LAGOS JULY 7TH (NEWSRANGERS)-The Comptroller-General of the Nigeria Customs Service, NCS, Adewale Adeniyi, said yesterday the federal government has reduced the import tariffs on used vehicles from 15 per cent to five and on brand-new vehicles from 20 per cent to 10. Adeniyi spoke when he appeared before the House of Representatives Committee on Customs and…
LAGOS JUNE 29TH (NEWSRNAGERS)-President Bola Tinubu has signed an executive order to suspend import duties and value-added tax on essential medical supplies imported into the country. This is aimed at easing the high cost of locally producing pharmaceuticals, diagnostics, and medical devices such as needles and syringes, and biological among others. Muhammad Ali Pate, minister…
LAGOS NOVEMBER 29TH (NEWSRANGERS)-Chairman of Innoson Vehicles Manufacturing Company Limited, IVM, Chief Innocent Chukwuma, has cautioned that Federal Government’s plan to reduce the import duties and levies on buses, tractors and other motor vehicles as contained in the recent 2020 Finance Bill, will not only be a disincentive to investments, but will also set Nigeria’s automotive…
