N64 million Clearing Cost Was Paid For This Car
Based on insider information that was received by an Instagram user with the handle @carcontinent, the clearing cost paid for the Urus is N64m!
Mind you, that is not the cost of buying the car. It also does not include the cost of shipping the car to Nigeria.
The N64million is just the charges paid at the port, inclusive of the Customs Duty paid to the Nigerian Custom, at the port of entry into the country (Tin Can Island Port).
It sounds incredible, right?
On the comments section of the Instagram post by @carcontinent, several reactions were seen demonstrating disbelief.
Some who commented felt it was untrue that such a huge amount would be used to just to “clear” the vehicle. Especially as the duty is almost the same amount as the value of the vehicle.
One of the commenters also said: “this car is about 70m now and duty is 64m? Are we missing something?”
According to another user: “2020 Brand new Lamborghini Urus is $207,326 with a destination charge of $3,995, which is N76,789,375, how come they will pay N65m as duty? That’s almost the entire amount of the SUV plus destination charge……no Customs need to calm down first”.
How True Is This Claim?
In Nigeria, currently, the import duty on a brand new car is 70% (35% surface duty + 35% additional levy). The value of the car is determined by the Nigeria Custom at the ports.
The starting price (base price) of a brand new Lamborghini Urus is about $220, 000 dollar. However, the price can quickly exceed $280, 000 after customization.
Let’s assume Nigeria Customs work with the base price of $220,0000. That would now translate to the calculation below.
|TAX TYPE||TAX CODE||AMOUNT (₦)|
|35% IMPORT DUTY (SURFACE DUTY)||DTY||25,102,000|
|35% ADDITIONAL LEVY FOR 1 YEAR OLD CARS WITH LESS THAN 3,000KM ON THE ODOMETER||25,102,000|
|0.5% ECOWAS LEVY||ETL||358,600|
|7% PORT LEVY||SUR||1,757,140|
Apart from the total duty, additional fees will also be paid. These additional fees include shipping and terminal fees, clearing agency fees as well as other miscellaneous expenses.
In some cases, the clearing cost may be lower than this depending on the value of concession that’s granted by Customs. However, the clearing cost could also be higher if Nigeria Customs values the car to be more than $220, 000 as many premium cars are sold far above their base price.
This is by no means the most expensive car that has been cleared in Nigeria. The clearing cost of the Rolls-Royce Phantom 8 is in the range of N100m.
The Lamborghini Urus has an estimated selling price of N150m in Nigeria.
The Lamborghini Urus is an SUV manufactured by Italian automobile manufacturer Lamborghini.
It was unveiled on 4 December 2017 and was put on the market for the 2018 model year. It is Lamborghini’s first SUV since the LM002.
The Urus is powered by a 641 hp; 4.0 L twin-turbocharged V8 engine. Furthermore, the Lamborghini Urus accelerates from 0-100 km/h in 3.6 seconds, 0-200 km/h in 12.8 seconds and top speed is 305 km/h.
Lamborghini said it sold 8,205 vehicles worldwide in 2019, up from 5,750 in 2018. Surprisingly, almost 5,000 Urus was sold out of that amount.