2012-02-21 | TED/FEM/FPC/GEN/01/005

Fiscal Policy Measures 2012

The Nigerian Trade and Exchange Department has announced new fiscal policy measures for 2012. Effective from January 31st, zero percent duty will be applied to agricultural machinery and power sector equipment. From March 31st, importing cassava flour will be prohibited, encouraging its use in bread-making, with bakers receiving a 12% corporate tax incentive rebate when using 40% cassava blend within 18 months. Zero-duty equipment for cassava flour processing is also allowed. From July 1st, wheat and rice will attract various levies and duty rates to encourage local production and consumption, with concessions granted on a sectoral basis.

Nigeria

Central Bank of Nigeria

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