The Nigerian Customs Service (NCS) has declared its intention to substitute the proposed 4% import levy with the current 1% Comprehensive Import Supervision Scheme (CISS) levy.
Adewale Adeniyi, the Comptroller General of Customs (CGC), disclosed this at an event in Lagos aimed at raising awareness among stakeholders in the B’Odogwu platformThe CGC, who also serves as the Chairperson of the World Customs Organization (WCO), clarified that although the 4 percent FOB levy was constitutionally established, its reintroduction followed thorough deliberation and discussions with pertinent stakeholders.As a reminder, the suggested 4% import levy, which was first declared as a replacement for the 1% CISS levy, faced extensive criticism from importers, manufacturers, and other parties involved.A number of people had voiced worries that the augmented tax would result in higher prices for goods, inflation, and a drop in competitiveness.
However, when speaking to the stakeholders, the CGC explained that it was necessary to reintroduce the levy in order for the NCS to keep pace with technological changes in customs operations.
“It aims to finance technology and the modernization of Customs operations through the native B’Odogwu trade platform. He mentioned, “The move to B’Odogwu requires considerable financing.”
In the meantime, the Organized private sector within Nigeria’s trade logistics chain has praised the NCS B’Odogwu platform, noting that it has introduced greater transparency, enhanced digital transaction tracking, and eliminated all down-time associated with NICIS II.
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