Trade and markets
 

Detail

Area
Nigeria
Commodity Group
Rice
Commodity
All
Date
08/07/2014
Policy Category
Trade
Policy Instrument
Import tariffs
Description
Approved a reduction on import levies applied on husked and semi/wholly milled rice. According to the revised regime, importers possessing rice processing facilities and operating verifiable backward integration programmes in the country will be charged a lower levy of 20% for husked and semi/wholly milled rice, on top of a 10% import tariff. Husked and semi/wholly milled rice imported by "pure traders" (i.e. those not possessing such facilities) will, on the other hand, attract a higher levy of 60%, on top of an import duty of 10%. This compares to the 110% charge (100% levy + 10% import duty duty) applied on all rice imports since January 2013.