Tinubu’s Govt Suspends 25% Penalty On Improperly Imported Vehicles

President Bola Ahmed Tinubu’s led government has suspended the 25 per cent penalty fee on improperly imported vehicles.

The development was confirmed in a statement released on Friday by the Nigeria Customs Service (NCS) National Public Relations Officer, Abdullahi Maiwada.

According to Maiwada, the NCS had received instructions from the Minister of Economy and Coordinating Minister of Finance, Wale Edun, to temporarily suspend the charges on improperly imported vehicles.

Naija News understands that the Federal Government recently introduced a 90-day period for individuals to regularize their import duties on certain types of vehicles.

The service had previously stated that import duties and a 25 per cent penalty must be paid in accordance with the import guidelines, procedures, and documentation requirements for used vehicles under the Destination Inspection Scheme in Nigeria (2013) and the NCS Act 2023.

However, Maiwada provided an update stating that the service has now been instructed to establish a three-month window for the regularization of import duties on specific categories of vehicles.

He said: “The Nigeria Customs Service, under the directives of the Honourable Minister of Finance and Coordinating Minister of the Economy, has initiated a 90-day window, effective from 4th March 2024 to 5th July 2024, for the regularisation of import duties on specific categories of vehicles..

“To ease economic hardship and encourage compliance, the Honourable Minister and Coordinating Minister of the Economy has approved the suspension of the 25 per cent penalty previously imposed in addition to import duty on improperly imported vehicles.

“Stakeholders, including vehicle owners, importers, and agents, are encouraged to seize this opportunity to regularise import duty payments within the designated 90-day timeframe.”