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FG Begins Major Tariff Review to Ease Business Costs A nd Protect Industries.
According to Nivo News, the Federal Government has commenced a comprehensive review of Nigeria’s tariff policies as part of efforts to stimulate local production, safeguard domestic industries, and reduce the cost of doing business across critical sectors of the economy.....KINDLY READ THE FULL STORY HERE▶
The initiative followed a high-level meeting between the Tariff Review Board and the Minister of State for Finance, Dr. Doris Uzoka-Anite, where existing tariff structures were examined against the backdrop of rising production costs and persistent foreign exchange pressures. Discussions focused on aligning tariff measures with the government’s industrialisation agenda while addressing challenges confronting local manufacturers.
Stakeholders at the meeting highlighted the need for a balanced tariff framework that accommodates essential imports while strengthening local value chains. Particular attention was given to sectors that rely heavily on imported raw materials and intermediate goods, where tariff-related constraints have continued to inflate production costs and undermine competitiveness.
Speaking on the review, Dr. Uzoka-Anite said the exercise forms part of the administration’s broader strategy to accelerate industrial growth and enhance Nigeria’s economic competitiveness. She stressed the government’s commitment to data-driven reforms designed to build a resilient, inclusive, and competitive economy.
The minister explained that the goal is to reposition tariffs as tools for economic development rather than obstacles to productivity. She noted that the review seeks to strike a careful balance between supporting domestic manufacturers and meeting essential import needs, while protecting local industries from unfair competition.
A statement issued after the meeting revealed that the government is working towards a more responsive tariff regime that reflects its industrialisation objectives and ensures market stability amid global trade volatility. Options for providing fiscal relief to domestic producers burdened by high input costs were also explored, with the aim of boosting output, preserving jobs, and improving the competitiveness of Nigerian-made goods.
Participants agreed that any tariff adjustments must be guided by empirical evidence, taking into account their impact on production costs, consumer prices, and employment levels. Through these reforms, the Federal Government said it hopes to unlock industrial capacity, attract investment, and deepen local value addition across the economy.
The Bauchi State Government has dismissed a staff member, Aminu Abdullahi, following a fatal road accident involving journalists on official duty that claimed two lives.....KINDLY READ THE FULL STORY HERE▶
Daniel Bwala, Special Adviser to President Bola Tinubu on Policy Communication, has reacted to a resurfaced video in which the president said Nigerians should not re-elect him if he fails to ensure steady electricity supply.....KINDLY READ THE FULL STORY HERE▶
Bwala spoke during an interview on Arise Television, where he addressed questions about the video and the current performance of the power sector under the Tinubu administration.
He said the president’s statement should be viewed within the context of his ongoing first term, stressing that it is too early to judge promises tied to a possible second term.
According to him, the administration has already begun implementing reforms in the power sector, including policy decisions and new legislative measures aimed at improving electricity supply.
He maintained that progress is ongoing and that the focus should be on what has been achieved so far rather than expectations for future electoral outcomes.
Bwala added that Nigerians will ultimately decide at the appropriate time whether the president deserves another term based on his overall performance.
“The president has not even come to the point of second term. We are still in the first term, and reforms are ongoing, including new laws and sectoral changes,” he said.
He further argued that the electorate will make their judgment when the time comes, based on the results delivered by the administration.
President Bola Tinubu has described his predecessor, the late Muhammadu Buhari, as his political partner, saying his administration effectively represents continuity of their shared governance.....KINDLY READ THE FULL STORY HERE▶
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