Breaking: Senate orders suspension of increase in importation tariffs

Breaking: Senate orders suspension of increase in importation tariffs

- Nigerian Senate has ordered immediate suspension of increase in importation tarrifs

- It mandated the committees on agric, finance and customs to invite relevant MDAs to investigate lasting solutions to the important matter

- The Senate President Bukola Saraki, described the issue as being critical

Nigerian Senate has called on the federal government to suspend increase in the importation tariffs.

Legit.ng gathered that Senator Sabo Mohammed cited order 42 and 52 and moved a motion on the increase of tariffs on importation during Wednesday, February 14, plenary session.

After deliberations by the members, the Senate resolves that the federal government should suspend the new tariff with immediate effect.

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The Senate resolved to: "Call on the FG to suspend the new tariff immediately; and mandate the committees on agric, finance and customs to invite relevant MDA’s to investigate and provide lasting solutions to this important matter.

In his comments, the Senate President Bukola Saraki, described the issue as being critical, adding that the somersault on some of these policies and the inconsistencies therein need to be addressed.

He said: “This issue is critical and the somersault on some of these policies and the inconsistencies therein need to be addressed. The key issue here when we are talking about Agriculture is that we must ensure that we create an enabling environment for operators in the sector.

”When I was the chairman of a technical committee on this, and we were trying to increase the tariffs from 10 percent to 15 percent, we noticed that it comes as a shock to many businesses, so instead of us going up, we are going down.

”So, please, chairman agriculture, chairman finance, sit down with the ministry of finance - they must suspend this policy. We cannot continue to say that we are supporting agriculture, yet be doing this that are affecting the sector.

"They must suspend this policy! We cannot continue to say that we are supporting agriculture, yet be doing things that are affecting the sector."

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Meanwhile, Legit.ng had earlier reported that the lawmaker representing Kogi west at the Senate, Dino Melaye, has accused the Nigerian National Petroleum Corporation (NNPC) of owning illegal account with N34.4 billion balance.

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Source: Legit.ng

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