Barely 24 hours after President Bola Tinubu assured citizens of addressing their concerns, the exchange rate for the Nigeria Customs Service (NCS) duties collection for imported goods at the seaports increased to N1,618/$1.
Protesters had demanded that the government restore import duties to their previous rates to revive local industries and ease the financial strain on consumers, however, the import duty rate rose from N1,601.86/$1 to its highest level yet.
In his broadcast addressing the nationwide protests, Tinubu stated that he had heard the citizens’ plight loud and clear, and assured them of the government’s commitment to listening and addressing their concerns.
Despite this, the current duty exchange rate represents an increase of N16.872, amounting to a 1.053 per cent rise, according to the latest figure from the Customs trade portal yesterday.
The Comptroller General of Customs,…
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