Reduction on imported vehicles’ duties begins next week – CG
The Nigeria Customs Service says the reduction in the duties on vehicles and tractors from 35 to about 10 per cent may take off next week.
Comptroller-General of Customs, Hameed Ali, announced this to journalists in Abuja, on Tuesday.
Ali said the management of the service was expecting an official communication from the finance ministry on the matter any moment from now.
The CG said the vehicle tariff reduction, as contained in the 2020 Finance Act, was initiated by the NCS to ease the cost of transportation in Nigeria.
Read Also: Customs generates N1.5trn revenue in 2020
He said, “We are the proponents of the new tariff. I’ve been torn apart by many people criticising it, saying I used my connection to get it done. But it is in the overall interest of Nigeria.
“Now, it has become law. We are now waiting for the finance minister to give us a formal conveyance of that Act. Once we receive it, we commence implementation immediately and inform our commands.
“We are hoping that latest by next week, it will become operational.”
On the African Continental Free Trade Agreement, Ali said all aspects that concerned the NCS had been adhered to.
Hameed Ali, however, noted that the service would need certain inputs from the AfCFTA secretariat, such rules of origin, as this should not be left to chambers of commerce alone, adding that the NCS should be part of the team.
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