FG lowers tariff on tomatoes, others,

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  •  reinforces ban on spaghetti, others

As part of fiscal policy measures of the federal government for the country, it has announced the reduction in the import duties of 115 items in various sectors of the economy.

According to National Daily investigation, the reduction which was announced by the Minister of Finance, Mrs. Kemi Adeosun, saw about 89 items from a nationalist containing 91 products reduced from 10 per cent to five per cent.

The items are: milk and cream ; tea ; fats of sheep or goat ; malt extract ; tomatoes prepared or preserved by vinegar; under natured ethyl alcohol for medical , pharmaceutical or scientific purpose ; petroleum oils and oils obtained from bitumen minerals other than crude .

Others are hypochlorites ; synthetic organic colouring matter ; grease for treatment of textile materials ; prepared glues and adhesives ; activated carbon ; picking preparations for metal surfaces ; organic composite solvents and thinners ; mixes alkylbenzenes ; and industrial monocarboxylic fatty acids.

In the same vein, government also approved a reduction from 10 per cent to five per cent for tubes , pipes , hoses , sheets , foil , tape , polyethylene , paper and paper board , yarn , synthetic staple fibres , semi -finished products of iron or non – alloy steel , stranded wire ropes , and completely knocked down or unassembled for the assembly industry .

For items such as automatic circuit breakers, switches, lamp – holders, electrical apparatus for switching or protecting electrical circuits, the Federal Government gave an approval for the reduction of their import duties from 20 per cent to 10 per cent.

For machineries and equipment used in sectors such as agriculture, cement, hospitality, power, iron and steel, solid minerals, textile and aviation, the government, according to the circular, approved a zero import duty.

Before the approval, the import duties for machineries and equipment used in these sector were put at five per cent.

The circular also reinforced the ban placed on the importation of some items.

Some of them are refined vegetable oil , cocoa butter , spaghetti /noodles , fruit juice in retail packs , bagged cement, soaps and detergent , mosquito repellent coils , corrugated paper and paper boards , telephone recharge cards and vouchers , carpets and rugs , all types of footwear , bags and suitcases, and used motor vehicles above 15 years from year of manufacture.

The government also banned the importation of live or dead birds, waters, liquid dietary supplements and medicament such as paracetamol tablets and syrup, chloroquine tablets and syrup, among others.

 

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