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FG EXPLAINS REASON FOR PLACING BAN ON IMPORTATION OF VEHICLES THROUGH LAND BORDERS

Main opposition All Progressives Congress (APC) presidential candidate Mohammadu Buhari speaks after casting his vote at a polling station in the 'Gidan Niyam Sakin Yara A ward' at Daura in Katsina State on March 28, 2015. Voting began in Nigeria's general election but delays were reported countrywide because of technical problems in accrediting electors. AFP PHOTO/PIUS UTOMI EKPEI (Photo credit should read PIUS UTOMI EKPEI/AFP/Getty Images)

FG EXPLAINS REASON FOR PLACING BAN ON IMPORTATION OF VEHICLES THROUGH LAND BORDERS

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.

A senior official of the Federal Ministry of Finance ( FMoF), who craved anonymity said the Service alone loses over N150 billion yearly to vehicle and importation of other items such rice through the land borders.

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, the source said.

The 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 however pointed out that the country is suffering economic losses because of obstacles that impede trade facilitation at the nation’s sea ports.

Shittu identified extortion, poor port access roads, high port charges, impunity and violation of concession agreement as major problems that led to the importation of vehicles and other items through land borders.

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