The Nigeria Customs Service, NCS, has said the reduction in the duties on vehicles and tractors from 35 to about 10 per cent might begin next week.
This was disclosed by the Comptroller-General of Customs, Hameed Ali, in a chat with reporters in Abuja, noting that service was anticipating an official communication from the finance ministry on the issue any moment from now.
Ali 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.”
Speaking on the African Continental Free Trade Agreement, the Customs boss said all aspects that concerned the NCS had been adhered to.
Ali, however, stated that the service would need certain inputs from the AfCFTA secretariat, such rules of origin, as this should not be left to chambers of commerce alone, adding that the NCS should part of the team.