Maritime

Customs awaits FG’s directive on vehicle tariff reduction

Oyo/Osun Customs impounds 500 bags of foreign rice
Written by Maritime First

The Nigeria Customs Service (NCS) says its awaiting a directive from the Ministry of Finance, Budget and National Planning on the implementation of the act concerning the reduction of tariff on vehicles.

The Comptroller-General of Customs, Retired Col. Hameed Ali, disclosed this at the commemoration of the 2021 International Customs Day with a theme “Customs bolstering recovery, renewal and resilience for sustainable supply chain”.

President Muhammadu Buhari had signed the Finance Bill, 2020 into law on Dec. 31, 2020, which captured a downward review of Excise Duty rates on tractors and motor vehicles for transportation.

“The president has signed the bill now an act, we are now waiting for the Minister of Finance to formally send to us directing for implementation. If that is done today, by tomorrow, we will inform all our commands to fully begin to implement the act.

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“The only thing that is holding it now is that we have not received the formal conveyance of that act and we are a law-abiding organisation. Once we receive the directive to commence implementation, we will immediately begin that. I hope and pray it will come this week or next week.

Also read:  AfCFTA: Customs awaits committee report on list of duties, charges for waived goods

“We are the proponents of the tariff of vehicles, it was engineered by us and pushed forward by us. I have seen publications where I have been criticised that I use my position to push for this.

“They do not realise that it is in the overall interest of Nigerians and we thank God and thank the president as well as members of the National Assembly for accepting the proposal. Today it has become a law,” Ali said.

Meanwhile, the customs boss commended the officers and men for their commitment and determination in boosting revenue generation for the country, adding that their resilience in the face of life-threatening risks kept the supply chain active.

According to him, in the year 2020, the service generated N1.5 trillion revenues as against the N1.3 trillion target set by the government as well as seized 4,304 assorted items valued at N28.2 billion.

 

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Maritime First