The Nigeria Customs Service (NCS) has disclosed that it might begin slashing duties on vehicles and tractors from 35 to about 10 percent next week.
This was contained in a statement released by Comptroller-General of Customs, Hameed Ali, in Abuja.
Ali said the management of the service was expecting an official communication from the finance ministry on the matter any moment from now.
According to him, 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.
“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, Ali said all aspects that concerned the NCS had been adhered to.
The NCS boss maintained 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.