The federal government of Nigeria has extended the deadline for private jet owners to complete their verification exercise by one month. This exercise involves recovering unpaid import duties on illegally imported private aircraft. EDITOR’S PICKS ICYMI: Nigerian TikToker, Oloba Salo Reportedly Shot in Lekki, Don’t Scrap the EFCC, Fix It, Fintiri Slams Calls For Abolition … Read more
The Federal Government, through the Nigerian Customs Service (NCS), is set to ground over 60 private jets owned by prominent individuals due to unpaid import duties totaling several billions of naira. According to Naija News, the enforcement is scheduled to begin today, October 14th, 2024. Documents obtained by The PUNCH from exchanges between the NCS … Read more
Finance Minister and Coordinating Minister of the Economy, Wale Edun, has dismissed rumours of an imminent increase in the Value-Added Tax (VAT) rate from 7.5% to 10%. In a statement released on Monday, Edun clarified that the VAT rate remains firmly at 7.5%, as stipulated by Nigerian tax laws. EDITOR’S PICKS School Proprietress Allegedly Killed, … Read more
Importers Association of Nigeria (IMAN) accuses Nigeria Customs Service of continuing to collect import duties on food items despite President Bola Tinubu’s executive order to suspend such duties. EKO HOT BLOG reports that the Importers Association of Nigeria (IMAN) has raised concerns over the Nigeria Customs Service (NCS) continuing to collect import duties on food items, … Read more
The Presidency clarified that the suspension of import tariffs on certain food items is still under deliberation and no decision has been made yet. EKO HOT BLOG reports that the Presidency has clarified the confusion regarding the suspension of taxes, import duties, and tariffs for importing certain food items through land and sea borders, including maize, … Read more
The federal government has announced the suspension of duties, tariffs, and taxes on the importation of maize, husked brown rice, and wheat. Eko Hot Blog reports that this suspension also applies to cowpeas, making these goods cheaper to import. In a statement issued on Monday by Abubakar Kyari, minister of agriculture and food security, the … Read more
Labour Party renames ‘Obidient’ directorate after backlash from over 200 support groups. Support groups accused LP leadership of undermining the movement’s independence. LP’s National Publicity Secretary announced the renaming decision in response to the controversy. EKO HOT BLOG reports that the Labour Party (LP) leadership has renamed the ‘Obidient’ directorate following backlash over its naming and … Read more
Tinubu Eyes Import Duty Suspension On Food, Drugs, and essential commodities for six months to tackle inflation. Proposed Executive Order also includes waiving levies on fertilizers, poultry feed, flour, and grains, and offering low-interest loans to agriculture, pharmaceutical, and manufacturing sectors. Plan contradicts earlier statements by Tinubu on food imports, emphasizing domestic production to address … Read more
What FG Must Do To Reduce The Price Of Cement – Block Moulders Association Reveals President of NABMON, Adesegun Banjoko, emphasizes that current cement prices remain high despite government’s threats to open borders for increased supply. Banjoko highlights the need for more cement factories in Nigeria and encourages research for alternative, locally-sourced materials to reduce … Read more
The Nigerian Customs Service (NCS) has given private aircraft owners in the country a 14-day ultimatum to sort out infractions in their import and operational documents with its Tariff and Trade Department or risk having them impounded. The National Public Relations Officer of the NCS, Joseph Attah, made this known on Tuesday in a press … Read more