Adewale Adeniyi, Comptroller General of the Nigeria Customs Service, revealed a significant 45% decline in vehicle imports during the first quarter of 2024 due to foreign exchange challenges.
In an interview with Arise Television, Adeniyi highlighted how exchange rate volatility affected car dealers and importers of raw materials, making it difficult for businesses to plan and operate effectively.
Despite these challenges, Adeniyi expressed optimism about the second quarter, noting some stability due to ongoing discussions led by the Minister of Finance.
He also provided an update on the verification exercise for private jet owners. Many jet owners have been leaving Nigeria to avoid verification, with only a few complying so far.
The exercise aims to ensure private jets operating in Nigeria have paid the required customs duty, aligning with international aviation laws.
Additionally, Adeniyi addressed the issue of fuel smuggling driven by high fuel prices in neighboring countries like Benin Republic and Cameroon.
The Customs Service is collaborating with relevant agencies to monitor fuel trucking in real-time and curb smuggling activities.
Adeniyi also assured that efforts are underway to improve the welfare of customs officials, including better remuneration, working conditions, and timely promotions.
Starting January 1, 2025, promotions will be announced annually to ensure deserving officers are recognized and adequately compensated.
(PUNCH)