3 December 2012

Nigeria: Govt Urged to Reduce Import Duty, Fix Refineries

The federal government has been urged to reduce import duty on some imported raw materials used in the production of locally made products as well as fixing of the old refineries and building new ones.

This call was made at the weekend by Alhaji Ado Mustapha, Chairman Ammasco International Ltd, producer of Ammasco engine oil during the company's customer forum and award for the distributors and end users in Abuja.

Mustapha said, "Government should come to private sector's rescue by reducing import duty, ban all imported substandard engine oil into the country, give us more services in the port as majority of the raw materials for the engine oil are imported. We also need government to put new refineries up and repair the old ones where the raw materials can be refined. If these are done, I'm sure we can provide more jobs, contribute to the economy and save some foreign exchange for Nigeria."

With about 500 work force, Ammasco International Ltd Managing Director Mr. Babalola Muideen Oyeyemi, said their employees are put into trade related systems where they can work for some years then decide to be on their own having gone through training during their work for future sustenance.

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