"Commodities taxes/levies and their effects on commodity trade and move" by Joe Alegieuno and A O. Balogun

Bullion

Title

Commodities taxes/levies and their effects on commodity trade and movements in Nigeria.

Authors

Joe Alegieuno, Central Bank of Nigeria
A O. Balogun, Central Bank of Nigeria

Keywords

Commodity boards, Commodity marketing, Sale/purchase tax, Taxation

Abstract

The Commodity Boards were noted for paying farmers prices that were lower than the world prices and sometimes even lower than their production costs. This difference represented implicit taxation of farm incomes and served as a dis-incentive to domestic production. This paper examines the administration of commodity taxes/levies and their effect on commodity trading in Nigeria as well as assessing the various systems of commodity marketing in Nigeria. The paper concludes that Commodity trade, in Nigeria began with the British companies exporting raw materials to their industries abroad. His was followed by the Commodity/Marketing Board era and finally trade liberation. Commodity Taxes/ Levies started during the days of the Commodity/Marketing Board.

Author Bio

The authors were staff of Central Bank of Nigeria.

Publication Title

CBN Bullion

Issue

Volume

Recommended Citation

Alegieuno, Joe and Balogun, A O. (2000) "Commodities taxes/levies and their effects on commodity trade and movements in Nigeria.," Bullion: Vol. 24: No. 3, Article 4.
Available at: https://dc.cbn.gov.ng/bullion/vol24/iss3/4

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