The Nigeria Customs Service (NCS) has announced requirements for the duty-free food importation.
The Nigeria Customs Service has announced requirements for the duty-free food importation.it has began implementing the zero percent import duty and exemption of value-added tax on basic food items.the suspension of duties, tariffs, and taxes on the importation of food staples through land and sea borders to reduce inflation.
“However, it is important to emphasise that while this temporary measure is intended to address current hardships, it does not undermine the long-term strategies put in place to safeguard local farmers and protect manufacturers. NCS also said companies importing husked brown rice, grain sorghum, or millet need to own a milling plant with a capacity of at least 100 tons per day, operate for at least four years and have enough farmland for cultivation.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Nigeria Customs highlights conditions for companies to access zero-duty food import waiverCompanies wishing to import husked brown rice, grain sorghum, millet, maize, wheat, and beans at zero duty must be incorporated in Nigeria.
Read more »
Nigeria cedes World Customs Organisation office to MaliNigeria on Tuesday handed over the Vice-Chairmanship seat of the World Customs Organization (WCO), West Africa and Central Region, to Mali.
Read more »
Customs: Nigeria’s food imports surge 95.28% to N920.54b in Q1,2024The Nigeria Customs Service (NCS), on Tuesday, revealed a dramatic increase in the country’s food imports, which soared by 95.28 per cent to N920.54 billion in the first quarter of 2024 from January to March from N471.39 billion recorded in the same period of the previous year.
Read more »
Nigeria’s Customs revenue increases by 127% to N2.74tn in H1 2024The Nigeria Customs Service revenue collection increased by 127 percent to N2.74 trillion in the first half of 2024, compared with the corresponding period last year. Comptroller-General of Customs, Bashir Adeniyi, disclosed this in a statement released on Monday by the spokesperson of the Service, Abdullahi Maiwada.
Read more »
Nigeria needs more manufacturers than hotels – Customs boss, OgbonnaThe Area Controller of Nigeria Customs Service, NCS, Cross River/Akwa Ibom Command, Chukwudi Gabriel Ogbonna, has stressed that Nigeria requires more manufacturing firms instead of hotels. He observed that there seems to be more hotels in the country compared with manufacturing facilities.
Read more »
Nigeria Customs intercepts N1.68bn worth 150 cartons of bulletproof jacketsThe Nigeria Customs Service said it intercepted 150 cartons of bulletproof jackets worth N1.687 billion in its Zone A Federal Operations Unit of Lagos. The Customs Area Controller in charge of the unit, Kola Oladeji disclosed this to journalists on Thursday.
Read more »