In a bid to callously achieve its insensitive revenue target of N5.79 trillion for 2024, the Nigeria Customs Service (NCS), has raised the exchange rate for cargo/vehicles clearance from N952/$ to N1.356 per dollar.
This is despite the current unbearable economic hardships in the country with Nigerians clamoring for humane living conditions on a daily basis. The criminal and insensitive increment is coming not too long after the exchange rate was raised from N783/$ to N952/$.
Recall that, it was reported in November that the exchange rate for cargo/vehicle clearance was upped from N757 per dollar to N783 per dollar, and was later raised from N783/$ to N952/$ in December.
It was believed that this draconian measure was insensitively to help the NCS achieve its over N5 trillion revenue target for year 2024.
Recall that Theliberationnews reported in December that the comptroller-general of customs, Adewale Adeniyi, disclosed that NCS has a revenue expectation of N5.79 trillion for year 2024.
Adeniyi disclosed this when he appeared before the House of Representatives committee on appropriations.
Theliberationnews gathered that the the new rate has been inputted on the portal of the Nigeria Customs Service as of Friday.
A vehicle importer simply identified as Alhaji Musa who spoke with our correspondent described the increment as insensitive, cruel and unresponsive to the deplorable plights of stakeholders in the maritime sector. A clearing agent expressed shock at why customs duty of an imported vehicle will be higher than the purchase price in the United States and other European countries.
“The government has increased officials exchange rate from 952.33 to 1356.883 translating to inhuman duty of N4.5million being paid in 2013 Nissan vehicle with purchase price of $3,000 for instance.” This is unreasonable, he exclaimed!
Also speaking, an agent, Akeem Ojo, said he was shocked to learn about the new rate, “which was before now set at N951 per dollar, condemning it as draconian and tyrannical.”
Ojo analysed that with the latest upward review of the exchange rate, the cost of importation will skyrocket.
“And this would also affect the cost of imported goods in a country like ours that currently produces nothing, he added.
All attempts to get reactions from Adeniyi and the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, on the draconian increment proved abortive as none of them picked up calls from our corespondent. This, however, confirms insinuation that the duo are not aligning with the agenda of President Bola Ahmed Tinubu of giving Hope to Nigerians.
