The federal government has commenced strategic review of tariff policies to encourage local production, protect domestic industries, and ease the cost of doing business.
This followed a high-level meeting with the Tariffs Review Board and the Minister of State for Finance, Dr Doris Uzoka-Anite, where existing tariff regimes were weighed against the backdrop of rising production costs and foreign exchange pressures.
Discussions focused on supporting the Federal Government’s industrialisation agenda, addressing challenges faced by local manufacturers, and ensuring a balanced approach that facilitates essential imports while strengthening Nigeria’s local value chains.
Uzoka-Anite said the move is part of the government’s strategy to boost industrial growth and enhance economic competitiveness, and emphasised the government’s commitment to data-driven policymaking and reforms aimed at building a more resilient, competitive, and inclusive Nigerian economy.
The minister stated that the review is aimed at repositioning tariffs as tools for economic development rather than a constraint on productivity, adding that the focus is on encouraging local production, protecting home-grown industries, and easing the cost of doing business across key manufacturing value chains.
“Our objective is to create a tariff regime that supports local manufacturers, strengthens value chains and promotes sustainable industrial expansion. This means striking a careful balance between meeting essential import needs and protecting domestic industries from unfair competition,” the minister said.
According to a statement issued after the meeting, the government is seeking a more responsive tariff structure that reflects the federal government’s broader industrialisation agenda, while ensuring market stability in an increasingly volatile global trade environment.
Key issues discussed included the identification of tariff-related bottlenecks affecting manufacturers, particularly in sectors dependent on imported raw materials and intermediate goods.
Participants also examined options for providing fiscal relief to domestic producers facing high input costs, to boost output, preserve jobs, and enhance competitiveness.
The meeting underscored the need for data-driven policy decisions, with general agreement that tariff adjustments must be guided by empirical evidence on their impact on production costs, consumer prices and employment.
By refining these fiscal levers, the government is aiming to unlock industrial capacity, attract investment and deepen local value addition.
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