Due to the implementation of the National Vehicle Registration Policy (VREG), importers of vehicles into the country have been asked to pay extra N6,000 charges.
The Federal Ministry of Finance introduced the policy which fully started last week Monday at the Tin Can Island Port, Lagos.
The government had in August 2020, commenced moves to create a National Vehicle Registration (VREG), which is an information system to curb evasion of duty payment on imported vehicles,
The VREG aims to eliminate the sale of stolen, accident-wrecked and unsafe vehicles from the market.
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Reacting to the imposition of fresh charges on imported second-hand vehicles, customs licensed clearing agents said that the the move would further jack up the prices of vehicles in the market.
The Public Relations Officer of the Association of Nigerian Licensed Clearing Agents (ANLCA), Tin-Can Island Chapter, Comrade Onome Joy Monije, said the amount charged under the VREG policy varies from one vehicle to another, depending on the model and year of manufacture.
Monije noted that the amount is an additional charge imposed on vehicles by the federal government, aside from the normal value charge on imported vehicles by the Nigeria Customs Service (NCS), which is the agency in charge of revenue collection.
Another agent, Abdul Subaru, is of the view that the implementation of the policy should be suspended until January 2022 to enable importers to utilise their respective loans without additional unplanned financial burdens.
