommendations aim to ease the financial burden on Nigerians by eliminating taxes on critical necessities.

Oyedele disclosed this during an interview with Channels TV in Abuja on Monday. He highlighted that the proposal includes the removal of value-added tax (VAT) on these essential items. According to him, the plan will soon be approved by President Tinubu and forwarded to the National Assembly for inclusion in the country's tax laws.

"We’ve identified key necessities—food, housing, transportation, education, and healthcare—and proposed removing almost all taxes on them, including VAT," Oyedele explained. "This is to make these basic needs more affordable for Nigerians. Shared public transportation will be entirely tax-free. However, if you hire a taxi, taxes will apply, as it's assumed you’re not among the poorest. But if you take a bus, it will be tax-free."

On the subject of employment, Oyedele added that the committee has also proposed tax incentives to encourage job creation, particularly in the private sector. The plan offers tax exemptions to companies that significantly expand their workforce.

“We’ve proposed incentives for businesses that provide transportation support to their employees and for those that hire more workers than usual, which will help stimulate job growth,” Oyedele elaborated.