In case you are wondering why a president who “belong to everybody and belong to nobody” exempts certain Nigerians like minimum wage earners, businesses making less than ₦10,000,000 from paying tax, the reasons are no longer far fetched as provided recently via interview by the Senior Special Assistant to the President on Media and Publicity (Office of the Vice President) Mr. Laolu Akande.
The Senior Special Adviser accredits this policy direction to the newly enacted Finance Act which he defended to be in line with the President’s philosophy of taking care of the average man as regards taxes. Adding that earners of minimum wage and businesses making less than ₦10, 000,000 don’t have to pay any income tax. “This is in a bid to take care of the regular and majority of our people,” he said.
On diversification agenda. Mr. Akande has this to say,
“A lot is going on in agriculture. A lot is going on in communication and other sectors,”
“Our economy is fairly diversified, if you look at our GDP you would see that a lot is going on in agriculture, telecommunications, financial technology, and services so the economy is diversified essentially.
“The problem is how we can get the foreign earnings from the diversification and I know that the National Export Promotion Council is coming with a big injection in that area that will encourage more of our products to be used in this regard.
On the National Economic Sustainability Plan deployed to cushion the effect of COVID-19 and put money in the hands of Nigerians, he said,
“Take the Solar Power Naija for example, we are planning to install 5 million solar installments that will touch about 25 million Nigerians, so this will involve a lot of manufacturing and assembling of the solar components, people that will handle installments, maintenance, work in the area, etc. Thousands of jobs will be created from this program alone,”.
Taxmobile.Online gathered from his interview on Channels TV that the government official further stressed the positive impact of the Buhari government’s Social Investment Programmes (SIPs), which includes the TraderMoni, MarketMoni, N-Power, among others, have been commended locally and internationally, adding that the SIPs have been endorsed by international agencies and credible non-governmental organisations (NGOs).