Why Customs’ VIN Valuation Policy Was Suspended

Comptroller General, Nigeria Customs Service, Col. Hameed Ali (rtd)



Fact have emerged on reasons the Nigeria Customs Service (NCS), suspended the Vehicle Identification Number (VIN) valuation policy recently introduced on imported vehicles.

Recall that BUSINESSinsiderng exclusively reported yesterday that the Nigeria Customs Service suspended the VIN valuation policy for 30 days.

However, a source who is involved in finding solution to the impasse between the Customs Service and clearing agents told our correspondent that the suspension was as a result of congestion at the two vehicle terminals, Ports and Terminal Multiservice Limited (PTML) and Five Star Logistics Limited.
It was gathered that backlog of vehicles have made the two Roll On Roll Off (RORO) terminals congested. Also, vessels can no longer discharge vehicles at the PTML Terminal as it is filled to brim.
It was also gathered that the Customs have agreed to streamline the VIN valuation policy, but, they vowed not to be blackmailed by clearing agents into outrightly suspending the policy.
“When we visited the ACG, she had agreed they needed to allow for those that already had  cargo here (in the RORO terminals) or on the way to avoid the congestion. And also to streamline the system. The suspension of the VIN valuation is not outrightly,” the source hinted
Recall that PTML has capacity to receive 10,000 unit of vehicles while Five Star Logistics Terminal has capacity to receive over 5000 units of vehicles.
The two RORO terminals are, however, congested as the strike entered its 10th day today, Friday, 4th March, 2022.
In a chat with journalists recently, the general manager, PTML, Tunde Keshinro, said the terminal was battling to create vehicle slots for incoming ships.
He said, “The strike has affected delivery  and once delivery is affected, the terminal is unable to deliver discharge vehicles and when you are unable to discharge vehicles in the terminal then vessels arriving will not be able to discharge and the terminal we get congested.
Also speaking, the customer care manager, Five Star Logistics Terminal, Tin-Can Island port, Chuks Okereafor, said the terminal was almost filled up as well.
“For RORO service, the capacity is a little bit above 5000 unit. The Customs and clearing agents resolve the issue as quickly as possible,” he said.

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