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The Nigeria Customs Service (NCS) has stressed that adoption of the ECOWAS Common External Tariff (CET), does not mean that the old tariff plan is jettisoned.
The Assistant Controller General of Nigeria Customs Service (NSC), ZONE A, Victor Gbemudu, stated this at the official launch of the CET, recently in Lagos.
He said “In Nigeria we have the National Automotive Policy, the Sugar Policy, the Solid Minerals Policy and the Agricultural Policy, every member country is entitled to 3 percent adjustment which enables member countries to be able to protect whatever industry they have to protect and in protecting our industry, we now have what we call Import Adjustment Tax (IAT).”
The Representative of Customs, Assistant Controller Anthony Ayalogu, stated “Whether you clear your cargo in Contonu or anywhere, the levy which is now called Import Protection Tax is country specific, because with the CET, when your cargo passes through Ghana ports for instance that does not pay IAT when your cargo gets to Nigeria you will be required to pay it.”
He said that the Customs is launching the adoption of the CET and at the same time adopting the revised edition of the Harmonization Commodity Description Coding System (HS) Code.
He further explained that the CET which is grouped into five bands of regional integration, is enumerated, thus, essential commodities is at 0 percent, essential commodities raw materials and capital goods is at 5 percent, intermediate products is at 10 percent, 20 percent is for consumer goods while specific goods for economic development is at 35 percent.
