The imposition of a four per cent increase in charges on all consignments imported into the country by the Nigeria Customs Service (NCS), last week, drew disapproval from manufacturers, economists and other stakeholders at the weekend. The stakeholders said the hike could plunge Nigerians into deeper financial crisis.
Experts also said raising charges on imported goods negates the federal government’s bid to curtail inflation in the 2025 fiscal year.
The increment was embedded in the Comprehensive Import Supervision Scheme (CISS) which rose from 1 per cent to 4 per cent at the close of work last week Monday.
Investigations at the Tin-Can Island Port revealed that the implementation of the CISS started on Tuesday last week, with the development generating concerns among stakeholders who said the rise would impact negatively on the cost of doing business at the nation’s seaports.