Council of Managing Directors of Licensed Customs Agents (NCMDLCA) on Tuesday
called for a review of customs duty valuation processes.
stated this in an interview in Lagos, said the review had become imperative in
view of the cumbersome cargo clearance processes at the ports.
non-review of duty valuation had hindered trade facilitation.
valuation issue is a critical area that needs government to look into. Is not
to issue DN, because when you issue DN; most of these consignments are
consignments that are billed for collections and LCs.
the day you issue DN more than their costs, they will transfer the money. That
is why our foreign exchange has collapsed.
started this thing, the foreign exchange collapsed because they were looking
they have made one trillion, whereas they have lost more than close to three
implication of that is that you drive people from your process. Processes are
supposed to be simplified and transparent and predictable and consistent.
talk about review, there is need for the people who understand the port to be
appointed to look at the review. If not, if you look at, we have lost our
cargo, we have lost our transit, we have lost our trans-shipment.
completely in a very big dark that other countries are taking over from us. Our
process here is inhibiting,’’ he said.
valuation system is not reviewed, industries may begin to leave Nigeria for
other West African countries’’.