Lagos - Following relentless pressure from various stakeholders including importers and local rice farmers, the federal government has approved the slashing of the levy on imported rice from 100 percent to 20 per cent, reports New Telegraph.
With the reduction, the levy on husked brown and semi-milled or wholly milled rice has been reduced from 100 to 20 per cent for investors with rice milling capacity.
Full-time rice traders will now pay 10 percent duty and 60 percent levy.
Read more at New Telegraph.
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