How to calculate Total Cost of Clearing vehicles at the Tincan Island Port via RORO

Example of how to calculate the Import Duty of your vehicle, let’s say Toyota Corolla 2004.

SOLUTION:
The CIF Value of a used Toyota Corolla 2004 is usually around $1,886 (Kindly take the amount you purchased your vehicle as your CIF Value for that vehicle) Also note that CIF Value is usually in US Dollar, so if the cost of your vehicle at the country you are buying from is not in USD, please convert it to USD at https://www.xe.com/

The exchange rate the Nigerian Custom Service (NCS) uses at the moment is N405. The Rate of Duty for Vehicles is currently 35% of CIF Value.
So let’s convert the CIF Value to Naira, $1886 X 405 = N763,830
Let’s get the 35% of N763,830. Which is N763,830 X 0.35 = N267,340.5

Now N267,340.5 is your Import duty which is called the surface value. This surface value is negotiable, you can negotiate this with the custom officers to reach a minimal acceptable value and the lower you bid the price, the higher settlement you pay to the NCS Officer, but the NCS Officer will not accept it when you bid below the least acceptable value, so basically at this point you can decide what you want to pay but it must not go below the minimal acceptable value, once an agreement is reached, the NCS Officer will proceed to issue you valuation.

After the surface value is sorted out, an agreement is reached and valuation issued, the next is to add VAT and others to the value given, now to get the total amount u are to pay to NCS account including VAT, Surcharge & ETLS, we have to multiply our surface value with a constant value of 1.38. That will give us N267,340.5 X 1.38 = N368,929.89 This is your total import duty.

Other Charges Includes: These are estimated values based on experiences from previous jobs.
Shipping company Fee, Terminal Charges, Release & Gate + all other miscellaneous payments made to custom officers, depending on the type of human being / officer your work is assigned to.

 Budget around N100,000 to N150,000 for vehicles between 2008 and older
 Budget above N150,000 to N250,000 for vehicles between 2009 and 2012
 Budget above N250,000 to N400,000 for vehicles between 2013 and newer

PLEASE NOTE THAT THIS DOES NOT INCLUDE DEMURRAGE SHOULD THE VEHICLE INCUR DEMURRAGE CHARGES.

Clearing Agent Fee is dependent on the shipping line and it’s opened to negotiations if the vehicles to clear are more than one. Grimaldi Line - N80,000 Sallaum Line - N100,000

Visit our office with photocopy of your Bill of Lading / Telex Release let’s start the process and clear your vehicle today. Call / WhatsApp me on 0 8 0 2 4 1 0 2 5 5 4

We'll strongly recommend u visit our office in person or send someone to come and see exactly how everything is being done here, once the car has been cleared and released from terminal, we hand it over to you.

TOYOTA CAMRY 2015
Cleared for N1.6m
Sallaum Line