President Bola Tinubu is set to forward an executive bill to the National Assembly aimed at amending the National Identity Management Commission (NIMC) Act.
This bill seeks to mandate the registration and issuance of the National Identity Number (NIN) to all residents of Nigeria, including foreigners, for taxation purposes.
The proposal is part of a series of economic stabilization bills approved during Monday’s Federal Executive Council meeting.
Special Adviser to the President on Information and Strategy, Bayo Onanuga, disclosed this on Wednesday while addressing State House correspondents at the Presidential Villa, Abuja.
He was accompanied by the Senior Special Assistant to the President on Digital Strategy, Engagement, and Communications, O’tega Ogra.
According to Onanuga, the economic stabilization package includes around 20 bills, among them amendments to the Nigerian Port Authority and Nigerian Maritime Administration and Safety Agency (NIMASA) Acts.
These amendments aim to ensure that transactions conducted by the two agencies are paid for in Naira, as part of the administration’s efforts to strengthen the national currency and reduce the dollarization of the economy.
Another key component of the economic bills is the Tertiary Education Amendment Bill 2024, which includes changes to the Tertiary Education Trust Fund (TETFUND) Act.
If passed, the amendment will allocate 30 percent of TETFUND’s income to the Nigerian Education Loan Fund, with only 5 percent used for TETFUND’s operations.