By DAPO OLAWUNI
The Nigeria Customs Service has said that all imported goods have now been excluded from the export prohibition list, and that all previously imported goods can now be re-exported upon payment of 2.5% Export surcharge of the present value, subject to approval from the Federal Ministry of Finance.
This is contained in a circular dated 25th of May 2022, signed by the Acting Assistant Comptroller General of Customs, ACG Nasir. A which was sighted by DAILY TREND.
According to the customs, President Muhammadu Buhari has recently approved for implementation, the 2022 Fiscal Policy Measures with effect from 1 Apr 22.
The circular which was addressed to all Area Controllers, Federal Operations Units and All Unit Heads read in part:
“I am directed to forward the Federal Ministry of Finance Circular conveying the President’s approval for the implementation of the 2022 Fiscal Policy Measures with effect from 1 Apr 22.
“The Fiscal Policy is made up of Supplementary Protection Measures for the implementation of the ECOWAS Common External Tariff (CET) 2022-2026 and Excise duties on Non-Alcoholic beverages, Alcoholic beverages, Cigarettes & Tobacco products as well as Telecommunication Services.
“The policy has also removed from the Export Prohibition List “All goods imported”, As such all previously imported goods can now be re-exported upon payment of 2.5% Export surcharge of the present value subject to approval from the Ministry.
“Note that a ninety (90) days grace period commencing from the implementation of this circular has been granted to all importers who had opened Form ‘M’ and entered into irrevocable Trade Agreement. They should be allowed to process and clear their goods at the prevailing duty rates until 30 Jun 22”