Flingpord

  Freight forwarders have said there may be congestion of imported vehicles at the nation’s seaports following the Nigeria Customs Service’s decision to raise duty on imported vehicles by 10 per cent. The agents, in exclusive interview with our correspondent in Lagos on Sunday, accused the service of effecting 10 per cent duty increase but failed to apply the 10 per cent yearly depreciation value on imported used vehicles. The Deputy President of the National Association of Government Approved Freight Forwarders, Nnadi Ugochukwu, wondered why the NCS started a new financial calendar in January when this was meant to be done in April. He said, “Importers have to pay based on 2014 model even if the vehicle is a 2008 model. So, It is true the NCS has raised duty to 2014, normally their new calendar is supposed to start by March. This has made imported vehicles to become trapped at the port, Customs increased duty by 10 per cent, but refused to implement the 10 per cent annual deprecia...