The Presidency has raised duties payable on some of the imported goods in the coming year.
Items affected by the new duty include rice, salt, sugar cane, alcohol spirit, sport utility van, used vehicles, boats, sport cars and cotton fabrics.
The new duty is contained in a circular issued by the Finance Minister, Mrs Kemi Adeosun and sent to the Nigeria Customs Service for implementation.
The minister in the circular stated that President Muhammadu Buhari has approved the new tariff regime effective from last October 17.
Under the new tariff, duty payable on rice has gone up from 10 per cent to 60 per cent, while alcohol spirit, beverages and tobacco has their duty increased from 20 per cent to 60 per cent, as well as packaged cement whose duty moved up from 10 per cent to 50 per cent.
Others are duty on cotton fabric which rises from 35 per cent to 45 per cent, and Tokunbo cars from 10 per cent to 45 per cent.
Also, medical products such as anti-malarial and anti-biotics, crude palm oil, wheat flour, tomato paste have their duty increased
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