Customs Collects N38.5bn Revenue On 209, 691 On Vehicles Imported Through Land Borders

The Nigeria Customs Service has confirmed that a total of 209, 691 units of both used and new vehicles were  imported into Nigeria through the land borders between January 2014 to December,31 2016. It also confirmed collection of  N38.5 billion as duty  on the vehicles.
Similarly, smuggled vehicles seized within the period under review stood at 5,998 and  duty of N10.2 billion was paid on  them. 
This was contained in a statement issued by Customs’ Acting Public Relations Officer, Jospeh Attah, last week in Abuja.
Giving an insight into the economic benefits of the policy, Ali said apart from being a statutory function of NCS to implement government fiscal policies, the advantages and opportunities inherent for Nigerians in the auto policy is a motivation to ensure compliance
He listed other benefits of the policy to include, channelization of motor vehicles to Sea Ports which will enable suppression of smuggling , creating business and job opportunities with the eventual emergence of bonded car parks for vehicles around the country, which ultimately will lead to the emergence of bank branches and mechanic villages around the bonded car parks and job opportunities for Nigerians.
In addition, he said the high volume of vehicle cargo for shippers will boost capacity and optimize use of facilities at our ports and car parks, higher revenue for the three tiers of government to discharge their responsibilities to Nigerians.
Other inherent advantages of the new policy listed in the statement  include, to facilitate recent collaboration among NCS, FIRS, Motor Licence Office, Police and National Bureau of Statistics, assurance of duty payment for vehicle buyers giving more confidence on the road without Customs interception while a high volume vehicle cargo can lead to government/Port Handlers engagement that will reduce handling charges.
The statement added that, “despite Nigeria’s bigger and more equipped port facilities, statistics has shown that more than 90 per cent of vehicles imported to neighbouring countries are normally on transit to Nigeria market.
‘’Though duty rates chargeable for motor vehicles at both land borders and seaports remain the same, importers of these vehicles exploit the informality of land border trade, since they are not usually manifested for Nigeria ports to smuggle through the porous border.”