New Slashed Vehicle Tariff Takes Off Next Week – Custom

Comptroller–General, Nigeria Customs Service (NCS), Hameed Ali,  yesterday, said the proposed slash in duties on vehicles and tractors from 35 to 10 per cent may take off next week. Vehicle tariff

“We are the proponent 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’re 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,” Ali said at the 2021 edition of the International Customs Day celebrations held in Abuja  themed: “Customs Bolstering Recovery, Renewal and Resilience for Sustainable Supply Chain.”  Vehicle tariff

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According to him, the vehicle tariff reduction is contained in the draft 2020 Finance Bill. It was initiated by Customs. The bill was made to ease the scathing transportation cost in the country due to high cost of vehicles. Vehicle tariff

The Customs boss also described  the N1.5 trillion generated last year as a pleasant surprise, even as he hailed his officers and men for working hard to generate such amount, despite the COVID-19 pandemic.

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