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MAN wants postponement of 50% tariffs on tomato paste

By on April 15, 2017

The Manufacturers Association of Nigeria (MAN), has urged the Federal Government to allow for more time before executing the 50 per cent tariff on imported tomatoes concentrates.

President of MAN, Mr Frank Jacobs, in an interview with the News Agency of Nigeria (NAN) in Lagos yesterday, said that the gesture would allow local manufacturers to undertake backward integration, adding that the present time given by government was “inadequate.”

The Minister of Industry, Trade and Investment, Mr Okechukwu Enelamah, had on Tuesday, disclosed that the government has increased the tariff on tomato concentrate to 50 per cent.

Enelamah further said that the government has also approved an additional levy of $1,500 per metric tonne on tomato concentrate from May 7.

The minister had explained that the move was to increase local production of fresh tomato fruit in the country.

Jacobs said although the new policy was commendable, most domestic manufacturers needed time to adequately backward integrate so as not to incur losses.

“We are all aware that before the assumption of the new policy most of our members would have imported raw materials and if the policy comes as soon as possible, our members will not be able to meet the deadline.

“As is the policy which is supposedly to be seen to be boosting domestic productivity will now negate business in the short run for our members,’’ he said.

 

[Daily Trust]