Tag: Tariffs

Petrol may jump to ₦1,163/litre as FG proposes new tariff

Aminu Imam
FG proposes petrol tariff

…Stakeholders kick, fear inflation, worsening poverty   President Bola Ahmed Tinubu’s administration is proposing a new tariff regime that could see motorists and industries pay an estimated ₦4.8 trillion yearly in fresh taxes on petrol and diesel. Coming amid worsening poverty, the new tax regime and the government’s inability to cushion the impact of subsidy removal, the 15 percent import duty, alongside the 7.5 per cent Value Added Tax (VAT) attached to tariffs, is expected to raise fuel prices by at least 22.5 percent, pushing the pump price of petrol from…

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U.S. slashes Nigerian imports by 41%

Aminu Imam
U.S. slashes imports

…As tariff dispute deepens trade strains The United States (U.S.) has slashed its imports of Nigerian goods by 41% in just one month, raising alarm over the fragile state of Nigeria’s trade relations with one of its most strategic global partners. New figures from the U.S. Census Bureau and the Bureau of Economic Analysis indicate that U.S. imports of Nigerian products declined from $639 million in June 2025 to $379 million in July, a significant drop that highlights Nigeria’s reduced access to the American market. The drop coincided with a…

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Trump imposes tariffs on Nigeria, 59 others

Aminu Imam
Trump imposes

Sixty countries, including Nigeria, face increased tariffs after United States President Donald Trump launched a reciprocal-tariff programme targeting products and countries with different rates. According to the White House website figures, Nigeria will face a 15% tariff under the programme. It said the plan sets a 10% baseline tariff on all imports to the US, with additional duties applying to particular products or countries. China would face a 30 percent tariff, with extra levies on some products, while Brazil is listed at 50 percent, with lower levels for specific sectors,…

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Call tariffs may increase, as Customs impose 5% duty on recharge cards

Aminu Imam

President Muhammadu Buhari has reputedly approved the collection of five percent excise duty on telephone recharge cards and vouchers. According to an issued circular signed by the Minister of Finance, Budget and National Planning, Zainab Ahmed, directed the Nigerian Customs Service to create a tariff line for the collection of the excise on mobile telephones, electricity meters (components) and set up boxes at 5%. The circular conforms with another list of excisable items by customs to include telephone recharge cards and vouchers at five percent. The increase comes even as…

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MTN, Airtel, others justify planned 40% hike in call, data tariffs

Aminu Imam

Telecom providers in Nigeria, under the aegis of the Association of Licensed Telecommunications Operators of Nigeria, (ALTON), have justified their decision to increase data and call tariffs by 40 percent. This was made known by the ALTON’s Head of Operations, Gbolahan Awonuga, yesterday. According to them, the rising cost of operation in the country prompted its request for an increment in the cost of services offered by its members. The umbrella body of the telecom operators had, in a letter to Nigerian Communications Commission, (NCC), urged the telecoms regulator to…

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Telecomms: “We may increase tariffs” — Telcos union warns

Aminu Imam

Telecommunications firms, (Telcos), have expressed readiness to introduce price differentials in regions hostile to their operations. The operators, under the aegis of the Association of Licensed Telecoms Operators of Nigeria, (ALTON), therefore, issued a seven-day warning and appealed to the Federal Government to urgently intervene on the challenges plaguing the sector. ALTON Chairman, Gbenga Adebayo, who disclosed this during an interaction with newsmen in Lagos on Thursday, however, said before telcos begin discriminatory pricing, they would meet with the Nigerian Communications Commission, (NCC). Adebayo said the challenges currently confronting members…

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