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duties are calculated at different rates, say N1400 to $1, it becomes a serious business challenge that results in business losses. Worse still, it directly fuels the inflationary spike which is the basis of increasing cost of goods and living.
for example, N1000 to $1, being the prevailing exchange rate at the time which the importer of goods was used to calculate the entire process, from the import initiation to receipt of goods in his warehouse. Then suddenly when the goods arrive in Nigeria, and
it is now negatively impacting businesses and the cost of items, and this portends a huge danger to the economy. A situation where at the point of initiating importation, Form M and other documents related to importation are based on a particular rate of exchange,
I wish to urgently call on the Federal Government of Nigeria to end the inconsistency in duty charges as it is affecting the general business atmosphere in the country. The federal government should stop the arbitrary and ever-increasing customs duties as
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