Emmanuel Ochayi
The Nigerian government is set to harness mobile phones as means of facilitating the transfer of conditional cash payments to 15 million households.
This approach was revealed in a set of “quick win” recommendations submitted to the President by the Fiscal Policy and Tax Reforms Committee, with Taiwo Oyedele at the helm.
The announcement follows last week’s unveiling of a plan by the Presidency to provide a cash transfer of N75,000 to 15 million households, aimed at mitigating the effects of subsidy removal.
President Bola Ahmed Tinubu emphasized that the primary objective is to lift as many families as possible out of poverty.
The Fiscal Policy and Tax Reforms Committee, under the leadership of Taiwo Oyedele, has proposed a system where citizens’ mobile phones will be utilized to validate and simplify the fund transfer process.
While the exact methodology remains unspecified, the report indicates that a national portal will be established to monitor spending by the federal, state, and local governments.
In a tweet, Taiwo Oyedele shared the key recommendations, which not only include mobile phone facilitation for conditional cash transfers but also introduce a spending framework for subsidy removal and forex reform windfall, along with the creation of a national portal to track government spending.
Additionally, the federal government is expected to suspend multiple taxation, particularly in the informal sector, which has been a hindrance to the growth of small businesses in the country. The statement highlights an increase in personal income tax exempt threshold and personal relief allowance.
Following this development, the President has ordered the immediate implementation of the “quick win” recommendations across all Ministries, Departments, and Agencies (MDAs) of the federal government.
In a press release, Special Adviser to the President on Media and Publicity, Ajuri Ngelale, conveyed the President’s directive, emphasizing the need for seamless and synchronized implementation across government institutions.
Furthermore, the President has committed to prioritizing the presentation of these recommendations during the next Federal Executive Council (FEC) meeting, scheduled for the upcoming Monday. In this regard, the President is keen to ensure that tax policy implementation focuses on “taxing the fruit” rather than “taxing the seed.”
Emmanuel Ochayi is a journalist. He is a graduate of the University of Lagos, School of first choice and the nations pride. Emmanuel is keen on exploring writing angles in different areas, including Business, climate change, politics, Education, and others.
