Maritime
NCS Enforces FG’s 22% Increase On Import Duty
The Nigerian Customs Service (NCS) has begun enforcement on the 22.24 percent increase on import duty, by the Federal Government.
Federal Government had increased import duties by as much as 22.24 percent, a development that may worsen the inflationary trend that is already prevailing in the country.
The increase, which is the third this year from records, is expected to drive the cost of clearing a 40-foot container from N7.3 million to N8.9 million, and is warranted by the depreciation of the Naira, as the naira value of the imports rose astronomically, affecting the import duty component.
NCS in a release on Friday, explained that the Comptroller-General of Customs, Adewale Adeniyi, and the entire personnel were not aware of the development until it was communicated by the Ministry of Finance.
The statement further added that the NCS only carry out the directive of the Federal Government.
It, however, noted that the Service is not oblivious of what await importers, adding that the agency will maximise its service delivery and work on clearing cargoes as soon as paper works are completed.
”The NCS recognises the import of this exchange rate, particularly when it is done without prior notice on trade.
“We have addressed freight forwarders; we recognise what the Nigerian business community is going through but there is little we can do about fiscal and monetary policies. Our role is to implement them.
“But we align ourselves with government policies because every decision taken is for the collective interest of the nation and I expect that we all abide by it.
“What we said we should do as Customs, which we have told the freight forwarders and clearing agents, is that to mitigate the impact of what they are going to go through in the next few days, we will maximize our service delivery by ensuring that importers do not incur demurrage and associated costs”, the statement noted.
Although the Association of Nigerian Licensed Customs Agents (ANLCA), in reacting to this development through its Vice President, Segun Oduntan, said there was nothing anybody can do about it, he appealed to the government to assist Nigerians in transportation by pegging the duty rate on buses and transport vehicles at zero duty.
He also noted that the development will result in higher inflation on goods and services in the country.
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