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.
