Wednesday, February 1, 2023
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Increase in Imported Vehicles Duty may Cause Backlog at Seaports – Freight Forwarders Warn

Freight forwarders have reported that there may be a backlog of imported vehicles at the country’s seaports due to the Nigeria Customs Service’s recent decision to increase the duty on imported vehicles by 10%.

In an interview with a correspondent in Lagos, the agents claimed that the service had implemented the 10% duty increase but had not applied the 10% annual depreciation value to imported used vehicles.

The Deputy President of the National Association of Government Approved Freight Forwarders, Nnadi Ugochukwu, questioned why the NCS had started a new financial calendar in January instead of April. Nnadi also expressed concern that the move could lead to a decrease in vehicle imports.

The Chairman of the Port & Terminal Multipurpose Limited chapter of the Africa Association of Professional Freight Forwarders and Logistics of Nigeria, Geoffrey Nwosu, and a licensed Customs agent, Timothy Adebowale, also commented on the issue.

The National Public Relations Officer for the NCS, Timi Bomodi, stated that the change was based on the government’s fiscal policy on age limits.



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