Dizengoff West-Africa Nigeria Limited has decried the government policy of placing zero import duty on imported Fully Built Up tractors as it does not encourage investors to establish local assembling factories in the country.
Chief Executive Officer and Country Manager of the firm, Mr. Ritvonen Antti, made the assertion in an interview in Lagos. Antti said that the policy encouraged importation of fully-built tractors which attracted zero per cent duty and five per cent VAT.
He 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.’’
According to Antti, Dizengoff used to import CDK to be assembled in the country but stopped work after the review of the policy which did not encourage that. The country manager expressed excitement over the review of the policy under the current restructuring of the sector under the incumbent administration of President Muhammadu Buhari. Antti, however, urged that the Federal Government policies on import tariffs should be quickly implemented which would catalyse development.
