President Bola Tinubu is set to present an executive bill to the National Assembly aimed at amending the National Identity Management Commission (NIMC) Act.
This legislation will require all individuals living in Nigeria, including foreigners, to register for a National Identity Number (NIN) for taxation purposes.
This initiative is part of broader economic stabilization measures approved during the recent Federal Executive Council meeting.
The Special Adviser to the President on Information and Strategy, Bayo Onanuga, disclosed this while briefing State House correspondents at the Presidential Villa Abuja on Wednesday, September 25, 2024, alongside the Senior Special Assistant to the President on Digital Strategy, Engagement and Communications, O’tega Ogra.
Onanuga said the economic stabilization bills, which are about twenty in number also include bills to amend the Acts establishing the Nigerian Port Authority and the Nigerian Maritime Administration and Safety Agency (NIMASA).
According to him, the two bills seek to ensure transactions by the two agencies are paid for in Naira.
He said the decision is part of measures by Tinubu’s administration to promote the national currency and reduce the dollarization of Nigeria’s economy.
Also included in the economic stabilization bills is a tertiary education amendment bill 2024, including an amendment to the Tertiary Education Trust Fund (TETFUND) Act.
The new bill according to Onanuga, when passed into law, will ensure that 30 per cent of TETFUND’s income goes into the Nigerian Education Loan Fund while only 5 per cent of used for TETFUND’s operations.
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