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In recent years, one of the challenges bedeviling Nigerian ports is the issue of overtime cargoes. From Apapa to Tin-Can, and Onne Ports, sights of abandoned and overtime container boxes and vehicles, are conspicuous. In terms of the implication of their presence at our sea ports, overtime cargoes threaten port efficiency through congestion. They also necessitate high cargo dwell time, and delay turnaround time of ships as vessels spend between 18 and 25 days waiting time, before discharging at the ports. A recent report indicates that there are over 10,000 overtime cargoes worth billions of naira abandoned by importers last year with some of these cargoes being in the ports for between seven and 10 years having taken 30 per cent of port space, which invariably congests the various terminals at the ports due to lack of space. Terminal operators and users of port services, who suffer incalculable economic losses as a result of ports congestion, have not relented in calling on the Nigeria Customs Service, NCS, in particular, to wade in and arrest the situation. Through on-the-spot auctions of overtime goods by the Customs, experts believe Nigerian sea ports would be decongested. Expectedly, the NCS, in hearkening to the demands of critical stakeholders, recently revamped its e-auction platform. The move was geared towards fast-tracking the effective and transparent disposal of goods impounded, together with overtime cargoes. “This strategic move aligns with the guidelines outlined in the newly enacted Nigeria Customs Service Act, 2023, showcasing the agency’s dedication to efficiency and fairness. “The new platform is an upgraded version of the previous portal designed to provide Nigerians with an equal opportunity to participate. “Since its relaunch, the platform has recorded impressive results, including:

The Nigeria Customs Service (NCS), has approved 90-day window for regularizing import duties on specific categories of vehicles. This is contained in a statement signed by National Public Relations Officer, Chief Superintendent of Customs Abdullahi Maiwada on Sunday In Abuja. Maiwada stated,” In a proactive move to enhance compliance and streamline import processes, the Nigeria Customs Service (NCS), under the directive of the Honourable Minister of Finance and Coordinating Minister of the Economy, is pleased to announce a 90-day window for regularizing import duties on specific categories of vehicles. “This initiative applies solely to vehicles imported into Nigeria where the requisite customs duty has not been fulfilled or vehicles detained due to undervaluation. “While we strive for inclusivity, it is important to clarify that vehicles seized and condemned will not be released under this arrangement and shall be forfeited to the Federal Government in accordance with extant regulations. “All vehicle owners, Importers/Agents seeking to regularize import duties on their vehicles are required to apply to the Zonal Coordinators (Zones A, B, C, D) and CAC FCT Command. “They must submit the necessary available documents and process Vreg in line with the Federal Ministry of Finance directives for the registration of imported motor vehicles.” He added,”Valuation and assessment of the vehicles will be carried out using the VIN valuation method. Import Duty and a 25% penalty shall be paid in tandem with the import guidelines, procedures, and documentation requirements for used vehicles under the Destination Inspection Scheme in Nigeria (2013) and the Nigeria Customs Service Act 2023. Also, duty payments must be made using the Procedure Code specifically created for this exercise. “This initiative reflects our unwavering commitment to facilitating compliance. We encourage all stakeholders to capitalize on this opportunity within the stipulated timeframe.”

The Nigeria Customs Service (NCS) has adjusted the foreign exchange rate for its tariffs and duties. The new rates were reflected on the single window trade portal of the federal government. According to information on the portal, the NCS exchange rate has gone up by 42.5 percent or N404.94 to N1,356.88/$, as of Friday — from the preceding rate of N951.94/$. The adjustment followed the depreciation of the naira at the Nigerian Autonomous Foreign Exchange Market (NAFEM) — on which customs rate is benchmarked.Advertisement At the NAFEM, also known as the official foreign exchange market, the naira closed at N1,461.90/$1 as of Thursday, depreciating from Wednesday’s N1,455.59/$1. Also, in the parallel market, the naira traded against the dollar at N1,400, compared to the N1,530 rate reported the previous day. Among other tariffs, the NCS collects customs duties in Nigeria, levied on imports.Advertisement Rates vary for different items, typically from 5 percent to 35 percent, and are assessed with reference to the prevailing harmonised commodity and coding system (HS code). Reacting to the increase, Jonathan Nicole, president of the Shippers Association of Lagos (SAL), said the new exchange rate for cargo clearance would increase inflation. “There have been a lot of sad stories as regards doing business in our domain – the maritime sector,” he said. “The new exchange rate will increase inflation and businesses will be grossly affected, terminating projections before imports. The rate will affect the manufacturing sector and goods and services will increase. The cost of transportation will skyrocket.Advertisement “At the end of a transaction, the general public will be made to pay for the failure of our economic policies. Unemployment will increase and some companies are shutting down already due to paucity of funds.” Nicole said the success of a country is determined by the management of the commonwealth for all. He added that where the “citizens are impoverished, the nation becomes epileptic and this is what is happening at the moment”. Nicole told the government to ensure fair distribution of the nation’s resources for all and sundry and also advised shippers to brace up for tougher policies noting that the current exchange rate would not be the last.