The reduction in vehicles and tractors' duties from 35 to about 10 per cent may take off next week, the Nigeria Customs Service said on Tuesday.
Comptroller-General of Customs, Hameed Ali, who disclosed this to journalists in Abuja, said the service management was expecting an official communication from the finance ministry on the matter any moment from now.
As contained in the 2020 Finance Act, he said the NCS initiated the vehicle tariff reduction to ease transportation costs in Nigeria.
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.
However, he 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.
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Comptroller-General of Customs, Hameed Ali, who disclosed this to journalists in Abuja, said the service management was expecting an official communication from the finance ministry on the matter any moment from now.
As contained in the 2020 Finance Act, he said the NCS initiated the vehicle tariff reduction to ease transportation costs in Nigeria.
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.
However, he 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.
ICYMI: Slash on imported vehicles’ duties begins next week – Customs
Okechukwu Nnodim, Abuja The reduction in the duties on vehicles and tractors from 35 to about 10 per cent may take off next week, the Nigeria Customs
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