The South-East Amalgamated Markets Traders Association (SEAMATA) has condemned and rejected Nigerian Customs’ recent “astronomical and indiscriminate” increase in import duties on goods.
SEAMATA is a trade union that represents traders in all marketplaces in the South-East Geopolitical Zone, as well as traders of South-East origin conducting business across the Federation and in the Diaspora.
This is according to a statement issued in Enugu on Monday by SEAMATA’s President General, Chief Gozie Akudolu, and Secretary General, Mr. Alex Okwudiri.
The Nigerian Customs Service created a technique of calculating import duty payments on commodities and established a certain minimum amount payable for each 40-foot container, according to the statement.
According to the statement, even commodities with the lowest percentage tax of 5% are not exempt.
Current import tariffs are no longer determined based on the invoice amount of consignments, according to the statement.
The statement reads in part: “Between 2020 and now, the amount charged on cargoes as import duties has risen in geometric proportion from N750,000 to N2 million, again to N3 million and currently, to N3.3 million for 40-ft containers; while 20-ft containers jumped to N1.8 million.
“The Nigerian Customs, on their own, worked out payable import duty now based on “estimated” invoice value of consignment as against the actual invoice value of goods from the country of origin.
“This development is not only bringing untold hardships to importers but is also compounding the pains of the citizens as it dovetails to an astronomical increase in prices of imported goods as the Nigerian Customs estimated invoice value is always far above the actual cost of the imports.
“The indiscriminate estimate of the value of goods by Nigerian Customs is adversely affecting the prices of goods in the markets today, both imported and locally-produced as it triggers a chain reaction.
“Even agricultural products are not spared in the chain effect of the price increase.
“In the general meeting held in Onitsha on Wednesday, Nov. 24, 2021, the traders resolved to condemn and reject the increment.
“We are appealing to the Honourable Minister of Finance, Budget and National Planning to prevail on the Nigerian Customs too, as a matter of urgency, suspend the exercise.
“This is to save the Nigerian citizens from further economic hardships as further economic pains that follow such situations could lead to social unrest which our nation doesn’t need now”.
NAN
