Duty On 'Tokunbo' Vehicles Now 20%, Says Customs

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The Nigeria Customs Service (NCS) has confirmed the reduction of duty payable on imported used vehicles, also known as Tokunbo, from 35 per cent to 20 per cent.

Speaking on the development, the Customs Area Controller, Tincan Island Command of the service, Compt. Kunle Oloyede, confirmed that the duty payable on Tokunbo vehicles have reduced from 35 per cent to 20 per cent.

He said, “Because when you check what is happening around, it’s high values, high rate of duty that allows smuggling through our land borders. Two or three days ago, the duty of vehicles dropped to 20 percent, government is looking at it, that why will new vehicles pay 35percent and old vehicles also pay 35percent even after giving backward integration incentives to most of those assembling plants, we still don’t have plants that can really satisfy the demands of transport sector.

 

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Can they? They are just paying lip service to pacify Nigerians ... Custom guys on our borders are millionaires!

Abeg is it 20% higher or lower? .... The message no still complete 🚶🚶🚶

Na wa o

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