Vehicle Importation : Customs List Smuggling, Valuation And Under-declaration As Some Of Its Challenges

Vehicle Importation : Nigeria Customs boss list smuggling, valuation and under-declaration as some of its challenges.

Says vehicle importation has seen significant growth over the years, driven by high demand for both brand new and used vehicles.

Comptroller-General of Customs stated this at a summit organised by the NAJA, in conjunction with the NADDC.

The Nigeria Customs Service (NCS) has listed car smuggling, valuation and under-declaration as some of the challenges affecting the service, relating to importation of vehicles into the country.

Comptroller-General of Customs, Adewale Adeniyi, stated this at a recent summit organised by the Nigeria Auto Journalists Association (NAJA), in conjunction with the National Automotive Design and Development Council (NADDC) in Lagos.

Adeniyi, represented by Customs Area Controller, Port and Terminals Multi-Services Limited (PTML), T. M. Daniyan, also listed corruption and compliance issues, policy and regulatory framework as part of challenges affecting Customs in Nigeria.

Comptroller-General of Customs also explained that vehicle importation into Nigeria has seen significant growth over the years, driven by increasing demand for both brand new vehicles and used (Tokunbo) ones.

Also speaking at the event, the NADDC Director General, Joseph Osanipin, emphasized the importance of the summit in his keynote address.

“This summit presents a critical platform for us to come together, discuss the current state of the Nigerian automotive industry, and chart a course for its future success,” he stated.

Osanipin highlighted the immense potential of the Nigerian automotive industry, driven by a growing population and increasing demand for safe, reliable, and affordable vehicles. However, he also acknowledged significant challenges, notably the reliance on imported vehicles.

“This reliance puts pressure on our foreign exchange reserves, hinders job creation, and stifles economic growth within our country. We must strive towards a future where Nigeria is not just a consumer, but also a producer of high-quality automobiles,” Osanipin urged.

Other participants at the summit were members of the Nigeria Automobile Manufacturers Association (NAMA), Automotive Local Components Manufacturers Association of Nigeria (ALCMAN), and members of NAJA.

• See Also : Vehicle Importation Dropped By 45% In The First Quarter Of 2024 Due To Forex Crisis – Customs Boss