Southeast Traders Reject Increment On Import Duties

The South-East Amalgamated Markets Traders Association (SEAMATA) has rejected the increase in the import duty on cargoes recently effected by the Nigerian Customs Service.

The group comprises traders of markets in the Southeast, as well as those from the region doing businesses in other parts of the country and beyond.

The group’s position is contained in a statement jointly signed by its president-general, Gozie Akudolu, and secretary-general, Alex Okwudiri.

The release stated that, “Between 2020 and now, the amount charged on cargoes as import duties has risen in geometric proportion from N750,000 to N2 million, again to N3 million and currently, to N3.3 million for 40-ft containers, while 20-ft containers jumped to N1.8 million.

“The Nigerian Customs, on their own, worked out payable import duties now based on ‘estimated’ invoice value of consignment as against the actual invoice value of goods from the country of origin.

“This development is not only bringing untold hardships to importers but is also compounding the pains of the citizens as it dovetails to an astronomical increase in prices of imported goods as the Nigerian Customs estimated invoice value is always far above the actual cost of the imports.

“The indiscriminate estimate of goods by Nigerian Customs is adversely affecting the prices of goods in the markets today, both imported and locally-produced as it triggers a chain reaction.

“Even agricultural products are not spared in the chain effect of the price increase.

“This is to save the Nigerian citizens from further economic hardships as further economic pains that follow such situations could lead to social unrest which our nation doesn’t need now.”