• By Kunle Awosiyan
    In
    Jan 06, 2017
    0 Comments
    Buhari

    The Federal Government has approved a reduction in the import duties of 115 items in various sectors of the economy.
     
    The Minister of Finance, Kemi Adeosun, says the move is in line with the provisions of the Economic Community of West African States, ECOWAS, common external tariff.
     
    For the national list consisting of 91 products, a downward review was approved for 89 items.
     
    Import duties were reduced from 10 per cent to five per cent on milk and cream; tea; malt extract; tomatoes prepared or preserved by vinegar; under natured ethyl alcohol for medical, pharmaceutical or scientific purpose; 
     
    Others are grease for treatment of textile materials; prepared glues and adhesives; tubes, pipes, hoses, sheets, foil, tape, polyethylene, paper and paper board, among other items.

    Meanwhile, the ban on importation of all vehicles through Nigeria's land borders has taken effect since the new year and now vehicles are stuck at the border posts. 
     
    There are concerns that the effect will be hard on Nigerians.
     
    Maritime and international trade consultant, Lucky Amiwero, wants government to review the 2013 auto policy and implementation frame work, in line with global best practices. 

     

    LEAVE A REPLY

    0 Comments

    CAPTCHA
    This question is for testing whether or not you are a human visitor and to prevent automated spam submissions.
    Image CAPTCHA
    Enter the characters shown in the image.
    Refresh Type the characters you see in this picture. Type the characters you see in the picture; if you can't read them, submit the form and a new image will be generated. Not case sensitive.  Switch to audio verification.
  • Related Posts

  • Post Comment to Facebook