Forex: NAGAFF faults 43 % hike in import duties

8 Jul 2016

Forex: NAGAFF faults 43 % hike in import duties


Stanley Ezenga
Stanley Ezenga

The National Association of Government Approved Freight Forwarders (NAGAFF) on Friday described as hasty the recent 43 per cent hike in import duties by the Nigeria Customs Service (NCS)

Mr Stanley Ezenga, the National Publicity Secretary of NAGAFF, stated this in an interview with the News Agency of Nigeria (NAN) in Lagos.

Ezenga said the association only got wind of the development from the media, adding that NAGAFF and other stakeholders were not carried along.

He said that the increase in import duties was not in the interest of the masses, saying that it would increase the costs of doing business as well as prices of imported goods.

NAN reports that the NCS had through a circular issued to all Zonal Coordinators and Area Controllers on July 1, directed that all commands should begin charging duties based on the new forex regime.

The circular, signed by Mr A Adewusi, the Deputy Comptroller-General, Tariff and Trade, Nigeria Customs Service, said the imposing of duties based on the N197 to one US dollar was no more tenable.

Ezenga said; “We understand that we are in difficult times economically and that there is need for government to raise the duties based on the new forex regime.

But our position is that people are already feeling the impact of the economy and of course the hike will increase the prices of goods.

Even, if they must do it, they should have involved all other stakeholders in the whole process and arrived at something that would have been a bit acceptable to everyone.’’

He urged the government to put in place palliatives for the masses in view of the effect that the hike would have on their lives.

News Source: TheGuardianNigeria, 9jaTales

  • 0Blogger Comment
  • Facebook Comment
  • Disqus Comment

Post a Comment

Be the first to comment among your friends

comments powered by Disqus