The federal government has launched a new platform, ‘Incentive Monitoring and Evaluation Platform (IMEP), to monitor import duty exemptions in the country.
Minister of Finance and coordinating minister of the economy, Wale Edun, said the IMEP will be integrated into the existing import duty exemption certificate (IDEC) programme.
The IDEC programme offers strategic import duty reductions for priority sectors critical to national development, such as manufacturing, agriculture, and healthcare.
Edun said the introduction of IMEP signifies the government’s commitment to ensuring “these exemptions are used effectively to stimulate economic growth”.
“The newly launched IMEP ensures that only eligible entities benefit from the IDEC program,” Edun said.
“This rigorous enforcement will optimise tax expenditures by reducing waste, blocking leakages, and ultimately fostering a more equitable economic environment.”
