Business

Customs agents protest 15% NAC levy, to shut down Lagos ports Monday

Published

3 years ago

April 23, 2022

The Association of Nigerian Licensed Customs Agents (ANLCA) says its members will embark on one-day warning strike on Monday April 25 over the introduction of a 15 per cent National Automotive Council (NAC) levy.

The Taskforce Chairman of ANLCA, Alhaji Rilwan Amuni,

said this in a statement obtained by the News Agency of Nigeria (NAN) on Friday in Lagos.

The levy was recently introduced by the Nigeria Customs Service (NCS) on used imported vehicles, a decision which did not go down well with the clearing agents in the country’s maritime sector.

The agents argued that the NAC levy is mostly meant for new vehicles, questioning the rationale behind the introduction of the duty on used vehicles.

The circular said that the warning strike was a fall-out of consultations among critical stakeholders.

“We have consulted widely among critical stakeholders as par the 15 per cent NAC and “illegal benchmarks on Pre-Arrival Assessment Report (PAAR)”.

“It has been concluded that the 15 per cent NAC is a fraud and an obnoxious policy.

“In view of this, in conjunction with other stakeholders there will be a one-day warning strike/protest on April 25 by 10am, starting from our ‘Holy Ground’ in front of Grimaldi.

“And we will move down to Customs Area Controller (CAC’S) of Port and Terminal Multi-services Ltd. (PTML) and Tincan enroute all other terminals in Tincan and Apapa,” it said.

The circular, however, expressed optimism that the authorities concerned would reverse the “Illegal 15 per cent NAC and also review the benchmarks on PAAR” within the next 48 hours.

It said that all members should be ready to down tools and ensure total shutdown at the ports after the warning strike, if the policy was not reversed.

“Please note that April 25 and 26 is just a ‘warning strike’, agents are allowed to do their jobs and tidy up against Wednesday in lieu of whether there will be a reverse or not,” it said.

Related Topics:Customs agents Featured NAC levy

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PH refinery: 200 trucks will load petroleum products daily, says Presidency

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No fewer than 200 trucks are set to load petroleum products at the government-owned Port Harcourt Refinery, the presidency has said.

A presidential spokesperson, Sunday Dare, made this known in a statement through his official X handle on Tuesday.

Newstrends had reported that the Nigerian National Petroleum Company on Tuesday announced that Port Harcourt Refinery has resumed operations and crude oil processing after years of inactivity.

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Breaking: CBN increases interest rate to 27.50%

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November 26, 2024

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Breaking: CBN increases interest rate to 27.50%

The Central Bank of Nigeria (CBN) has raised the lending interest to 27.50 per cent from 27.25 per cent.

This latest increase in the Monetary Policy Rate came after a meeting of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) on Monday and concluded Tuesday.

The Monetary Policy Rate measures the benchmark interest rate.

The CBN Governor, Yemi Cardoso, announced this in Abuja on Tuesday after the MPC meeting, last for the year, held at the apex bank’s headquarters.

He said the MPC voted unanimously to raise the MPR by 25 basis points from 27.25% to 27.50%; and retain the Cash Reserve Ratio (CRR) at 50% for Deposit Money Banks and 16% for Merchant Banks.

The CBN governor also said the MPC retained the Liquidity Ratio (LR) at 30% and Asymmetric Corridor at +500/-100 basis points around the MPR.

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Nigeria’s unemployment rate dropped to 4.3% in Q2 – NBS

Published

16 hours ago

November 26, 2024

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Nigeria’s unemployment rate dropped to 4.3% in Q2 – NBS

Nigeria’s unemployment rate stood at 4.3 per cent in the second quarter of 2024, the National Bureau of Statistics (NBS) has said in its latest report.

The report released on Monday said the unemployment rate decreased compared to the 5.3 per cent recorded in the Q1 of 2024.

The NBS defined the unemployment rate as the share of the labour force (the combination of unemployed and employed people) who are not employed but actively searching and are available for work.

“The unemployment rate for Q2 2024 was 4.3%, showing an increase of 0.1 percentage point compared to the same period last year,” the report stated.

“The unemployment rate among males was 3.4% and 5.1% among females.

“By place of residence, the unemployment rate was 5.2% in urban areas and 2.8% in rural areas. Youth unemployment rate was 6.5% in Q2 2024, showing a decrease from 8.4% in Q1 2024.”

Report also said the unemployment rate among persons with post-secondary education was 4.8 per cent; 8.5 per cent among those with upper secondary education, 5.8 per cent for those with lower secondary education, and 2.8 per cent among those with primary education in Q2 2024.

Employment rate – 76%

The report showed that the employment-to-population ratio, which measures the number of employed workers against the total working-age population, increased to 76.1 per cent in Q2 2024.

“In Q2 2024, 76.1% of Nigeria’s working-age population was employed, up from 73.1% in Q1 2024,” the report stated.

Self-employment – 85.6%

The report further showed that Nigeria’s labour market saw a notable shift as the proportion of self-employed individuals increased in Q2 2024.

It stated, “The proportion of persons in self-employment in Q2 2024 was 85.6%.”