No Increase in tariffs for food or luxury goods – FG

The Federal Ministry of Finance, yesterday, clarified that import duties on food items and luxury goods have not been raised, as recently reported by some media (not vanguard) The  Director (Information), Alh Salisu Na’Inna, said in a statement,

“The Federal Ministry of Finance wishes to categorically state that the correct position is that, the 2016 FPM  did not involve any upward review of tariff on the affected food items and luxury goods. On the contrary, tariffs for those items remained at their 2015 levels, while duties for some other items were actually reduced.
A comparison of the  2015 Fiscal Policy Measures  Circular dated 20th March, 2015 and the  2016 Fiscal Policy Measures dated 29th November, 2016 will affirm this position.

“With regards to the 20 per cent duty on pharmaceutical products in the 2016 Fiscal Policy Measures, it should benoted that pharmaceutical products were already in the import prohibition list.
“This is in support of Government’s intention to give further encouragement and   desirable protection to  local manufacturers of Pharmaceutical products and   ensure that those who, despite the prohibition, import such products under special permission, pay the required duties.

“This clarification is aimed at providing the Nigerian media and other stakeholders with   the correct information on such sensitive matters and to urge all interested parties to cross-check information   with relevant authorities for accuracy.

“This is especially necessary at these challenging times when the Federal Government is putting   extra efforts to encourage our local industries and manufacturers”.


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