As a result of the need to promote development in certain sectors of the economy, the Federal Government has decided to slash import duties on some important items. While some goods had their import duties slashed, some had their tariffs increased.
Also, the importation of some items was banned. This will allow local businesses to thrive and do well as the foreign products, which often compete with them, have been banned.
This implies that local producers will have the chance to expand their businesses as their sales will inspire others to set up and start production.
Check out some of the goods on the list of banned items:
1. Refined vegetable oil
2. Cocoa butter
4. Fruit juice in retail packs
5. Bagged cement
6. Soaps and detergent
7. Mosquito repellent coils
8. Corrugated paper and paper boards
9. Telephone recharge cards and vouchers
10. Carpets and rugs
11. All types of footwear, bags and suitcases
12. Used motor vehicles above 15 years from year of manufacture.
13. Live or dead birds
15. Liquid dietary supplements
16. Pain relief pills like paracetamol tablets and syrup
17. Chloroquine tablets and syrup