Shippers, Agents Urge 70% Duty Review

shippers

As we enter the last four months of the year, the Association of Nigerian Licensed Customs Agents shippers (ANLCA) has urged President Muhammadu Buhari to review the automotive policy, which imposes 70 per cent levy on imported vehicles, to stop cargo diversion to ports of neighbouring countries.

Since the enactment of the policy, Nigerians were yet to witness the mass production of made-in-Nigeria vehicles, the group said. The levy was introduced by the Jonathan administration to support the local industry.

ANLCA President Prince Olayiwola Shittu said the 35 per cent duty imposed on used vehicles is obnoxious, urging President Buhari said to shippers to review the policy. The policy, he said, had rendered the RoRo terminal useless because it had increased the costs of doing business and encouraged diversion of cargoes to neighbouring countries’ ports, thus, leading to loss in government’s revenue.

“The Federal Government needs to review the auto policy and make the port attractive for business. The maritime sector is confronted with many problems that need to be addressed to boost trade and generate employment,” he said.

About the Author

Samed Olukoya
Samed Olukoya is the CEO/Founder of investorsking.com, a digital business media, with over 10 years' experience as a foreign exchange research analyst and trader. A graduate of University of East London, U.K. and a vivid financial markets analyst.

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