FG REVIEWS TARIFFS ON 192 IMPORT PRODUCT CATEGORIES

The Federal Government has reviewed tariffs on 192 categories of imported products as part of efforts to improve trade policies, support local industries, and strengthen Nigeria’s economy.

The tariff adjustment is expected to affect various imported goods, with the government aiming to balance revenue generation, consumer protection, and the growth of domestic manufacturing.

Officials said the review forms part of broader reforms to create a more competitive business environment while encouraging local production and reducing excessive dependence on imports.

Industry stakeholders welcomed the move but urged the government to ensure that tariff policies are predictable and aligned with the realities faced by businesses.

Manufacturers said supportive trade measures, combined with improved infrastructure, stable power supply, and access to finance, are necessary for local companies to compete effectively.

Economic experts noted that while tariff reviews can protect domestic industries, careful implementation is needed to prevent higher costs for consumers and unintended pressure on businesses.

The Federal Government reaffirmed its commitment to developing trade policies that promote investment, strengthen local production, and support sustainable economic growth.