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Friday, August 2, 2024

Port users demand clarity on import duty waivers

Port users have called on the federal government to release a comprehensive list of food items affected by the import duty suspension.

• August 2, 2024
NIGERIAN PORT
NIGERIAN PORT(CREDIT:NIGERIAN PORT AUTHORITY)

Port users have called on the federal government to release a comprehensive list of food items affected by the import duty suspension.

The port operators made the call in separate interviews on Friday in Lagos while expressing concerns about its implementation.

Kayode Farinto, Wealthy Honey Investment CEO, urged the comptroller-general of customs, Adewale Adeniyi, to publish the list of exempted items.

Mr Farinto, a former executive of the Association of Licensed Customs Agents (ANLCA), suggested additional measures to alleviate the burden on clearing agents.

He listed the measures to include a fixed exchange rate for imports and an extended age limit for imported vehicles.

“If the government can provide an official rate for people travelling to Jerusalem, I see no reason why it cannot consider the clearing agents for waivers on import duties or peg the exchange rate of imported goods at N1,000.

“The government should also review the age limit for imported vehicles to 15 years instead of 13 years. This measure could help reduce the sufferings of the masses,” Mr Farinto said.

While supporting the duty waiver, Nicodemus Odolo, a trustee of the Shippers Association, Lagos (SAL), emphasised the need to ban food exports to ensure domestic sufficiency.

Mr Odolo also raised concerns about the potential impact on local farmers and called for improved security to encourage agricultural production.

The federal government announced the suspension of import duties and taxes on essential food items on Monday to combat rising food prices.

The customs boss said the move aimed to make necessities more affordable for Nigerians.

Mr Adeniyi also said the NCS had streamlined export processes to facilitate the efficient movement of Nigerian goods to international markets.

He said that the initiative included introducing advanced ruling systems and authorised economic operators, as well as a time-release study designed to enhance trade, stimulate the economy, and create new opportunities.

“These reforms will provide farmers, artisans, and entrepreneurs with a faster path to global markets, with benefits to families and communities,” he said. 

(NAN)

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