The Nigerian Federal Government is projected to generate approximately N124.26bn per year through the implementation of a 0.5% import tax on goods, as outlined in the Finance Bill 2023. Former President Muhammadu Buhari signed the bill into law on May 28, 2023, imposing a levy on goods imported into Nigeria from outside Africa. The legislation states that a 0.5% levy will be levied on all eligible goods imported into Nigeria from non-African countries. The generated revenue will contribute to capital contributions, subscriptions, and other financial obligations to various multilateral institutions, including the African Union, African Development Bank, African Export-Import Bank, ECOWAS Bank for Investment and Development, Islamic Development Bank, United Nations, and other institutions designated by the Minister of Finance.

In 2022, Nigeria imported goods worth N24.85tn from ..........

https://ratecaptain.com/fg-to-generate-n124-26bn-annually-from-0-5-import-tax-finance-bill-2023-reveals/

Asiwaju is more than capable and we voted him bcs of it's antecedents



Ride on my city baby president 🤣😂😀

Too many taxes killing businesses, I hope Tinubu will start eliminating these hurdles and strengthen the consumer protection agency to do their job.