Customs to enforce duty-free policy on steel, electric vehicles, others


The Comptroller General of the Nigeria Customs Service (NCS), Adewale Bashir Adeniyi, has assured Nigerians that the service would implement all fiscal policies directed by the federal government to revive the economy.

Adeniyi, who spoke on a monitored live television programme, yesterday, said the service would implement the Ministry of Finance’s directive on the removal of import duties on steel and electric vehicles as well as value-added tax (VAT) on LPG.

He said the service has no choice but to implement the directives meant to engineer development in the various sectors of the economy and to also communicate to the public to make people understand the rationale behind the policies.

Adeniyi also affirmed that the recent review of foreign exchange, which recently affected import and export transactions at the ports, was done by the Central Bank of Nigeria (CBN) and not Customs. He explained that due to the convergence of the various rates, Customs cannot independently use exchange rates without recourse to the official rate.

According to the Customs boss, the President has not pretended about the fact that the administration would take several very bold decisions and reforms aimed at repositioning the Nigerian economy.

“One of the reforms that have been undertaken in the very few days of the present administration is the merger of the FX market and its various segments. This has repercussions and effects on our operations. What this means is that we cannot use exchange rates independently. We cannot use exchange rates that are not determined or specified through the merged FX rate.

“So, what we do is just update our systems. It is not about Customs reducing or increasing the exchange rate. We have nothing to do with whether the exchange rate goes up or down. We follow what is prescribed for us by the monetary authority, which is the CBN,” he said.

The Customs boss also revealed that the service was considering implementing a salary review for officers, noting that attending to the welfare of officers was one of his priorities.

He said the service would make provisions for insurance cover for those that have any form of injuries, while discharging their official duty, adding that career progression also comes under officer welfare.

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