The Federal Government banned the importation of vehicles through the land borders because it is losing over N250 billion yearly, in duties and levies that would have been collected by the Nigerian Customs Service (NCS), and other government agencies at the port, The Nation has learnt.
A senior official of the Federal Ministry of Finance, who craved anonymity said the Service alone loses over N150b yearly to vehicle and importation of other items such as rice on land borders.
The source said, no Customs command at the border stations has collected N3billion revenue in a month, between the last three and four years, whereas, Customs at Tin-Can and Apapa, generate over N1billion daily at the ports inspite of the recession.
President, Association of Nigerian Licensed Customs Agents ( ANLCA), Prince Olayiwola Shittu, also said the government took the step because the country may be losing additional N800 million yearly as a result of high import duties on vehicles, as most of the terminals dedicated to handling car importation are almost idle.
He identified extortion, poor port access roads, high charges, impunity and violation of concession agreement as issues that led to the importation of vehicles and other items through land borders.
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