FG plans import levy to finance AfDB, W’Bank obligations

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The Federal Government has initiated plans to introduce O.5 per cent levy on imported goods to raise funds to meet its obligations to the African Development Bank, the World Bank and other multilateral organisations.

This is contained in a document titled ‘Invitation to a One Day Public Hearing and Submission of Memoranda on the 2022 Finance Bill,’ released by the House of Representatives Committee on Finance.

The document read in part, “In addition to extant customs duties and other approved charges, a levy of 0.

He said that since the government does not want to fail with its debt obligations, it has to devise measures to ensure it meets these obligations.

 

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