News
‘Importers May Shun Our Ports’, Obi Urges FG To End Customs FX Rates Inconsistency
By Emmanuel Agaji
The 2023 presidential candidate of the Labour Party, Peter Obi, has urged the Federal Government to end the inconsistency in duty charges by the Nigeria Customs Service.
In a post on X (formerly Twitter) on Wednesday morning, Obi said the inconsistency in duty charges is affecting the general business atmosphere in the country.
He warned that if this situation is not corrected, importers in the country may resort to using ports of nearby countries, a situation which he noted will leave the Nigerian ports under-productive, and further deepen the economy into a worse situation as a result of loss of revenue.
Obi said, “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 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, 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 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. Such arbitrary charges will obviously lead to further closure of businesses, and attendant job losses.
“This is because at the time of the initiation of the business, calculations, including duties, have been made based on the prevailing exchange rate, and the prevailing market prices.
“If this situation is not corrected, our importers may resort to using ports of nearby countries, a situation that will leave our ports under-productive, and further deepen our economy into a worse situation as a result of loss of revenue,” the post partly read.
The former Anambra State Governor also advised the government to show consistency in its policies as this will help with economic forecasting and business planning.
He said that businesses are dying, and manufacturers are shutting down because of the poor and inconsistent economic policies of the government.
“All efforts of the government should be directed at supporting businesses, especially those in the manufacturing sector, to keep their businesses afloat and keep the economy growing, as the small business sector remains the most critical engine of economic growth.
“We cannot afford to target high customs revenues at the expense of the survival of local businesses, employment and reasonable cost of living,”
Midnight fire on Saturday destroyed more than 10 shops at the Terminus Market in Jos, Plateau State.
Witnesses said that the incident occurred around 10:00 p.m., after traders had closed for the day.
The latest incident comes three months after a section of the market was gutted by a similar night fire.
Our correspondent, who visited the market on Sunday morning, reports that more than 10 shops were affected, with clothes and shoes burnt to ashes.
The cause of the fire could not be immediately confirmed by market authorities, though some victims suggested it might have been caused by an electrical fault.
Firefighters and emergency responders were said to have acted swiftly to contain the blaze, preventing what many feared could have escalated into a major disaster.
A witness, Mr. Silas Lawrenzo, said that firefighters, including a team from the National Emergency Management Agency, worked alongside the Plateau State Emergency Management Agency, Federal Fire Service, and the Plateau State Fire Service to bring the fire under control.
He said the coordinated and rapid response helped contain the flames, limiting damage and preventing the fire from spreading across the busy commercial hub.
The media reports that the market has experienced three separate fire incidents in the past year, destroying goods worth millions of naira.
The Inspector General of Police,Olatunji Rilwan Disu, has hailed the professionalism of Nigerian journalists and corrected a misconception about their roles in society cautioning that they should not be treated like beggars, instead accorded the full compliments of professionals deserving of respect
The IGP who commended Federal capital Territory journalists and sought stronger police- media partnership when he spoke as a special guest at the FCT NUJ council congress Saturday, said he has always had a mutually beneficial relationship with the media, recognising their professionalism that is deserving of respect and therefore they should never be treated as beggars
The calm and ever- smiling police chief said, “I have always had a respectful and mutually beneficial relationship with journalists. They are professionals who deserve respect and should never be treated as beggars,”
Disu commended them for their role in informing the public and contributing to national development, describing his relationship with the media as one built on mutual respect and professionalism.
He emphasised that journalists should be regarded as respected professionals rather than beggars, noting that the media plays a critical role in society, while calling for stronger collaboration between the police and the media, stressing that a healthy partnership would enhance public trust and improve security communication.
The police chief further urged both police officers and journalists to conduct themselves responsibly at all times, noting that good conduct leaves lasting impressions in society.
Responding, Chairman of the NUJ FCT Council, Comrade Grace Ike, congratulated the new IGP on his appointment and described him as a longstanding friend of the press.
She expressed confidence in his leadership and assured him of the council’s readiness to collaborate with the police in reporting security matters objectively
Ike also revealed that the IGP would be invited as a special guest to the council’s 2026 Press Week celebration.
She reaffirmed the commitment of the NUJ FCT Council to promoting responsible journalism and supporting initiatives aimed at strengthening security and governance in the territory.
The Managing Director of the Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho, was today honoured with the *Outstanding Agency of the Year Award 2025* by Champions Newspaper at its 2025 Awards ceremony held in Lagos.
The Managing Director, who was represented by the General Manager, Corporate Affairs, *Mr. Ikechukwu Onyemekara*, described the award as recognition of his vigorous leadership in implementing smart initiatives that align with the NPA’s vision to become the *Maritime Logistics Hub for Sustainable Port Services in Africa*.
Mr. Ikechukwu Onyemekara, the Authority’s Spokesman, highlighted the invaluable support of the *Minister of Marine and Blue Economy, His Excellency Dr. Adegboyega Oyetola*, which has been instrumental in achieving these remarkable successes. Key highlights include:
– Sustained port efficiencies contributing to Nigeria’s year-on-year trade surplus of ₦7.5 trillion and ₦6.7 trillion in Q2 and Q3 2025 (per NBS and NESG reports), driven mainly by exports via NPA platforms.
– Successful execution of President Bola Ahmed Tinubu’s policy for crude and petroleum product sales in Naira, saving billions in FOREX, enhancing energy security, improving trade balance, and creating jobs.
– Completion of Nigeria’s membership in the International Port Community System Association (IPCSA), paving the way for the National Single Window (NSW) project.
– Technical guidance enabling a significant rise in transhipment cargo at Lekki Deep Seaport, serving landlocked neighbours and recovering cargo lost to competing ports.
– Pioneering election of a Nigerian agency as President of the Port Management Association of West & Central Africa (PMAWCA) since 1972, with Dr. Dantsoho also leading PAPC, boosting Nigeria’s diplomatic standing and securing re-admission to IMO Category C.
These successes position NPA to deliver major 2025 projects, including the $1 billion reconstruction of Tincan Island Port Complex, rehabilitation of key ports, new deep seaport developments, and eco-friendly operations.
Champions Newspaper conferred the award in appreciation of NPA’s pivotal role as a leading trade facilitation platform driving national economic prosperity through Nigeria’s maritime endowments.
Midnight fire engulfs Jos main market destroying ten shops
Journalists are professionals deserving Respect- IGP Disu
NPA wins Champions Newspaper’s “Outstanding Agency of the Year Award 2025”
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