Jubilation as President Buhari announces new policy that will benefit minimum wage earners
Zamfara Reporters November 24th, 2020
President Buhari has announced a new economic measure to ease the financial burden of Nigerians not earning above the minimum wage
The president said a new bill is being proposed to ensure those in this category do not pay income tax
– The goal, according to the president, is to ensure ordinary Nigerians are protected from the impact of inflation
President Muhammadu Buhari has announced his administration’s plan to exempt those earning the country’s minimum wage, N30,000, from paying income tax.
The president disclosed this via a thread of tweets posted on the official page of the Nigerian presidency on Monday, November 23.
The tweets read:
“We are proposing in the new Finance Act that those who earn minimum wage should be exempted from paying income tax.”
The president explained that the proposed tax exemption will complement the tax breaks given to small businesses in the country in 2019.
According to him, the tax exemption and tax breaks are in line with his administration’s promises to reduce the cost of transportation and the impact of inflation on ordinary Nigerians.
President Buhari said the economic measures will also help to further stimulate the economy.
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