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The Nigerian government has commenced a strategic review of tariff policies to encourage local production, protect domestic industries, and reduce the cost of doing business.
The review followed a high-level meeting between the Tariffs Review Board and the Minister of State for Finance, Doris Uzoka-Anite, where existing tariff regimes were examined in light of rising production costs and foreign exchange pressures.
The main topics of discussion were bolstering industrial growth, easing the difficulties local manufacturers face, and taking a balanced stance that supports necessary imports while strengthening Nigeria’s domestic value chains.
Uzoka-Anite said the exercise is aimed at boosting industrial competitiveness and ensuring that tariffs are used as instruments of economic development rather than as obstacles to productivity.
She said the approach would be guided by data and focused on long-term reforms to build a more resilient and inclusive economy.
According to her, the review seeks to reposition tariff policy to encourage local manufacturing, protect homegrown industries and lower operating costs across key manufacturing sectors.
“Our objective is to create a tariff regime that supports local manufacturers, strengthens value chains and promotes sustainable industrial expansion,” the minister said.
“This means striking a careful balance between meeting essential import needs and protecting domestic industries from unfair competition.”
A statement after the meeting said a more responsive tariff structure is being considered to align with Nigeria’s industrialisation goals while maintaining market stability in a volatile global trade environment.
Key issues discussed included identifying tariff-related bottlenecks affecting manufacturers, particularly in sectors dependent on imported raw materials and intermediate goods.
To increase output, protect jobs, and improve competitiveness, participants also considered ways to provide financial relief to domestic producers facing high input costs.
