Shipping Company Raises Imported Vehicles Tariff by 25%, Gives Implementation Date

Shipping Company Raises Imported Vehicles Tariff by 25%, Gives Implementation Date

  • Comet Shipping Agencies Nigeria Limited has said that it is raising tariffs for imported vehicle
  • The agency said that a 25% increase will become effective starting from December 1st, 2023
  • This means that the charges on 15cbm car will now increase from from the initial N6, 930 to N8, 620 journalist Zainab Iwayemi has over 3-year-experience covering the Economy, Technology, and Capital Market

Nigeria's shipping company has raised the cost of tariffs on imported vehicles.

Comet Shipping Agencies Nigeria Limited, one of the most successful indigenous shipping companies trading on Nigerian Waterways, made this known in a statement.

Nigerian shipping company raises imported vehicles tariff by 25%, gives implementation date
Nigerian shipping company stated that there will be a 25% hike in tariff on imported vehicles and other consignments. Photo Credit: Thierry Dosogne
Source: Getty Images

A 25% hike to be effective soon

In a notice to customs agents, the shipping company stated that from December 2023, there will be a 25% hike in tariff on imported vehicles and other consignments.

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The notice read in part:

Effective 1st of December 2023, there will be an increase in our tariff. This adjustment is essential to enable us to continue delivering the exceptional services expected of us. We understand that changes in tariff may be challenging, and we want to assure you that we remain committed to providing the best possible services.

According to the company, the 25% increase in imported vehicles will trigger a hike in new car units up to 15cbm.

This would raise the charge from the initial N6,930 to N8,622. Similarly, Vans above 15-25cbm will be raised from N10,450 to N13,062.

Customs kick against the hike

However, licensed customs agents operating in the maritime sector have kicked against the hike.

Frank Obiegesi, a chieftain of the Association of Nigerian Licensed Customs Agents, told Punch that agents are uncomfortable with the development.

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Thomas Alor, the Chairman of the Port & Terminal Multipurpose Limited Terminal Chapter of the National Association of Government Approved Freight Forwarders, noted that the increase will affect importation drastically as it is too much.

Meanwhile, a report stated that Tokunbo car prices have increased triple-fold recently due to naira woes and import taxes.

Earlier, reported that Nigerian customs have adjusted the foreign exchange rate for clearing imported goods at Nigerian ports.

"Use other authorized banks": Nigerian banks deactivated by customs for failing to remit duties collected reported that Adewale Adeniyi, the Nigeria Customs Service's acting Comptroller-General, has ordered the deactivation of some banks because they have not remitted levies collected.

Abdullahi Maiwada, the service's national public relations officer, said this in a Thursday statement.

The Central Bank of Nigeria (CBN) recently assured Nigerians that the banking system is healthy and has no cause for concern.


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