The Federal Government has commenced a strategic review of Nigeria’s tariff policies as part of efforts to encourage local production, protect domestic industries and ease the cost of doing business across key sectors of the economy.
The move followed a high-level meeting between the Tariffs Review Board and the Minister of State for Finance, Dr Doris Uzoka-Anite, where existing tariff regimes were assessed against the backdrop of rising production costs and mounting foreign exchange pressures.
Naijaonpoint reports that discussions at the meeting centred on aligning tariff policies with the Federal Government’s industrialisation agenda, addressing challenges confronting local manufacturers and adopting a balanced approach that allows essential imports while strengthening Nigeria’s local value chains.
According to participants, particular attention was paid to sectors heavily dependent on imported raw materials and intermediate goods, where tariff-related bottlenecks continue to raise production costs and weaken competitiveness.
Speaking on the initiative, Uzoka-Anite said the review formed part of the government’s broader strategy to boost industrial growth and enhance Nigeria’s economic competitiveness.
She emphasised the administration’s commitment to data-driven policymaking and reforms aimed at building a more resilient, competitive and inclusive economy.
The minister explained that the exercise was intended to reposition tariffs as instruments for economic development rather than constraints on productivity.
“Our objective is to create a tariff regime that supports local manufacturers, strengthens value chains and promotes sustainable industrial expansion. This means striking a careful balance between meeting essential import needs and protecting domestic industries from unfair competition,” she said.
A statement issued after the meeting revealed that the government is seeking a more responsive tariff framework that reflects its broader industrialisation goals, while ensuring market stability in an increasingly volatile global trade environment.
The meeting also examined options for providing fiscal relief to domestic producers grappling with high input costs, with a view to boosting output, preserving jobs and enhancing the competitiveness of Nigerian-made products.
Participants at the meeting underscored the need for tariff adjustments to be guided by empirical evidence, noting that any changes must carefully consider their impact on production costs, consumer prices and employment levels.
By refining these fiscal levers, the Federal Government said it aims to unlock industrial capacity, attract investment and deepen local value addition across the economy.