In a major move to curb inflation and promote sustainable transport, the Federal Government has officially reduced import duties on key goods. Under the new policy approved by President Tinubu, duties on Electric Vehicles (EVs) and Mass Transit Buses have been slashed from 5% to 0%. This fiscal intervention aims to lower transportation costs for Nigerians as global fuel prices remain volatile due to the ongoing Middle East crisis.
🤔 Question Board
Will zero duty on electric vehicles encourage you to switch from petrol cars, or is the lack of charging stations still the main problem?
💡 Suggestion Note:
If you are a transport business owner, hold off on new purchases until the new tariff schedule is fully implemented at the ports this week to maximize your savings.