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Home News World News

FG to slash car importation levy to 5%

ElanHub by ElanHub
November 23, 2020
in World News
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The Federal Government of Nigeria has concluded plans to reduce the 35% levy on imported vehicles to 5%. This according to the government, is to slash the cost on transportation.

The government made this known in a new bill to be presented to the national assembly.

Minister of Finance, Zainab Ahmed had in a statement noted that the reduction in import levies was to reduce the cost of transportation.

“The reason for us is to reduce the cost of transportation which is a major driver of inflation especially food production,” she said.

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