Importers on Thursday lamented over the incessant changes in the calculation of import duty at the nation’s ports, stating that the cost of clearing cargo at the ports is soaring to alarming heights.
Recall that last week, the Nigeria Customs Service (NCS), acting on a policy move by the Central Bank of Nigeria (CBN), raised the exchange rate used for the calculation of import duty from N422.30/dollar to N589/dollar.
However, checks by the Nigerian Tribune revealed that as of Thursday morning, the calculation of import duty had risen from N589/Dollar to N770/Dollar.
Lamenting over the incessant changes in the Customs duty regime, some clearing agents told the Nigerian Tribune that they are already informing their clients (importers) of the new changes to reflect in the services rendered.
Speaking to the Nigerian Tribune, Festus Okoye, a clearing agent at Apapa Port lamented that as of yesterday, Wednesday, the calculation of import duty was N589 to a dollar.
According to Festus Okoye, “Just yesterday, all the jobs we filed in for were based on the N589 to a Dollar Customs import duty rate. It’s worrisome that we woke up today to see that on the Customs platform, the rate has jumped from N770 to a Dollar.
“What about the jobs that we have collected from importers based on the old rate? Some of the importers are not even picking up their calls, and the jobs are just tied down there without anything happening to them. “I had to inform some of my clients that the rates have changed this morning and that they have to send additional funds to clear their consignments.
“It’s a confusing state that we are in with this Federal Government policy of allowing the Naira to float. Many people are unsettled because the rates may just go further up in the coming days because the Naira is floating.” Also speaking, another clearing agent, Bayo Omole faulted the lack of predictability in doing business at the ports.
“The Federal Government policy of allowing Naira to float is festering uncertainties in the way and manner businesses are conducted at the ports.
“How can importers give agents money based on a rate to clear cargoes, only to be told 24 hours later that the fees have changed due to changes in Customs duty? “It breeds uncertainties I’m doing business at the ports.
There is unpredictability in the system due to this Floating Naira,” Bayo Omole told the Nigerian Tribune. When contacted, the National Spokesman of the Nigeria Customs Service, Abdullahi Maiwada said Customs does not set the exchange rate and only implements fiscal policies of the Government.
“We are not the ones who determine how much the Naira exchanges. Ours is to implement fiscal policies, not monetary policies of the Government.
“Maybe you can direct that question on why the duty rate is changing at the ports to the necessary agency of Government,” the Customs National Spokesman told Nigerian Tribune exclusively.
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