Tag: import adjustment tax

Buhari approves one year deferment of 35% on FBU electricity meters

As part of efforts to bridge its metering gap and get fair power supply pricing for users, Nigeria’s government has approved a one-year deferment of the 35 per cent Import Adjustment Tax imposed on fully built unit electricity meters. While the levy was initially imposed to encourage local production and protect investments in the local assembly of electricity meters, efforts are now more focused on ensuring more meters are rolled out. Executive Vice-Chairman and CEO of Proton Energy, Oti Ikomi joins CNBC Africa for more.
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