The acting Comptroller General of the Nigeria Customs Service, Adewale Adeniyi, announced that the service would seek a review of the 15 percent National Automobile Council (NAC) levy imposed on imported vehicles. Adeniyi made this statement during his meeting with stakeholders under Zone ‘A’ of the Service at Tincan Island Ports.
Last year, the Customs introduced a 15 percent NAC levy on imported vehicles, but Adeniyi acknowledged the challenges faced by agents, particularly the decline in vehicle importation.
Adeniyi assured stakeholders that the service would engage the government on the NAC levy and other policies affecting the agents’ businesses. He emphasized that while making a profit in business is essential, it must be done within the framework of the law.
The Customs boss requested the agents to be patient and allow the service time to address their concerns. He acknowledged the decrease in vehicle importation, leading to a reduction in job opportunities for agents.
At the Apapa Command, Adeniyi was informed about the challenges faced by freight forwarders at the port. The acting National President of the Association of Nigerian Licensed Customs Agents, Mr. Kayode Farinto, commended Adeniyi for disbanding the CGC Strike Force but raised concerns about the behavior of the Customs Police, urging a redefinition of their role.
Opinion:
The move by the Nigeria Customs Service to review the 15 percent National Automobile Council levy on imported vehicles is a significant step towards addressing the challenges faced by stakeholders in the industry. The decline in vehicle importation has impacted agents’ businesses, and it is crucial for the government to consider the implications of these policies on the sector’s growth and overall economy. Engaging with stakeholders and listening to their concerns is essential in finding balanced solutions that promote fair trade practices while supporting the interests of all parties involved. It is hoped that the proposed review will result in a more conducive environment for the automobile industry, facilitating trade and encouraging investment in the country. The tripartite meeting between the Central Bank of Nigeria, Nigeria Customs Service, and clearing agents is also a positive suggestion that can promote better coordination and understanding of exchange rate fluctuations in international trade.