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NIGERIA FISCAL POLICIES ON AGRICULTURE

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The following are the Federal Government fiscal policies on agriculture
  • Zero tariffs (custom, excise and value added) for import of agricultural equipment and agro-processing equipment
  •     Tax holidays for investors putting processing plants in staple crop processing zones
  •     Increase tariff on any commodity that Nigeria can produce (rice, starch, sugar, wheat etc.) to promote domestic production and  local content
  •     Current policy on import levy of 5% for brown rice and 30% for polished milled rice, and 5% on raw sugar and 10% on starches should be increased and revenue used to support domestic production
  •     Supportive incentives for investors for blending plants for ethanol

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