Cost of clearing new cars in nigeria

The cost of clearing new cars in Nigeria can vary depending on several factors such as the type of vehicle, its value, and the clearing agent or customs broker used. However, here are some general estimates of the costs involved in clearing new cars in Nigeria:

  1. Customs Duty: This is the most significant cost component in clearing new cars in Nigeria. The duty rate varies between 20% to 35% of the vehicle's value, depending on the type of vehicle and its country of origin.
  2. Value Added Tax (VAT): This is a 5% tax levied on the total value of the vehicle, including the customs duty.
  3. Port Handling Charge: This is a fee charged by the port authority for handling the vehicle. The cost varies between N10,000 to N50,000, depending on the port and the type of vehicle.
  4. Customs Examination Fee: This is a fee charged by the customs authority for examining the vehicle. The cost varies between N10,000 to N50,000, depending on the type of vehicle and the customs authority.
  5. Insurance Premium: This is a mandatory insurance premium paid to the Nigerian Customs Service (NCS) to cover the vehicle against theft, damage, or loss during the clearing process. The cost varies between N10,000 to N50,000, depending on the value of the vehicle.
  6. Customs Brokerage Fee: This is a fee paid to the clearing agent or customs broker for their services in clearing the vehicle. The cost varies between 2% to 5% of the vehicle's value, depending on the clearing agent and the type of vehicle.
  7. Other Charges: There may be other charges such as storage fees, demurrage fees, and miscellaneous fees, which can add up to N50,000 to N100,000, depending on the port and the type of vehicle.

Based on these estimates, the total cost of clearing a new car in Nigeria can range from N1.5 million to N3.5 million, depending on the type of vehicle and its value. Here are some examples of the costs involved in clearing different types of vehicles:

It's important to note that these estimates are subject to change and may vary depending on the specific circumstances of the vehicle and the clearing process.