News Obiaks News

Approval for the procurement of an electronic gateway platform for the processing of import duty exemption certificates as well as vehicle identification and registration numbers, under the auspices of the Federal Ministry of Finance, Budget and Economic Planning, have been granted by the Federal Executive Council (FEC).
        Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, said after the meeting, which was presided over by Vice President Yemi Osinbajo, that an approval was granted to automate the process of the various applications for exemption that were coming to the ministry. She said these categories of import duty payments and other tax incentives covered a number of sectors, including the downstream gas-utilisation projects, the agro allied processing projects, commercial aircraft engines and spare parts, automobile assembly, iron and steel production, power including thermal hydro, solar and wind, textiles- plants, machinery and equipment imported for use for mining operations.