No increment on import duties on food items, luxury products – Nigerian Govt

The federal government on Friday said it has not increase import duties on food items and luxury products. 

A statement discharged by the Director of Information, Federal Ministry of Finance, Salisu Dambatta, expressed that the 2016 Fiscal Policy Measures, FPM, did not include any upward survey of tariff on certain food items and luxury products. 

Mr. Dambatta clarified that tariff for the

items remained at their 2015 levels, while duties for some different items were really lessened.

According to the statement, a correlation of the 2015 Fiscal Policy Measures and the 2016 Fiscal Policy Measures would affirm the reduction. 

“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,” Mr. Dambatta said.

Remarking on the 20% duties on pharmaceutical items in the 2016 Fiscal Policy Measure, the statement said that pharmaceutical items were in the import restriction list. 

Mr. Dambatta clarified that the move is in support of nearby makers of pharmaceutical items, including that the individuals who import the items under unique authorization are ordered to pay the required duties.  

“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.”