The Association of Nigerian Licensed Customs Agents (ANLCA) has appealed to the Federal Government to come to the aid of freight forwarders and customs brokers over the incessant changes in government fiscal and monetary policies that is affecting international trade chain.
The association, through its acting National President, Dr Kayode Farinto made this known during the association’s recent National Executive Council which meeting held in Lagos.
He lamented that due to the removal of fuel subsidy and subsequent liberalization of the exchange rate to be determined by market forces, the Central Bank of Nigeria (CBN) has fixed the official exchange rate for imports at N589 per dollar and this has led to increase of about 45% on import duty on vehicles as well as other consignments.
He further stated that the PTML terminal in Lagos has also signified their intentions to increase storage charges by 45%. “All these policies is affecting the Customs Brokers who are the ones generating the revenue”, he said
Farinto urged the Federal government to grant a 1% out of their annual revenue collection as incentives to mitigate and lessen the sufferings of Customs Brokers in the Country.
He said ” Due to the happenings by the new government of President Bola Ahmed Tinubu which has removed fuel subsidy , the foreign exchange official rate which is now to be determined by the market forces (ie, willing buyer and willing seller ), and that on Friday the CBN has changed our rate to N589 to a dollar and by this , the import duty on vehicles has increased by about 45%. While that of other consignments has also increased.
“Just this morning, PTML terminal has shown intention to increase her storage charges by about 45%. I want to officially request for mitigants from the Federal government for Customs Brokers . This becomes imperative to ameliorate the sufferings of Customs Brokers in Nigeria.
“These mitigants should be in the form of incentives like giving us 1% of money generated annually and other things to cushion the effect of these policies. I shall unveil other mitigants that I think will be useful to us next week “. Farinto said.
He also urged the Federal government to look at the factors of calculating the Value Added Tax ( VAT) of 7.5%
He said “It is not wrong, but tantamount to taxing taxes.ie that value should only be calculated on Imports duty. And if possible the 7% Ports Development Levy be abrogated because it is long overdue, as it has overstayed its usefulness’ ‘.
