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Cost of Living Relief: Tinubu Slashes Import Duties On Rice, Cars, And Essential Goods In Massive Economic Overhaul!.
To address Nigeria’s ongoing cost-of-living crisis, the Federal Government has introduced a major overhaul of its tariff regime, effective July 2026. Approved by Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, the 2026 Fiscal Policy Measures apply to 127 tariff lines, specifically targeting essential food items, passenger vehicles, mass transit buses, electric vehicles, and manufacturing machinery.....KINDLY READ THE FULL STORY HERE▶
Impact on Food and Industry
The policy aims to alleviate high food prices and reduce input costs for commercial producers through revised duty rates on key staples:
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Bulk Rice: Reduced from 70% to 47.5%.
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Broken Rice: Now attracts a 30% duty.
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Raw Cane Sugar: Duties compressed to between 55% and 57.5%.
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Crude Palm Oil: Reduced from 35% to 28.75%.
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Manufacturing Machinery: Now set at 0% duty to revitalize the industrial sector and lower production costs.
Transportation and Vehicle Relief
To lower transport costs and encourage the use of cleaner energy, the government has implemented significant changes for the transport sector:
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Passenger Vehicles: Duty reduced from 70% to 40%.
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Mass Transit and Electric Vehicles: Fully exempted from import duties.
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Logistics: While lower vehicle acquisition costs may improve transport efficiency, stakeholders note that the impact on retail food prices will likely be gradual rather than immediate.
Critical Perspectives and Challenges
Despite the potential relief, experts and stakeholders have raised concerns regarding the policy’s overall effectiveness:
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Economic Pressures: Analysts warn that benefits may be mitigated by persistent exchange rate volatility (hovering between ₦1,400–₦1,500 per dollar), high fuel prices, and various port-related charges.
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Shifting Tax Burden: Commentator Kehinde Aluko noted that the government is shifting the tax burden from imports to consumption. To balance the budget, new excise duties on tobacco, alcoholic drinks, and non-alcoholic beverages, alongside a “green tax” on high-engine vehicles, take effect from July 1, 2026.
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Protectionism Concerns: Critics worry that lowering tariffs on items like rice may undermine domestic farmers and investor confidence.
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Automotive Industry Impact: There is debate regarding local manufacturing; while some dealers welcome the increased vehicle availability, industry experts like Luqman Mamudu warn that zero tariffs on commercial vehicles could damage the domestic assembly industry and lead to the collapse of local plants.
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Implementation Doubts: Freight forwarders and importers emphasize that without addressing non-tariff bottlenecks—such as terminal handling fees and cargo clearance delays—the policy may only provide relief “on paper,” similar to past failed attempts under previous administrations.
latest
THE ULTIMATE PRAISE: Mourinho Drops Jaw-Dropping ‘Incredible’ Verdict After Mbappé’s Epic Hat-Trick!.
Real Madrid manager José Mourinho lauded Kylian Mbappé as “incredible” following the French forward’s hat-trick performance in a victory against Real Sociedad. In post-match remarks to Real Madrid’s official website, Mourinho characterized the 27-year-old’s performance level as “stratospheric” and highlighted his strong drive to cement his legacy at the Santiago Bernabéu. Describing Mbappé’s multifaceted impact, the coach emphasized that the player does not merely wait for service in front of goal; rather, he drops deep to generate chances, links up effectively with teammates—such as executing a one-two with Jude Bellingham—and contributes heavily to the team’s overall build-up play, complementing a collective team effort that Mourinho noted is crucial even when coaching elite talent.....KINDLY READ THE FULL STORY HERE▶
entertainment
THE ULTIMATE SHOCKWAVE: Okoya’s Son Drops Bombshell And Quits Music Forever!.
Nigerian Afrobeats artist Raheem Okoya—son of renowned industrialist Rasaq Okoya—announced on Wednesday via Instagram that he is stepping away from professional music release. What initially started as a casual hobby and bonding activity with friends evolved into a professional career featuring major performances and recognition from childhood idols. However, over the past year, balancing music with his other obligations became increasingly difficult. Stating that he could no longer provide the craft with the required patience and dedication, he chose to make a professional exit.....KINDLY READ THE FULL STORY HERE▶
While the “Siraheem music” era is wrapping up—just months after the May 1, 2026 release of his eight-track debut project, By The Order Of The City—Raheem noted that he plans to channel his creativity into new ventures. He added that music remains therapeutic for him, leaving open the possibility that his unreleased album might eventually see the light of day. Since beginning his professional music journey around 2022, he built an audience through tracks like Bad Bitch Syndrome, Kowope, SOWETO, and TRU$T FUND.
latest
THE ULTIMATE SHOCKWAVE: Tinubu Orders Massive NFF Overhaul In High-Stakes Directives!
President Bola Ahmed Tinubu has mandated a thorough restructuring of Nigerian football, citing ongoing struggles and failure to qualify for major international tournaments. In a Thursday statement issued through Special Adviser on Information and Strategy Bayo Onanuga, the President emphasized that despite advancements in other sports following the re-establishment of the National Sports Commission (NSC), football continues to suffer from deep-seated structural deficits in governance, administration, and accountability.....KINDLY READ THE FULL STORY HERE▶
To execute this overhaul, Tinubu instructed NSC Chairman Shehu Dikko to collaborate with the Nigeria Football Federation (NFF) secretariat on a wide-ranging consultative process, while stressing the necessity of coordinating with FIFA and CAF to avert any penalties related to government interference. This presidential directive closely follows the resignations of NFF President Ibrahim Gusau and General Secretary Muhammad Sanusi.
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