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Customs Import Duty Has Been Increased
#1
commy :
The official Customs exchange rate was increased day before yesterday without any notice, without any prior hint. The rate which used to be N306 per dollar has now been increased to N326 per dollar. Consequently, this has led to an increase in the cost of clearing cars and other imported items at the Nigerian ports.

The new rate was announced on Monday morning and it was implemented immediately throwing lots of vehicle owners and clearing agents into a state of confusion.

An agent said he had calculated the total clearing cost of his customer's 2005 Toyota Camry using the usual surface duty of N201,000. Now, he has to go back to his customer to explain that the surface duty has been increased to N214,000 (note that these quoted surface duties is different from total clearing costs. Surface duty does not include taxes, shipping/terminal charges and other ancillary costs).

According to the Public Relations Officer of the Association of Nigeria Licensed Customs Agents at Tin Can Island Port, Mr Emmanuel Onyeme, all transactions and cargoes that were cleared at the port on Monday were already paying N326 per dollar.
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