In spite of Nigerian government's prohibition on importation of vehicles through land borders, the volume of vehicles smuggled into the nation from Cotonou through Seme, Idiroko and other land outskirts has risen cosmically in the previous four months. This is even as the administration of Benin Republic a month ago endorsed the diminishing of charges on transit vehicles by 27%.
The volume of autos imported through the Autonomous Port of Cotonou in travelling to Nigeria has additionally recorded noteworthy development since March 2017.
While the importation of autos in Cotonou achieved is on a low of 3,500 units in January 2017, the volume of autos released there a month ago was well more than 10,000 units, as indicated by information acquired by the media from the Autonomous Port of Cotonou.
"From all signs, this figure will develop in the following month, as the naira has revalued against the CFA and an ever increasing number of brokers are disparaging the port of Cotonou," Elisee Dieudonne, a ranking staff of a transportation line calling at the small West African nation's port.
Now we observed that the old and accidented vehicles, which are paying relatively low level of duties, are released in Lagos while the clean and more costly second hand vehicles are released in Cotonou," she included.
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We noticed that, the Benin Republic Ministry of Transport has endorsed the decrease of the sum charged for the vehicles in travel. Because of this decrements, the cost to clear an auto released in Cotonou in transit to Nigeria was cut from CFA399,920 (N257,000) to CFA290,000 (N186,000) with impact from July 1, 2017.
"We presume the deduction in costs in transit to Cotonou will redirect much more vehicles to Benin Republic, while the volumes in Lagos will stay as it is," He said.
Lamentably, Nigeria's tax on imported vehicles remains cosmically high at 35% import duties and another 35% extra charge adding up to an aggregate of 70% which is the most highest globally, this is said to demoralizing utilization of Nigerian ports.
This diverting importers of Nigerian-bound vehicles and different cargoes incline toward landing them at Cotonou and other neighboring ports and carry them into Nigeria to keep away from restrictive levies charged by the Nigeria Customs Service.
We noticed that, the Benin Republic Ministry of Transport has endorsed the decrease of the sum charged for the vehicles in travel. Because of this decrements, the cost to clear an auto released in Cotonou in transit to Nigeria was cut from CFA399,920 (N257,000) to CFA290,000 (N186,000) with impact from July 1, 2017.
"We presume the deduction in costs in transit to Cotonou will redirect much more vehicles to Benin Republic, while the volumes in Lagos will stay as it is," He said.
Lamentably, Nigeria's tax on imported vehicles remains cosmically high at 35% import duties and another 35% extra charge adding up to an aggregate of 70% which is the most highest globally, this is said to demoralizing utilization of Nigerian ports.
This diverting importers of Nigerian-bound vehicles and different cargoes incline toward landing them at Cotonou and other neighboring ports and carry them into Nigeria to keep away from restrictive levies charged by the Nigeria Customs Service.
SOURCE: Sips and Ports
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About the Blogger: Adedamola Adewoye is a Senior custom relationship officer. He has over 15 years experience interfacing with Nigeria custom and other Government agencies at the port.
Contact:
Email: transdeliverylogistics@gmail.com, autoshippingsolutions@gmail.com
Tel:+234 8023032614, 09168894238
About the Blogger: Adedamola Adewoye is a Senior custom relationship officer. He has over 15 years experience interfacing with Nigeria custom and other Government agencies at the port.
Contact:
Email: transdeliverylogistics@gmail.com, autoshippingsolutions@gmail.com
Tel:+234 8023032614, 09168894238
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