- September 8, 2021
- Posted by: adminer
- Category: Trade and Industry
The Badagry Chamber of Commerce, Industry, Mines and Agriculture (BACCIMA) has urged the Federal Government to intervene over the trans-border regulations enacted by Benin Republic Government on importation and exportation activities on its territory.
The President of the Chamber, Alhaji Fatai Shokunbi made the appeal in a statement on Wednesday, in Badagry, saying that the trans-border trade registration was affecting the business relationship between the two countries.
He observed that the ECOWAS Trade Liberalisation scheme had no effect on the business relationship between the two countries as Benin Republic had imposed a huge levy on imports and exports transiting the country to Nigeria.
“Benin Republic’s action is undermining the ECOWAS Trade Liberalisation Scheme (ETLS) aimed at ensuring free movement of originating products without the payment of custom duties and taxes of equivalent effect on importation into ECOWAS Member States.
“The Benin Republic regulation, which imposes the payment of a sum of N9 million on importation and N6.5million on exportation, through the country to Nigeria and other countries, is a negation of the ETLS as a result of the huge disparity in their dealings with other countries.
“Also, the action of the country to collect a fee of ₦1,250,000 for a 24 ft trailer and ₦1.7m for 40 ft trailer on third-party importation through the country to Nigeria is wrong.
“This is contrary to the ₦400,000 to Niger Republic on the same category of importation. The act is unfriendly to business relationship between both countries,” he said.