Reps push for special levy to curb finished goods importation

The House of Representatives Committee on Power has proposed the introduction of special levies to discourage the importation of finished goods and promote local production.

The committee chairman and member representing Eka North East/Eka South Federal Constituency of Delta State, Victor Nwokolo, disclosed this on Monday during a facility tour of Metering Solutions and Manufacturing Services in Onna Local Government Area of Akwa Ibom State.

Nwokolo emphasised the need to boost local manufacturing to conserve foreign exchange, lamenting that Nigeria has become a dumping ground for imported finished products.

“There are levies which people pay when bringing cars into the country. When you bring in cars, you pay special levies. We will see how to extend this to those importing finished goods so that they pay special levies to the government. This is the only way we can discourage them from bringing in finished goods. Finished goods have made Nigeria a dumping ground,” Nwokolo said.

He commended President Bola Tinubu and the Minister of Power, Adebayo Adelabu, for tackling the country’s power sector challenges, noting that despite not being a member of the ruling All Progressives Congress, he is convinced that Tinubu’s administration is committed to improving Nigeria’s electricity supply.

“Whether we like it or not, the government of President Bola Tinubu is poised to change the lives of Nigerians. I can say that he is paying attention to the power sector. We must give credit to the Minister of Power and the administration of President Bola Tinubu; they have gone to the root of the country’s power sector problems,” he added.

Nwoko also revealed that banks, which previously avoided lending to the power sector due to poor financial inflows, are now proactively offering loans to Electricity Distribution Companies.

Earlier, the Managing Director of Metering Solutions and Manufacturing Services, Dr. Tolulope Ogunkolade, lamented that despite the company’s significant investments, the federal government has yet to fully utilise its production capacity.

He further expressed regret that Chinese firms were awarded contracts to supply 1.3 million meters at the expense of indigenous manufacturers, stressing the need for the government to prioritise local industries.