“Tax Reform Committee Recommends Pegging Customs Import Duty Rate at N800/$1”

Importers across Nigeria may soon find relief as the Presidential Committee on Fiscal Policy and Tax Reforms has suggested that the federal government set an exchange rate of N800/$1 for customs import duty. This proposal was revealed by Taiwo Oyedele, the committee’s chairman, during a press briefing in Lagos on Thursday.

In recent times, the customs import duty rate has experienced fluctuations, prompting calls from key stakeholders for a fixed rate.

More details on this development will be provided soon. Stay tuned for updates.