President Bola Tinubu has signed four Executive Orders, including the suspension of the five per cent Excise Tax on telecommunication services and the escalation of Excise Duties on locally manufactured products.

The Finance Act (Effective Date Variation) Order defers the commencement date of changes contained in the Act, aligning it with the 90-day notice period required by the National Tax Policy.

The Customs, Excise Tariff (Variation) Amendment Order also shifts the commencement date of tax changes.

The President has suspended the Green Tax on Single Use Plastics and the Import Tax Adjustment levy on certain vehicles.

These orders aim to mitigate the negative impact of tax adjustments on businesses and households, and the President is committed to addressing concerns regarding multiple taxation and anti-business obstacles.

The administration seeks to foster business growth through friendly policies and consultative fiscal frameworks.