ANNOUNCEMENT 24 Mar 2020

On 24 March 2020, the federal government of Nigeria introduced an import duty waiver on medical equipment, medicines, personal protection equipment, and other medical necessities required for the treatment and management of Covid-19 disease in Nigeria.

NUMBER OF INTERVENTIONS

1

  • 0 harmful
  • 0 neutral
  • 1 liberalising

SOURCE

National Assembly of the Federal Republic of Nigeria, “Covid-19: Reps Pass Economic Stimulus Bill”. Available at: https://www.nassnig.org/news/item/1472

Tralac, Trade Law Center, “AN ACT TO PROVIDE FOR RELIEF ON CORPORATE TAX LIABILITY, SusPENSION OF IMPORT DuTY ON SELECTED GooDs AND DEFERRAL OF RESIDENTIAL MORTGAGE OBLIGATIONS TO THE FEDERAL MORTGAGE BANK OF NIGERIA FOR A FIXED TERM TO PROTECT Joss AND ALLEVIATE THE FINANCIAL BURDEN ON CITIZENS IN REsPONSE TO THE ECONOMIC DOWNTURN OCCASIONED BY THE OUTBREAK OF COVID-19 DISEASE AND FOR RELATED MATTERS”. Available at: https://www.tralac.org/documents/resources/covid-19/countries/3333-nigeria-emergency-economic-stimulus-bill-24-march-2020/file.html

Inception date: 01 Mar 2020 | Removal date: 31 Dec 2020

Import tariff

On 24 March 2020, the federal government of Nigeria introduced an import duty waiver on medical equipment, medicines, personal protection equipment, and other medical necessities required for the treatment and management of Covid-19 disease in Nigeria.

Import duty on the subject products ranges from 5% to 35%.

Import waiver will enter into force after the approval of the bill by the president and will be effective retrospectively from March 1, 2020, until 31 December 2020.

Import duty waiver is announced as part of the Emergency Economic Stimulus Bill to cushion the country against the effect of COVID-19.