Custom’s bureaucracy foils tractor investments – Dizengoff

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Dizengoff West-Africa Nigeria Ltd has attributed the paucity of local assembling factories in the country to the bureaucracy and inflated tariffs on semi-complete Knocked down (CDK) tractors imposed by the Nigeria Customs Service.

The Chief Executive Officer and Country Manager of the firm, Mr Ritvonen Antti made this known to newsmen in Lagos, on Sunday, June 3.

Antti said, “We are interested in bringing development to the Nigerian agriculture sector, especially in the assembling of tractors and other agricultural machinery.

“Dizengoff hopes to partly localise activities in Nigeria soon, however, some government regulations and policies do not always encourage that to happen.

“According to the customs duty policy, it is cheaper to bring the fully-built tractors. This will lead to limitations to tractor assembling and manufacturing in Nigeria.

“So, obviously, it will not open links for employment.”

Antti, however, retired to elation over the review of policies on import tariffs and the revamping of the sector by the President Buhari’s administration.

On the other hand, the Public Relations Officer of the Nigerian Customs service, Mrs Ijeoma Nwala explained that the online CET Code reveals that the Track Laying Tractors (CET: 8701.3000.00) was 35 per cent duty and five per cent VAT.

The Agricultural Tractors Presented CDK or unassembled for the assembling industry (CET: 8701.9019.00) was zero per cent duty and VAT.

Meanwhile, Agricultural tractors fully-built (CET: 8701.9019.00) was zero per cent duty and five per cent VAT.

The post Custom’s bureaucracy foils tractor investments – Dizengoff appeared first on AgroNigeria.

Source: AgricNews-Update

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