FG loses revenue on vehicle imports despite ban


Image result for FG loses revenue on vehicle imports despite banDespite Nigerian government’s ban on importation of vehicles via neighbouring countries,importers have taken support in the gains offered by the Port of Cotonou in Benin Republic.

Reports say Autonomous Port of Cotonou has slashed its transit vehicle charges from N257,000 to N186,000.

Nigeria’s duty on imported vehicles remains high at 35 to 70 per cent surcharge on cargo.

Importers of Nigerian-bound vehicles prefer landing them at Cotonou and other ports, smuggling them into Nigeria through porous borders.

President, National Association of Government Approved Freight Forwarders, Increase Uche, said port of Cotonou slashed transit cost to attract Nigerian businessmen.

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