The continuous rise in import duty is hurting the importation of cargo into the country, with importers and clearing agents lamenting the high cost of shipment into Nigeria and clearing consignment at the ports across the country.

Nigerian importers are troubled by escalating duty costs, following the country’s floating of its foreign exchange rate. They said import duty has surged by over 200 per cent compared to previous rates, significantly impacting the cost of imported goods. They lamented that the development disproportionately affects Nigerian importers, as the country primarily relies on import…

Importers and clearing agents in Nigeria have expressed dismay about the escalating import duties resulting from the current foreign exchange rate in the country.