Duties On Tokunbo Cars To Be Reduced – Kemi Adeosun

Forum 7 years ago

Duties On Tokunbo Cars To Be Reduced – Kemi Adeosun

As the Federal Government commences the disposal of assets confiscated from past government officials, Minister of Finance, Kemi Adeosun has disclosed that the price of just a single piece of seized jewellery is enough to buy a house.

She also disclosed that the Federal Government would reduce import duties on used vehicles that come in from neighbouring countries.

Speaking at a media parley in Abuja on Friday, Adeosun, who declined to give details about the identities of those who forfeited the jewellery, however, said her ministry had now been given the mandate to manage the recovered assets.

The Economic and Financial Crimes Commission (EFCC) some time ago disclosed that its operatives seized jewellery worth billions from the home of a former minister in Abuja.

She said that so far, she has released over N400 billion for capital projects since May when the 2016 budget became operative and another N60 billion was going to be released by Friday evening.

According to her, the present administration was taking giant steps towards expanding the economy but that there is always a delay between policy formulation stage and the time that its effect would be felt in an economy.

For instance, Adeosun disclosed that work on the international wing of Nnamdi Azikiwe International Airport which was suspended due to paucity of funds, N4.5 billion counterpart funding has been paid to the contractors.