Fuel Hike

On Monday, the South-East Amalgamated Markets Traders Association (SEAMATA) expressed their displeasure over the increase in customs import duty.

Why it matters?
SEAMATA is a union that covers all the Igbo traders in all the markets in the South-Eastern zone and other part of the country.
 
SEAMATA President-General, Chief Gozie Akudolu, and the Secretary-General, Mr Alex Okwudiri, said this in a statement signed by both of them that the increment in import duty was not calculated rightly; and that it is just an attack on the Igbo tribe.
 
The statement said, “Between 2020 and now, the amount charged on cargoes as import duties have risen in geometric proportion from N750,000 to N2m, again to N3m and presently, to N3.3m for 40ft containers; while 20ft containers jumped to N1.8m.”
“The Nigerian Customs, on their own, work out payable import duty now, based on ‘estimated’ invoice value of consignment as against the actual invoice value of goods from the country of origin.”

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