The Federal Government has begun a strategic review of Nigeria’s tariff policies as part of efforts to encourage local production, protect domestic industries and reduce the cost of doing business for manufacturers.
The review 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 persistent foreign exchange pressures.
Discussions at the meeting centred on aligning tariff policies with the Federal Government’s industrialisation agenda, addressing constraints faced by local manufacturers and ensuring a balanced framework that supports essential imports while strengthening domestic value chains.
Uzoka-Anite said the review forms part of broader efforts to stimulate industrial growth and improve Nigeria’s economic competitiveness. She stressed the government’s commitment to data-driven policymaking and reforms aimed at building a more resilient, competitive and inclusive economy.
According to her, the objective is to reposition tariffs as instruments for economic development rather than obstacles to productivity. She explained that the focus is on encouraging local manufacturing, shielding home-grown industries from unfair competition and easing operational costs across key manufacturing value chains.
“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 noted that the government is working towards a more responsive tariff structure that reflects its industrialisation priorities, while also ensuring market stability amid growing volatility in global trade.
Key concerns raised included tariff-related bottlenecks affecting manufacturers, especially industries that rely heavily on imported raw materials and intermediate goods. Participants also explored options for providing fiscal relief to domestic producers grappling with high input costs, with the aim of boosting output, preserving jobs and improving competitiveness.
The meeting highlighted the importance of evidence-based decision-making, with broad agreement that any tariff adjustments must be guided by empirical data on their impact on production costs, consumer prices and employment, particularly for local businesses and manufacturers navigating a challenging economic environment.
