Nigeria’s Customs Service announces lower import duties for vehicles, according to the Comptroller-General, Adewale Adeniyi. Speaking to lawmakers, Adeniyi says the federal government has reduced the tariff on used vehicles from 15% to 5%. For brand-new vehicles, he says the duty has been cut from 20% to 10%. The change is reported in coverage by Vanguard and Premium Times, both attributing the figures to Adeniyi. Premium Times also reports that, alongside the tariff reductions, the Customs Service sets a revenue target of ₦11 trillion, which Adeniyi discusses in the same engagement with lawmakers. Across the reports, there is consistent agreement on the specific percentage reductions for used and new imported vehicles. The published accounts do not describe additional conditions or timelines for implementation, but they present the tariff cuts as an announced policy shift communicated to lawmakers by the Customs Service leadership.
Nigeria Customs cuts vehicle import tariffs to 5% for used and 10% for new
Nigeria’s Customs Service announces lower import duties for vehicles, according to the Comptroller-General, Adewale Adeniyi. Speaking to lawmakers, Adeniyi says the federal government has reduced the...
- Nigeria’s Customs Service announces reduced import tariffs for vehicles.
- Duty on used vehicles is cut from 15% to 5%.
- Duty on new (brand-new) vehicles is cut from 20% to 10%.
- The tariff changes are attributed to Comptroller-General Adewale Adeniyi.
- Premium Times reports Customs also sets an ₦11 trillion revenue target in the same context.
The Comptroller-General of the Nigeria Customs Service, Adewale Adeniyi, has told lawmakers that the import duty on used vehicles has been reduced from 15 per cent to five per cent. In comparison, the rate for new vehicles has been cut from 20 per cent to 10 per cent. The post Customs announces lower tariffs on imported vehicles, sets ₦11tn revenue goal appeared first on Premium Times Nigeria.
2 hours agoThe Comptroller-General of the Nigeria Customs Service, Adewale Adeniyi, has told lawmakers that the import duty on used vehicles has been reduced from 15 per cent to five per cent. In comparison, the rate for new vehicles has been cut from 20 per cent to 10 per cent. The post Customs announces lower tariffs on imported vehicles, sets ₦11tn revenue goal appeared first on Premium Times Nigeria.
2 hours agoComptroller-General of the Nigeria Customs Service, NCS, Adewale Adeniyi, said yesterday the federal government has reduced the import tariffs on used vehicles from 15 per cent to five and on brand-new vehicles from 20 per cent to 10. The post FG has cut import tariffs to 5% for used vehicles, 10% for new — Adeniyi appeared first on Vanguard News.
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