• SUVs, boats, sports cars now attract 70% • Rice, alcoholic spirits 60 %
• Fairly used(tokunbo) cars, 35 % • Industrial oils, bolts, others down to five per cent
The Federal Government has raised duties on luxury goods such as yachts and Sport Utility Vehicles (SUVs) imported into the country.But also affected are some food items such as rice, salt and sugarcane that have local alternatives.
The plan to raise the duties which was first contemplated by former Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo- Iweala under the immediate past administration of Dr. Goodluck Jonathan had remained on the drawing board due to Jonathan’s loss of the presidential election to the incumbent President Muhammadu Buhari and the consequent change of officials between the former administration and the current one.
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Government raises import duties on consumable, luxury goods
• Fairly used(tokunbo) cars, 35 % • Industrial oils, bolts, others down to five per cent
The Federal Government has raised duties on luxury goods such as yachts and Sport Utility Vehicles (SUVs) imported into the country.But also affected are some food items such as rice, salt and sugarcane that have local alternatives.
The plan to raise the duties which was first contemplated by former Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo- Iweala under the immediate past administration of Dr. Goodluck Jonathan had remained on the drawing board due to Jonathan’s loss of the presidential election to the incumbent President Muhammadu Buhari and the consequent change of officials between the former administration and the current one.
READ MORE
Government raises import duties on consumable, luxury goods
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