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Tinubu eyes tax break for companies, other interventions to reduce inflation

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Minister of Finance, Wale Edun has said President Bola Ahmed Tinubu is targeting fresh fiscal measures, including outright tax breaks for companies employing more Nigerians, and others to reduce inflation. Edun disclosed this in a recent interview on AIT’s Money Line program.

He said the fiscal incentives including the ranges of import duties exemptions will be laid out in an executive order by the President. “The inflation reduction act will now contain a range of import duties, exemptions, lowering of tariffs, and outright tax breaks for employment. If you employ more people, you will be given a tax break against it.

'So, a range of fiscal incentives will be laid out in an executive order which Mr. President will in due course sign,” he said. His comments came amid the recent protests against hunger and high cost of living in Nigeria, tagged, #Endbadgovernance. Recall that the Nigeria Customs Service said it has commenced the zero-import duties on essential food items such as rice, and wheat.

 

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