By Cynthia Alo

Licensed customs agents in the country have called on the federal government to urgently clarify the implementation of inflation reduction, price stability policy at the nation’s seaports.

The agents stated this in a petition addressed to President Bola Tinubu tagged, “Clarification on the Implementation of Inflation Reduction and Price Stability (Fiscal Policy Measures, Etc) Order 2024.”

The agents in the petition signed by the President of the National Council of Managing Directors of Licensed Customs Agents (NCMDLCA), the umbrella body of clearing agents in Nigeria, Mr Lucky Amiwero, stressed the need for the government to clarify the circular presume to be signed by President Tinubu dated 1st May 2024 tagged, “Inflation Reduction and Price Stability(Fiscal Policy Measures, etc.) order 2024.”

According to Amiwero, “As critical stakeholders who are involved in the clearance of Import-Export and Manufactured goods, we noticed that three months and some days after the presidential directive no circular has been issued for the implementation of the reliefs.

“The suspension of import duty and other tariffs as contained in paragraph 2 of the document are not properly described according to each respective Tariff Headings, to properly identify the items, it will create a bottleneck in the clearance of the relief measures.”

Some of the imported goods affected, they added, include; staple food items, raw materials and other direct inputs used for manufacturing, inputs for agriculture production including fertilizers, seedlings, and chemicals, pharmaceutical products and poultry feeds, flours and grains.

The agents added that the directive that authorized millers are to Import paddy rice at Zero duty and value Added Tax for a period of six months, to improve local capacity utilization of rice millers as contained in paragraph 3, should be properly clarified to the trading public, with the proper Tariff Heading.

 ”The Value Added Tax, suspension in paragraph 4, should be properly classified according to the Tariff Heading: Basic food items and semi-processed, staple food items such as noodles and pasta , if it has been lifted from prohibition list, Raw materials inputs for the manufacturing of food items, electricity and public transportation, to properly classify and apply the correct Tariff Heading, Agricultural inputs and produce, clearly state the type of Agricultural inputs and produce according to Tariff Headings and Pharmaceutical products, if it has been lifted from prohibition list and the proper Tariff Headings, “ the petition read in parts.