FG Waives N1.3trn in Import Duties in 8 Years
Finance Minister
The federal government has granted waivers in import duties , value added tax and other incentives in the past eight years, the Finance Minister, Hajiya Zainab Ahmed Shamsuna, said Tuesday.
The minister disclosed this during a one-day sensitisation seminar on automation of Import Duty Exemption Certificate (IDEM) organised by her Ministry in collaboration with the Nigeria Customs Service (NCS) in Kano.
The Kano State Commissioner of Finance, Shehu Na’allah, who represented the Minister said the concessions were granted between 2011 and 2019.
According to her, government between 2011 and 2015 government conceded N1.024 trillion and N342 billion in waivers between 2017 and 2019..
She added, “for the records, between 2011 to 2015, government conceded about N1.024 trillion through the grant of only four types of incentives namely: Import duty waivers/concessions/grants – N503.5 billion, VAT waivers/concessions/grants – N227.7 billion, pioneer status non-oil companies – N73.5 billion and pioneer status PPT on oil companies – N219.5 billion.
“Approximately N341.9 billion worth of waivers was granted from August 2017 to August 2019. The scope of such requests is expanding; hence the need to have in place modern technology to drive its administration.
“Up until March 2020, we processed the grant of the IDEC incentives manually. This process was quite cumbersome, tedious, time consuming and it was beset with undue human interface with its attendant challenges.
“Why automate the process? The automated IDEC portal will deliver (and it is already delivering the benefits among others, in line with the ministry’s strategic revenue growth initiatives (SRGI).
“The federal government, under the administration of President Muhammadu Buhari is keen on promoting and sustaining transparency and efficiency in delivering services in the public sector domain and the organized private sector.”
The Comptroller -General of Customs, Col. Hameed Ali (Rtd), had in his speech said the Service was determind to block all leakages through which governmetn lost revenue.
Ali who was represented by the Commandant, Customs Training School, Kano, Lawrence Banye the automation will block all revenue leakages.
The minister disclosed this during a one-day sensitisation seminar on automation of Import Duty Exemption Certificate (IDEM) organised by her Ministry in collaboration with the Nigeria Customs Service (NCS) in Kano.
The Kano State Commissioner of Finance, Shehu Na’allah, who represented the Minister said the concessions were granted between 2011 and 2019.
According to her, government between 2011 and 2015 government conceded N1.024 trillion and N342 billion in waivers between 2017 and 2019..
She added, “for the records, between 2011 to 2015, government conceded about N1.024 trillion through the grant of only four types of incentives namely: Import duty waivers/concessions/grants – N503.5 billion, VAT waivers/concessions/grants – N227.7 billion, pioneer status non-oil companies – N73.5 billion and pioneer status PPT on oil companies – N219.5 billion.
“Approximately N341.9 billion worth of waivers was granted from August 2017 to August 2019. The scope of such requests is expanding; hence the need to have in place modern technology to drive its administration.
“Up until March 2020, we processed the grant of the IDEC incentives manually. This process was quite cumbersome, tedious, time consuming and it was beset with undue human interface with its attendant challenges.
“Why automate the process? The automated IDEC portal will deliver (and it is already delivering the benefits among others, in line with the ministry’s strategic revenue growth initiatives (SRGI).
“The federal government, under the administration of President Muhammadu Buhari is keen on promoting and sustaining transparency and efficiency in delivering services in the public sector domain and the organized private sector.”
The Comptroller -General of Customs, Col. Hameed Ali (Rtd), had in his speech said the Service was determind to block all leakages through which governmetn lost revenue.
Ali who was represented by the Commandant, Customs Training School, Kano, Lawrence Banye the automation will block all revenue leakages.
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