BEVERLY HILLS, January 27, (THEWILL) – Indications have emerged that the implementation of new tariff on vehicles and tractors slashed from 35 to about 10 per cent may take off next week.
The Comptroller-General of the Nigeria Customs Service (NCS), Hameed Ali, who disclosed this to journalists in Abuja, said the management of the service was expecting an official communication from the Ministry of Finance on the matter any moment from now.
He said the vehicle tariff reduction, as contained in the 2020 Finance Act, was initiated by the NCS to ease the cost of transportation in Nigeria.
He said, “We are the proponents 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 are 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.”
On the African Continental Free Trade Agreement (AfCFTA), Ali said all aspects that concerned the NCS had been adhered to.
He, however, noted that the service would need certain inputs from the AfCFTA secretariat, such as rules of origin, as this should not be left to the Chambers of Commerce alone, adding that the NCS should be part of the team.