The Federal Government has commenced a strategic review of tariff policies to encourage local production, protect domestic industries and ease the cost of doing business, a statement by the Ministry of Finance said on Monday.
The review follows 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 current economic conditions.
Dr Uzoka‑Anite said the discussions weighed tariff structures against the backdrop of rising production costs, foreign exchange pressures and structural challenges facing local manufacturers.
She emphasised that the government’s goal was to reposition tariffs as tools for economic development that can strengthen local value chains and support national efforts to expand industrial capacity.
The review is part of a broader strategy to align fiscal policy with the Federal Government’s industrialisation agenda, reflecting a shift towards policies that encourage private sector growth and job creation in key sectors such as manufacturing, agro‑processing and value‑added industries.
Participants in the meeting examined tariff‑related bottlenecks that currently constrain productive economic activity and raise input costs for local producers.
Officials said the government is seeking a more responsive tariff framework that strikes a balance between protecting domestic industries from unfair competition and ensuring access to essential imports. The approach aims to maintain market stability while reducing dependence on imports that undermine local production efforts.
Analysts note that Nigeria’s manufacturing sector has faced persistent challenges including high production costs, weak infrastructure and competition from cheaper imported goods, factors that have limited the global competitiveness of Nigerian products.
Former leaders in industry and commerce organisations have previously urged the government to expedite tariff reforms and enforce policies that promote local content, protect jobs and deepen industrial development.
The focus on tariff policy adjustments comes amid wider economic reform efforts aimed at improving Nigeria’s business environment, diversifying the economy and attracting investment.
President Bola Ahmed Tinubu’s administration has pursued tax reforms and other structural policies since 2025 to stimulate growth across multiple sectors, including incentives for local enterprises and export‑oriented industries.
Stakeholders in the private sector have welcomed the government’s review while urging that any tariff changes be implemented transparently and accompanied by complementary measures such as infrastructure support and access to financing.
They emphasise that sustainable industrial growth will require coordinated policy action beyond tariff adjustments alone.
The review process is ongoing, with further consultations expected between government agencies, industry representatives and trade associations to fine‑tune tariff recommendations that advance Nigeria’s national development goals.
