FG Lifts Ban On Importation Of Furniture, Textiles

Comptroller General of Customs, Dikko Abdullahi disclosed yesterday, June 23, 2015, that the federal government had lifted ban on importation of furniture and textile materials into the country.

According to Ships and Ports, Abdullahi made this known at the launch of the Economic Community of West Africa States (ECOWAS) Common External Tariff (CET) in Lagos.

Abdullahi said that some items including furniture and textiles had been removed from the prohibition list due to the new CET regime.

Speaking on behalf of the CG, Assistant Comptroller General Victor Gbemudu, Zonal Coordinator in charge of NCS Zone A, said the items which before the implementation of the new CET were placed on outright ban will now attracts duty.

“If we go through the Common External Tariff, a lot of items has been have been removed from the prohibition list and that is going to be implemented. Furniture, textiles and the rest of them will now pay duty applicable and if we have the Import Adjustment Tax, you pay along with that,” he said.

The Customs boss explained that the inclusion of an Import Adjustment Tax (IAT) which involves additional taxes on 177 tariffs lines of the ECOWAS CET was aimed at protecting the local industries in Nigeria against the influx of foreign made goods.

Speaking on the impact of the change, Gbemudu said the ECOWAS Common External Tariff to a large extent also comes with some adjustment for member countries.”There are 97 chapters in the CET of which we have 5,899 tariff headings.Every member country is entitled to three per cent adjustment which translates into 177 tariff headings so this enables most member countries to protect whatever industries they want to protect like the auto policy, sugar policy,” he said.