News
‘Importers May Shun Our Ports’, Obi Urges FG To End Customs FX Rates Inconsistency
![](https://naijablitznews.com/wp-content/uploads/2024/02/Peter-Obi.jpg)
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,”
News
Finally, IGP approves hunger protests across Nigeria
![](https://naijablitznews.com/wp-content/uploads/2024/02/Kayode-Egbetokun1.jpg)
The Nigerian police has finally approved the planned nationwide protests and outlined conditions for participants.
The Inspector General of Police, Kayode Egbetokun, revealed this on Friday while addressing journalists in Abuja.
He urged all groups planning to participate in the proposed nationwide protest to submit their details to the Commissioners of Police in their respective states.
The police boss said this was to ensure the protest was peaceful.
Egbetokun said, “We acknowledge the constitutional right of Nigerian citizens to peaceful assembly and protest.
“However, in the interest of public safety and order, we urge all groups planning to protest to provide necessary details to the Commissioner of Police in the state where the protest is intended to take place.
“To facilitate a successful and incident-free protest, they should please provide the following information: state the proposed protest routes and assembly points; expected duration of the protest; and names and contact details of protest leaders and organisers.”
The police boss said the information expected from the organisers also include measures to prevent hijacking by criminal elements, as well as key identifiers for possible isolation of potential troublemakers.
By providing the information, he said, the police will be able to deploy adequate personnel and resources to ensure public safety.
He said the police needed to know the specific routes and areas for the protest to avoid conflicts with other events or activities.
Mr Egbetokun said the police will “establish clear communication channels with protest leaders to address any concerns or issues that may arise; minimise the risk of violence, property damage, or other criminal activity.
“We encourage all protesters to cooperate with the police, obey the law, and adhere to global best practices for peaceful assembly to guarantee a safe and successful exercise of their rights.
News
Reps North-West Caucus Beg Youths, Citizens In The Region Not To Join Planned Protest
![](https://naijablitznews.com/wp-content/uploads/2024/07/20240726_155935-scaled.jpg)
News
Reps Applaud FCT Minister, Wike On AICL Improved Revenue, Infrastructure
![](https://naijablitznews.com/wp-content/uploads/2024/07/IMG-20240726-WA0005.jpg)
-
News23 hours ago
Iwuanyanwu was a Heavyweight in all ramifications-Abaribe
-
News22 hours ago
Tinubu, Southern Govs Mourn Iwuanyanwu
-
News22 hours ago
Sokoto Governor, Aliyu’s Wife Holds Lavish Birthday As Guests Spray Dollar Notes On Her Amid Hunger, Hardship
-
News22 hours ago
Protest: President Tinubu In Closed-door Meeting With Traditional Rulers (Video)
-
News23 hours ago
Tinubu’s Presidency Is Failing Nigerians – Afenifere
-
News18 hours ago
Nationwide protest: ‘Airport Is Filled Up, Govs, Senators, Reps, Ministers Traveling Abroad’ — Fayose
-
News23 hours ago
IGP Orders DPOs, Their Men To Storm Vulcanizer Shops Ahead Of Planned Nationwide Protest
-
News22 hours ago
Court fixes date to hear suit challenging Shaibu’s reinstatement