The Federal Government says it is not increasing import tariffs and the baby boys are happy.
The news did not settle down well with most Nigerians who are dreams of buying SUVs, second-hand cars or sports cars, cigars and alcoholic spirits in 2017.
Well, it strangely seems the news was false (even though the Aso Rock handle tweeted it).
On Friday, January 6, 2017, the Federal Ministry of Finance stated that import tariffs have not been raised on luxurious goods.
"The Federal Ministry of Finance wishes to categorically state that the correct position is that, the 2016 FPM did not involve any upward review of tariff on the affected food items and luxury goods. On the contrary, tariffs for those items remained at their 2015 levels, while duties for some other items were actually reduced. A comparison of the 2015 Fiscal Policy Measures Circular dated 20th March 2015 and the 2016 Fiscal Policy Measures dated 29th November 2016 will affirm this position" read the statement.
A lot of baby boys all over the country can rest easy now and import their BMW and Mercedes-Benz rides. Someone in Aso Rock had quick fingers.
Prior to the clarification, it was reported that SUVs or sports car will attract a 70% tariff while the import duty for second-hand cars was 35%.