Nigeria Customs Service Reviews Fees to Meet Modern Reality, Says Lawmaker
In an effort to align with current economic realities, the Nigeria Customs Service has increased licensing fees for agents and freight forwarders by 20-fold to ₦10 million. According to Leke Abejide, Chairman of the House Committee on Customs, this review is not discriminatory but rather a necessary adjustment to reflect the rising costs of doing business in the country.
Speaking on Channels Television’s Morning Brief, Abejide explained that the increase is a result of the devaluation of the naira, which has significantly impacted the cost of importing goods. “One container before did not cost ₦5 million. Because of the devaluation of naira, you will see that one container can cost ₦20 million or even more,” he said.
Abejide believes that the new fees are a reflection of the current economic situation in Nigeria. “It’s not about discrimination, it’s about doing the right thing. For them to adjust this cost in reality with what is happening in the economy, it is not a bad idea,” he added.
The increased fees will affect Customs agents and freight forwarders applying for new licenses, who will now pay ₦10 million instead of the current ₦515,000. Renewal fees will also increase from ₦215,000 to ₦4 million, while importers and exporters will require bank bonds of up to ₦20 million, up from ₦350,000, as a financial guarantee.
Additionally, bonded warehouses will see a significant increase in licensing fees, from ₦60,000 to ₦20 million, while renewals will cost ₦10 million, up from ₦60,000. Terminals will be required to obtain bank bonds of ₦500 million, a 900% increase from the current ₦50 million.
Abejide expressed confidence that operators will understand the need for the fee adjustments. “I believe those operators, too, will understand. It is about the reality on the ground,” he said. The new fees are part of efforts to modernize the Nigeria Customs Service and align its operations with current economic realities.
