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| * Minister of Finance: Dr Ngozi Okonjo- Iweala and Minister of Agriculture and Rural Development: Dr Akinwumi Adesina |
How Finance Minister Almost Frustrated New Date For Tariff On Used Vehicles
Last week extension of the implementation date of the new tariff on importation of used vehicles was almost frustrated by the Minister of Finance; Dr Ngozi Okonjo Iweala , Shipping Position Daily can authouritatively reveal.
Our correspondents in Lagos and Abuja scooped that, President Goodluck Jonathan had actually ordered the extension based on a memo that was received from the Minister of Trade and Investments; Dr Olusegun Aganga.
While sources at the Finance Ministry hinted that, the minister was actually in possession of a Presidential directive that, the new tariff should take-off in July; our correspondents in Lagos also learnt that, the sudden commencement of collection of the new tariff by the Customs was instigated by the Minister of Trade. “The new automotive policy granted a duty free concession to importers of completely knocked down (CKD) components of vehicles, but along the line, one of the new entrants into the auto assembly business imported four container loads of CKDs and the Customs wanted to collect duty, so he ran to the Minister of Trade and Investment who told the Customs boss to begin implementation of the new tariff, to facilitate a duty free concession for the automobile plant”, a source told our correspondent on Friday in Abuja.
He added that : “It is not actually true that the extension that was announced late on Thursday was because of the protest that clearing agents embarked upon that same day, there were pressures on the Minister (of Finance) to communicate the new directive to the Customs” .
He also confirmed that, the various consultations that were embarked upon by interest group, including the National Automotive Council and some groups from the maritime sector actually paved the way for the Presidential directive.
“It will interest you to know that, even NAC was not against the extension, its only the Minister of Finance who delayed conveying the approval to the Customs”, he added.
http://shippingposition.com.ng/article/revealed
Last week extension of the implementation date of the new tariff on importation of used vehicles was almost frustrated by the Minister of Finance; Dr Ngozi Okonjo Iweala , Shipping Position Daily can authouritatively reveal.
Our correspondents in Lagos and Abuja scooped that, President Goodluck Jonathan had actually ordered the extension based on a memo that was received from the Minister of Trade and Investments; Dr Olusegun Aganga.
While sources at the Finance Ministry hinted that, the minister was actually in possession of a Presidential directive that, the new tariff should take-off in July; our correspondents in Lagos also learnt that, the sudden commencement of collection of the new tariff by the Customs was instigated by the Minister of Trade. “The new automotive policy granted a duty free concession to importers of completely knocked down (CKD) components of vehicles, but along the line, one of the new entrants into the auto assembly business imported four container loads of CKDs and the Customs wanted to collect duty, so he ran to the Minister of Trade and Investment who told the Customs boss to begin implementation of the new tariff, to facilitate a duty free concession for the automobile plant”, a source told our correspondent on Friday in Abuja.
He added that : “It is not actually true that the extension that was announced late on Thursday was because of the protest that clearing agents embarked upon that same day, there were pressures on the Minister (of Finance) to communicate the new directive to the Customs” .
He also confirmed that, the various consultations that were embarked upon by interest group, including the National Automotive Council and some groups from the maritime sector actually paved the way for the Presidential directive.
“It will interest you to know that, even NAC was not against the extension, its only the Minister of Finance who delayed conveying the approval to the Customs”, he added.
http://shippingposition.com.ng/article/revealed
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