THE FEDERAL GOVERNMENT IS SET TO MAKE ABOUT NGN124.26BN IN A YEAR FROM THE IMPOSITION OF A 0.5 PER CENT IMPORT TAX ON GOODS INTRODUCED IN FINANCE BILL 2023. THE FINANCE BILL 2023 WHICH WAS SIGNED INTO LAW ON 28 MAY 2023 BY FORMER PRESIDENT, MUHAMMADU BUHARI IMPOSED A 0.5 PER CENT LEVY ON GOODS IMPORTED INTO NIGERIA FROM OUTSIDE AFRICA. ACCORDING TO THE FEDERAL GOVERNMENT, THIS REVENUE SOURCE WILL HELP IT MEET AND ENSURE THE SUSTAINABILITY OF ITS OBLIGATIONS TO MULTILATERAL ORGANIZATIONS.
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