The Comptroller-General of Customs, Hameed Ali has disclosed on Tuesday that the reduction in the duties on vehicles and tractors from 35 to about 10 per cent may take-off next week.
According to him, the management of the service was expecting an official communication from the finance ministry on the matter any moment from now.
Ali explained that 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.
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“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.”
While commenting on the Continental Free Trade Agreement, 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 rules of origin, as this should not be left to chambers of commerce alone, adding that the NCS should part of the team.
