Nigeria to impose tariffs on locally produced soaps, cosmetics and perfume?

Nigeria to impose tariffs on locally produced soaps, cosmetics and perfume?

Nigeria’s Minister of Finance, Kemi Adeosun, has written to President Muhammadu Buhari seeking approval to impose tariffs on a series of locally produced consumer goods, according to a report published by The Punch.

Soaps, perfumes and cosmetics were among the goods earmarked for excise duty. Industry commentators have roundly criticized the proposal, suggesting the impact on the local manufacturing sector would be ‘devastating’.

“If the government is trying to grow the local industry, imposing duties on locally manufactured goods is a contradiction of that objective,” said Muda Yusuf, Director-General, Lagos Chamber of Commerce and Industry.

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