The Federal Government of Nigeria has removed import duty on ships and spare parts used in ships as an incentive to enhance local shipping capacity and encourage more indigenous investors to invest in the maritime industry. This was disclosed on Thursday 7 September 2021 by Dr Bashir Jamoh, the Director General, Nigerian Maritime Administration and Safety (“NIMASA”). Dr. Jamoh however did not refer to any supporting legislative instrument.
Given that the Customs, Excise Tariff, Etc. (Consolidation) Act enables the President, on the recommendation of the Tariff Review Board, to by order remove any import or excise duty, we hope that the President would in the coming days make the relevant order.
