Information available to Techeconomy shows that importers will pay more import duty for the clearance of their cargoes at the nation’s seaports.
Our correspondent gathered that the Federal Government through the Central Bank of Nigeria, has raised the exchange rate for cargo clearance from N783/$ to N952/$.
This became the fourth time the exchange rate for cargo clearance was raised this year.
The increment recorded was as a result of the floating of naira that allowed market forces determine the exchange rate of its currency.
This is coming barely three weeks after the rate was increased from N757/$ to N783/$, representing a 3.4 per cent increase.
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The Public Relations Officer of the Association of Registered Freight Forwarders of Nigeria, Taiwo Fatomilola, lamented that the duty on 40ft container increased from N7m on Wednesday to N9m on Thursday.
“There is also a N350,000 increase on the duty on each car,” Fatomilola said.
A chieftain of the Shippers Association of Lagos State, Jonathan Nicol, said that the development would affect businesses for shippers.
He also said that the move would definitely lead to an increase in the cost of doing business and induce inflation.
Nicol said, “More cargo will be diverted to other climes and the nation’s ports will not be as busy as it should have been.
“I also know that the government is aware of the inflationary pressure on the citizens. Increase of cost of clearing at this time is ill-timed during Christmas festive period. The government targeted the Christmas rush period to make more money through customs duty, while goods cleared will be difficult to sell.”
A chieftain of the Association of Nigerian Licensed Customs Agents, Onome Monije, said,
“What it implies in simple terms is that, if clearing agents have a Debit Note that has not been paid on the system, it will affect it,”
Also speaking, a licensed agent and the Chief Executive Officer, of LWL Concept, Lawal Wasiu, said “From all indications they are just trying to discourage importation. And this will create a lot of issues and affect access to Nigerian market especially pharmaceutical products.’”
You see, you can’t give what you Don’t have…… Up till now, some Nigerians are still coming expecting BAT to perform his magic abi?
Someone that never attended to any Public debate, no single public interview and you guys did not see red flags…
No wahala….
What are the Legislative arm of government doing?…. Oh, they are busy making money and doing lavish birthdays…..
We shall see the end of these shenanigans and Renewed shege…
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