Freight forwarders and licensed customs agents have lamented that a combined RORO and containerised 5,000 imported used vehicles are currently trapped at the Ports and Terminals Multipurpose Limited (PTML) over the Vehicle Identification Number (VIN) policy implementation.

Infinity Tyres

The freight agents under the auspices of Joint Consultative Committee of Licensed Freight Forwarders Association at PTML, also called on management of the Nigeria Customs Service (NCS) to halt the obnoxious policy, by extending it by three months describing it as inimical to trade.

According to a statement, “The new Vin-Valuation system on vehicle as introduced by the policy maker is without human face due to the fact that it will hamper existing trade being the major point of vehicle hub into the country with not less than 80% of total vehicles that came into the country.

“It is important to note that over 5000 vehicles and containers are presently trapped in the ports as a result of this policy with its attendant effect on the economy; the aforementioned system challenge is also not helping in this urgent economy issue.

“Also to note that Vin-Valuation as good as the platform is, will sky rocket vehicle price in the open market because adequate consideration was not given to depreciation and rebate for instance”.

The statement jointly signed by leaders of AREFFN, NAGAFF and APFFLON at the PTML Chapters maintained, that ” This obnoxious policy was made without consideration and consultation with critical stakeholder for adequate pricing that will not have maximum impact on the end users because of the market value.

“Furthermore the pricing mechanism used in arriving at the price factors will definitely push our principal importer out of business with multiplying effect on the revenue expected by the government and our business environment.

“The ICT section is also aware of the perennial system challenge; this period should be seen as transition period.

“We therefore request that this policy should be on hold for at least 3 months for consultation and arrived at reasonable pricing that will facilitate trade without friction.

“We give 72hrs notice to reverse this policy for more consultation without which we shall withdraw our professional services from all the nation ports that is facing similar challenges.”