LAGOS – Mr Malanta Yusuf, a Deputy Controller, Nigeria Customs Service, Apapa Area Command, on Wednesday said that the transformation agenda had impacted positively on the importation of raw materials.
He told the News Agency of Nigeria (NAN) in Lagos that the Federal Government’s quest for an enhanced local manufacturing sector made the duty on imported raw material low.
He said materials meant for educational purposes enjoyed zero per cent duty to encourage quality and affordable education and urged people to develop better understanding of how trade works and how policies drive revenue.
“The transformation agenda of Mr President is one of the best agenda that I have ever seen, empowering the local industries, boosting employment.
“People should not expect luxury items more into Nigeria, which has a duty rate of 35 per cent.
“People should understand that the President is now trying to make sure that he encourages infant industries.
“Therefore, their raw materials and machineries are going to go into a very low rate of duty. It is not like before when you would see in the tariff, 50 per cent duty.
“But most of the raw materials are five per cent. Like educational items, educational books, Zero per cent. It is a big encouragement by the President,” he said.
Yusuf said that the Customs was still on course in its revenue generation for the government, even as it supports trade through effective service delivery.(NAN)