Nigeria Customs Service says reduction in the duties on vehicles and tractors from 35 to about 10 per cent may take off next week.
Comptroller-General of Customs, Hameed Ali, who disclosed this to journalists in Abuja, said NCS management was expecting an official communication from the Federal Ministry of Finance on the matter 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.
According to him, “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, Ali said all aspects that concerned the NCS had been adhered to.
The Customs boss, however, noted that the service would need certain inputs from the AfCFTA secretariat, adding that such rules of origin as this should not be left to chambers of commerce alone because the NCS should part of the team.
