Indorama, Chevron, others get N25.8bn import duty waivers

The Federal Government of Nigeria has granted a total of N25.81 billion in waivers and exemptions to several organisations between January and May this year.  The beneficiary organisations include agencies, non-profit institutions and private businesses.
A report by the Budget Office of the Federation showed that organisations operating in agriculture, oil and gas, power and education sectors were the major beneficiaries.
In all, a total of 64 different organisations were granted waivers with several of them claiming supply of machinery, equipment and spare parts, plants, equipment and core drilling rigs.

Indorama Eleme Fertilizer and Chemicals Limited was the highest beneficiary of the waivers with N10.5 billion.? A breakdown of the amount showed that the sum of N6.96 billion was waived for Indorama for the importation of machinery, equipment and spare parts, while the balance of N3.54 billion was waived on fertilizer equipment, catalysts and chemical pile.

Chevron Nigeria Limited was the second highest beneficiary, with N4.87 billion waived for the importation of machinery, equipment and pipelines; followed by Galaxy Backbone, with N2.49 billion for Information and Communications Technology equipment.

Similarly, United Cement Company of Nigeria and NIPCO Plc also got waivers of N1.91 billion and N1.02 billion for the importation of machinery, equipment and spare parts.?Other major beneficiaries are the Borno State Government, which got N984.79 million waived for agricultural machineries; the Federal Capital Territory Administration/Globe Motors for 290 units of motor vehicles used at the recently held World Economic Forum; and Médecins Sans Frontières (Doctors without borders), N568 million for medical supplies.