President Tinubu is set to propose the NIN Registration Bill for Foreign Residents’ Taxation.
NewsOnline Nigeria reports that President Bola Tinubu is set to forward an executive bill amending the National Identity Management Commission (NIMC) Act to the National Assembly mandating all residents of Nigeria, including foreigners, to register for the National Identity Number (NIN), enabling them to be taxed.
Bayo Onanuga, Special Adviser to the President on Information and Strategy, made this known while briefing State House correspondents at the Presidential Villa on Wednesday. He was accompanied by O’tega Ogra, Senior Special Assistant to the President on Digital Strategy, Engagement, and Communications.
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“This bill will amend the law that was made some years ago, and it now provides, if the National Assembly passes that bill, that everybody living in Nigeria, foreigners, all of them will now be registered and be given tax identity,” Onanuga stated.
He further emphasized that once foreigners engage in income-earning activities within the country, they will be taxed under Nigeria’s tax framework. “Once you are doing some work here and you are earning income, you will be registered and given tax identity and you will be taxed, and you come under our tax structure,” he said.
The bill, part of broader economic stabilization efforts, was approved during the Federal Executive Council meeting on Monday to ensure that both Nigerians and foreign residents are captured in the country’s tax system through NIN registration.
