According to a report from Bulletin News, sources within the Nigeria Customs Service have revealed that the 25% surcharge on improperly imported vehicles has been temporarily suspended. This development comes as the Honorable Finance Minister Wale Edun introduces an import duty waiver scheme.
The Customs Public Relations Officer, Chief Superintendent Abdullahi Maiwada, confirmed that the Comptroller-General has suspended the additional 25% levy in accordance with the directives from the Minister. Edun has initiated a 90-day window, starting from March 4th to July 5th, during which vehicle owners can regularize their duties for specific vehicle classes.
The intention behind this move is to provide relief for vehicle owners while also boosting government revenue collection. According to Maiwada, importers and clearing agents now have the chance to settle their duties within the allotted time. Failure to do so may result in the reinstatement of the penalty after the window expires in July.
Industry analysts view this decision as a means to achieve two objectives: easing the burden on car owners and generating tax income through the orderly regularization of past imports. However, some have raised concerns about the long-term sustainability of ad-hoc waivers and whether there is a need for more fundamental changes to customs vehicle duty laws.
In conclusion, the temporary suspension of the 25% surcharge demonstrates the authorities’ commitment to strike a balance between enforcement and considering the welfare of citizens. Only time will tell if these periodic waivers are sufficient or if more significant reforms to customs vehicle duty laws are necessary.
