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Nigerian Customs Announces Reduction In Cost Of Import Duties On Vehicles

Nigerian Custom has announced that there will be a slash on imported vehicles duties from next week.

The Nigerian Customs Service (NCS) has announced that a reduction in cost of imported vehicle duties will begin next week.

Nigerian Customs Announces Reduction In Cost Of Import Duties On Vehicles 1

The Comptroller-General of Customs, Hameed Ali, made this known during an interview with newsmen on Tuesday, January 26, 2021.

According to him, the NCS is expecting an official communication from the Ministry of Finance about the vehicle tariff reduction which is contained in the 2020 Finance Act and initiated by the NCS to ease the cost of transportation in Nigeria.

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“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,” Hameed Ali said.

KanyiDaily had reported that thousands of seized vehicles estimated to cost about N30 billion are currently wasting away at various warehouses of the Nigeria Customs Service (NCS) nationwide.

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