Reduce excise duties on all engineering components, NIEEE urges FG

68998 reduce excise duties on all engineering components nieee urges fg
68998 reduce excise duties on all engineering components nieee urges fg

In a bid to boost the Nigerian engineering industry, the Nigerian Institution of Electrical and Electronic Engineers (NIEEE) has called on the federal government to reduce excise duties on all engineering components. This call was made by the Chairman of NIEEE, Lagos chapter, Mr. Kings Adeyemi, during the celebration of the 2021 World Engineering Day held on March 4th.

According to Adeyemi, the high cost of engineering components is hindering the growth of the industry and making locally made products uncompetitive in the global market. He noted that the government’s plan to increase the excise duty on engineering components by 50% will only worsen the situation, and pleaded with the government to reconsider the move.

Adeyemi also urged the government to provide adequate infrastructure and support for local engineers to improve capacity and compete with foreign counterparts. He noted that many Nigerian engineers are capable of producing world-class products if given the necessary support.

Furthermore, the NIEEE chairman stressed the importance of the engineering profession in national development, noting that engineers play a critical role in solving the country’s infrastructure deficit and driving economic growth.

The celebration of World Engineering Day is aimed at promoting sustainable development by highlighting the contributions of engineers to society. The theme for this year’s celebration is “Engineering for A Healthy Planet: Celebrating the UNESCO Engineering Report.”

In conclusion, the call by NIEEE to reduce excise duties on engineering components is a much-needed step towards boosting the growth of the Nigerian engineering industry. It is hoped that the government will heed this call and provide the necessary support to help local engineers compete globally.

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