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Home | Small Businesses, Traders to Enjoy Tax Relief

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Small Businesses, Traders to Enjoy Tax Relief

Tapre Timine
Tapre Timine
Published: June 15, 2025
Last updated: June 15, 2025
1 Min Read
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President Bola Tinubu
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In a bid to alleviate the economic burden on small businesses and traders, President Bola Tinubu is contemplating a six-month suspension of taxes, levies, and charges on certain sectors.

Daily Report Nigeria reports that the proposed measure, outlined in a draft executive order, aims to curb inflation and reduce food prices nationwide.

The tax suspension is expected to benefit various groups, including Okada riders, goods transporters, fuel transporters, wheelbarrow and cart pushers, shop owners, and market traders.

READ ALSO: FG Approves Regulation Against Money Rituals, Smoking in Movies

Dated May 1, the draft cited the Tinubu’s powers under Section 5 of the Nigerian Constitution, Section 38 of the Value Added Tax Act, and other relevant authorities.

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The suspension would apply to various taxes and levies, including road haulage tax, business premises registration, and animal trade and produce sales tax.

Furthermore, the order also directed states and local governments to support the implementation of the tax suspension.

If approved, the development could provide great relief to small businesses and traders, contributing to the government’s efforts to stimulate economic growth and reduce inflation.

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