Stakeholders brainstorm to appraise effects of VIN-Valuation on economy

By Ray Ugochukwu

All roads will tomorrow June 28, lead to No 19 Calcutta Crescent, Apapa, Lagos, Secretariat of the Maritime Journalists Association (MAJAN), as industry stakeholders will storm the venue for a critical look on the implementation of the VIN-Valuation policy of the Nigeria Customs Service (NCS).

The valuation policy, which has shot up the cost of clearing vehicles at the ports by over 300 per cent, has caused a serious hike on the prices of automobiles in the market.

Similarly, it is said to have fueled the smuggling of vehicles into the country through unapproved routes.

It is for this reason that MAJAN is assembling shipping stakeholders to deliberate on the implementation of the policy so far and its effects on the economy.

Recall that the Nigerian Customs modified the policy after its initial implementatiion generated a serious uproar that led to service withdrawal by freight forwarders.

Those expected at the event are members of the National Association of Government Approved Freight Forwarders (NAGAFF), National Council of Managing Directors of Licensed Customs Agents (NCMDLCA) and maritime journalists.

Others are teams from the Association of Nigerian Licensed Customs Agents (ANLCA),, Auto Dealers’ Association of Nigeria (ADAN), African Association of Professional Freight Forwarders and Logistics in Nigeria (APFFLON), shipping companies, among others.

The event, which commences at 10am, will be followed with the release of a communiqué at the end of discussions.