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Published On: Thu, Mar 1st, 2018

Customs waiver policy leads to loss of N500bn revenue – Senate

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Nigerian-Senate-1By Musa Adamu and Ikechukwu Okaforadi

The Nigerian Senate has accused the Nigerian Customs Service (NCS) granting spurious wavers to assembly plants owners who end up importing finished products, costing the nation a revenue loss of N500 billion.
The Senate Committee on Customs which made the allegation while on oversight visit in Lagos, warned that the Senate would be forced to take action if the practice by the Customs continues.
The lawmakers were in Lagos to investigate the Customs Service alleged revenue leakages.
The lawmakers further said some owners of assembly plants had indulged in assembling different brands of vehicles instead of sticking to one permitted by the policy, threatening the Customs with cancellation of the policy through the amendment of the extant laws to provide for stiffer sanctions against offenders.
Chairman of the Committee, Hope Uzodinma, further faulted the Customs for not meeting its revenue collection targets for the past five years, warning the service against allowing any external interference to define its function.
In his response, the new Comptroller of Nigeria Customs Device, Tincan Island Ports, Abdullahi Musa, said that there had been misconception on the definition of importation of vehicle parts among related Agencies, urging the National Assembly to quickly wade into the existing policy to make the personnel discharge their duties effectively.
Musa disclosed that the port was facing enormous challenges, including poor infrastructure, lack of scanners, epileptic electricity, insufficient examination bay and shortage of government warehouse facilities thereby hindering the service effective performance.

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