Peter Obi Urges FG to End Customs’ Inconsistent Exchange Rate for Cargo Clearance at Ports

The former governor of Anambra State and the presidential candidate of the Labour Party in the 2023 general elections, Peter Obi, has called on the federal government to end the inconsistency in duty charges as it is affecting the general atmosphere in the country.

The Nigeria Customs Service (NCS) and Central Bank of Nigeria (CBN) have been adjusting the foreign exchange rate used to calculate customs duty on imported goods frequently.

This has led to an increase in import duties, causing concern among the business community and importers.

Peter Obi took to X (formerly Twitter) to express his concern about the issue.

He stated that high Customs revenues at the expense of the survival of local businesses, employment, and reasonable cost of living, are detrimental to the nation’s economy.

According to Obi, the federal government should stop the arbitrary and ever-increasing Customs duties as it is now negatively impacting businesses and the cost of items in the local market.

He warned that if this situation is not corrected, importers may resort to using ports of nearby countries, which would leave Nigerian ports under-productive and further deepen the economic crisis.

Peter Obi’s call for the federal government to address the issue of the inconsistent exchange rate for cargo clearance at ports is a step in the right direction.

The government must ensure that its policies do not negatively impact businesses and the economy as a whole.