The import duties have surged by over 200 per cent, significantly impacting the cost of imported goods. This disproportionately affects importers, as Nigerians primarily rely on imports for various goods and commodities.
“The economic realities faced by importers in Nigeria today are directly impacting their ability to source and supply affordable goods to meet the needs of the Nigerian population. “It is important to highlight that importers play a crucial role in spurring economic growth, job creation, and ensuring a vibrant consumer market. However, the escalating import duty rates threaten the continuity of import-driven businesses, which will inevitably have a ripple effect throughout the economy,” he stated.
“Importers in Nigeria remain committed to providing the Nigerian population with affordable and quality goods. However, we foresee that unless action is taken promptly to address the grievances caused by the surging import duties, the burden will be shouldered by the average Nigerian consumers,” he said.
The acting Comptroller-General of Nigeria Customs Service, Bashir Adewale Adeniyi, has commended the World Customs Organisation Technology Conference and Exhibition for exposing participants to advanced technological solutions required to address complex customs challenges. Despite the recent increase in prices of electricity-prepaid meters, the Abuja Electricity Distribution Company has said customers, who made payment under the Meter Asset Providers scheme will not be affected.
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