By Ade Jacobs
The Comptroller General of the Nigeria Customs Service (NCS), Hameed Ali, has disclosed that the implementation of the reduced tariff on imported vehicles and tractors as contained in the 2020 Finance Act is expected to commence next week.
The tariff was reduced from 35 to about 10 per cent in the amended Finance Act.
Ali gave the hint while briefing journalists in Abuja on Wednesday.
While disclosing that the new tariff was initiated by the NCS to ease the cost of transportation in the country, he informed them that agency was expecting an official communication from the Ministry of Finance which will authorise it to go ahead with the implementation of the tariff.
The CG 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.”
Commenting on the African Continental Free Trade Agreement (AfCFTA), Ali informed the press that the NCS was adequately prepared.
The CG said it was, however, reaching out to the AfCFTA secretariat, to add the Nigeria Customs to agencies overseeing rules of origin as the Chambers of Commerce cannot handle it alone.