New Customs import Duties Benchmark on 20ft Containers to Apapa, Tincan Island, Lekki Deep sea port and Onne port

New Customs Import Duties Benchmarks for all imported goods in 40ft containers to Apapa, Tincan Island, Kirikiri ports, and Onne seaport in Nigeria.

The Nigeria Customs Service is using the New Customs import Duties Benchmark on 40ft Containers for importers.  As a Nigerian importer of goods, you need to be informed and understand how the trade system works. It means any time you want to ship goods from all countries to Nigeria, all pending or new trade policies must be known to avoid loss in profit or issues with relevant government agencies like customs, NAFDAC, SON, NESREA, DSS, Quarantine, and others.

For clarification, these import duties benchmarks do not mean that is the actual amount you will pay. It means, no matter the amount of your cargoes, that is the minimum value you will declare. Even if your cargo does not meet the minimum charges (I mean if the value of charges to pay is less than the benchmark), you are still expected to pay the same amount.

The new customs import duties Benchmark for a 40ft container, regardless of the contents and value, is N13,500,000 NGN (Thirteen Million Five hundred thousand Naira).

In the next few seconds, we will analyze some instances

1. Let's say importer Bola bought goods worth $7000 USD, and the goods will fill a 40ft container.

• The minimum freight charges will be around $3500 USD
• The CIF value will be $10,500 USD
• Let's assume the HS code percentage is 5%import duty with no levy, and it has 7.5% VAT
• To calculate the import Duties
• CIF value in Naira is N16,254,000 NGN
• Percentage calculation is 14.86375% by N16,254,000 NGN = N2,415,953.925 NGN
• N2,415,953.925 NGN is not up to N13,500,000 NGN (Thirteen Million Five hundred thousand Naira) minimum benchmark
• The importer can't pay N2,415,953.925 NGN because is not up to the N13,500,000 NGN (Thirteen Million Five hundred thousand Naira) minimum benchmark

2. Let's say importer Chika bought goods worth $7000 USD, and the goods will fill 40ft container.

• The minimum freight charges will be around $3500 USD
• The CIF value will be $10,500 USD
• Let's assume the HS code percentage is 10% import duty with no levy, and it has 7.5% VAT
• To calculate the import Duties
• CIF value in Naira is N16,254,000 NGN
• The percentage calculation is 20.615% by N16,254,000 NGN = N3,350,762.1 NGN
• The importer can't pay N3,350,762.1 NGN because is not up to the N13,500,000 NGN (Thirteen Million Five hundred thousand Naira) minimum benchmark

3. Let's say importer MUSA bought goods worth $7000 USD, and the goods will fill a 40ft container.

• The minimum freight charges will be around $3500 USD
• The CIF value will be $10,500 USD
• Let's assume the HS code percentage is 20% import duty with no levy, and it has 7.5% VAT
• To calculate the import Duties
• CIF value in Naira is N16,254,000 NGN
• The percentage calculation is 32.1175% by N16,254,000 NGN = N5,220,378.45 NGN
• The importer can't pay N5,220,378.45 NGN because is not up to the N13,500,000 NGN (Thirteen Million Five hundred thousand Naira) minimum benchmark

In conclusion, the new customs import duties benchmark for 40ft container does not mean you will pay the exact N13,500,000 NGN. you can pay as high as 15 million above if you consignment CIF value is more than the benchmark customs place on the 40ft container. Mean you the new customs duties benchmark is applied to 5% duties goods if your HS code percentage is more than 5% import duty, a customs officer may uplift the CIF values through PAAR issuance. You can contact us today, we are always available to guide you on this pressing issue.

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