NIMASA partners Customs, CBN, others on review of vessels import tax

Dakuku Peterside BY Eguono Odjegba The Nigerian Maritime Administration and Safety Agency, NIMASA, last week, disclosed that it was currently e

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Dakuku Peterside

BY Eguono Odjegba

The Nigerian Maritime Administration and Safety Agency, NIMASA, last week, disclosed that it was currently engaging the Central Bank of Nigeria, CBN, the Nigeria Customs Service, NCS, the Federal Ministry of Finance and its supervisory ministry, the Ministry of Transportation, in working out a special tariff template for the importation of vessels and its parts by indigenous shippers.

NIMASA spokesman, Mr Isichei Osamgbi, in a statement, said the Director General of NIMASA, Dr Dakuku Peterside was responding to the need for the workability of Cabotage Law on the backdrop of challenges faced by indigenous players, believed to be swimming against unfair industry policies and competition.

The statement said that Peterside was concerned about certain negative situations affecting the implementation of the Cabotage Act, and explained that the government of President Muhammadu Buhari was determined to remove bottlenecks militating against indigenous players.

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According to the statement, “At the moment, a temporary import permit mainly granted foreigners attract just one per cent but importing vessel by Nigerian attracts 13%, so it’s difficult to compete”, adding:

“We are engaging the Nigeria Customs Service on the need to review this regime. We have also made appreciable progress in our discussions with the Central Bank of Nigeria to see Nigerians in the maritime sector have access to single digit facilities so they can compete favourably with their international peers.”

Source

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