The Nigeria Customs Service says it will soon commence the implementation of the new duty rates on imported vehicles and tractors that were revised downward.
The Comptroller-General of Customs, Hameed Ali, while speaking to journalists in Abuja, said he was waiting for directive from the finance ministry on the matter before implementing the new law.
Ali said this in Abuja at the commemoration of the 2021 International Customs Day themed ‘Customs bolstering recovery, renewal and resilience for sustainable supply chain’.
According to him, the vehicle tariff reduction, as contained in the 2020 Finance Act, was initiated by the NCS to ease the cost of transportation in Nigeria.
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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 a 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.”
Speaking on the African Continental Free Trade Agreement, Ali said all aspects that concerned the NCS had been adhered to.
He, 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 part of the team.
The Finance Act 2020 stipulates a reduction in import duty on tractors and motor vehicles from 35 percent to 10percent, to ease the cost of transportation in the country.
