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Nigeria ready to provide tax exemptions for import of equipment from Russia

Trade Representative in Nigeria Maxim Petrov pointed to "readiness of the Nigerian side to consider investment projects in a targeted way in the mentioned areas with Russia’s participation under condition of at least partial production localization on Nigerian territory"

NAIROBI, August 27. /TASS/. Nigeria may provide tax exemptions for import of commodities and equipment from Russia, including in the area of production of fertilizers, motor transport and LNG, Russia’s Trade Representative in Nigeria Maxim Petrov said in an interview with TASS.

"Following the April meeting with Minister of Industry, Trade and Investment Doris Uzoka-Anite the Nigerian side determined the following areas of cooperation with Russia: organic and inorganic fertilizers, motor transport, liquefied natural gas. The minister expressed readiness of the Nigerian side to consider investment projects in a targeted way in the mentioned areas with Russia’s participation under condition of at least partial production localization on Nigerian territory and to ensure import incentives for supply of equipment and commodities, as well as the possibility of tax holidays," he said.

In January, 34,000 tons of potash were supplied from Russia to Nigeria as a humanitarian fertilizer shipment. Uralchem has contributed over 134,000 tons of fertilizers to African nations free of charge since late 2022. More than 111,000 tons of the group’s humanitarian shipments were sent from the EU’s ports and warehouses facilitated by the UN program to Zimbabwe, Kenya, Malawi.

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Nigeria Trade & Cooperation

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