Connect with us

Headlines

New Customs duty exchange rate oppressive, anti-people, will further impoverish Nigerians— maritime Editors lament

CBN Governor, Olayemi Cardoso
The Eyewitness Reporter
The League of Maritime Editors (LOME) at the weekend has described the new customs duty exchange rate as oppressive and inimical to the common interests of the Nigerian masses meant to further compound their economic woes.
Speaking against the backdrop of the recent increase of the rate to N1,413.62 per dollar, the media practitioners believed the policy is counterproductive if the government is desirous of addressing the economic challenges currently faced by Nigerians.
In a statement issued by the President of the group, Chief Timothy Okorocha and the Secretary, Mr. Felix Kumuyi, the League described the rate as outrageous given the obvious consequences on the national economy.
“Coupled with the current petroleum price hike under the deregulation policy and its consequences on the cost of transportation, the League believes that the current customs duty exchange rate will further worsen the living conditions of Nigerians as importers and manufacturers will be forced to increase prices of their goods”
The media group noted that Nigerians are currently facing hard times as a result of the increasingly high prices of goods and services in the market.
“There is hardly any day that prices of all types of food and other goods in the market do not go up. So, the new rate to be implemented by the Customs in calculating duties will worsen the situation”, the statement said.
The League, while noting that the Customs management is simply implementing the directive handed to it by the federal government, advised the management of the Service to draw the ears of the Finance Ministry and the Central Bank of Nigeria to the consequences if the policy is sustained.
The statement added, “Economic policies are introduced for the good of the people and not to worsen their living conditions and expose them to extreme poverty.
“Every policy must have a human face. This current policy is certainly against the common interest of the people because it will further send them to early graves because it will further worsen the price explosions being experienced in different markets all over the country”.
The group pointed out that such a high rate of duties will further discourage imports, a development that will lead to a high scarcity of essential goods in the market and consequences on the prices.
 “The new rate will stifle trade rather than promote trade.  Cargo throughput will further go down. It will hit everyone, including manufacturers who will be forced to raise high prices as they are doing now.
“The few that manage to bring in goods will have no choice but to raise their prices to such that only very few people will be able to afford to buy these goods.
“What it means is that the policy will only favour the rich who can pay for anything and leave many Nigerians to their own fate. We believe that this is not what the present administration of President Ahmed Bola Tinubu stands for.
“So we feel that the government should take another look at the rate. The Customs Service should take up this matter with the Ministry of Finance and CBN.
” Every policy must promote the economic wellness of the people and not send them to their early graves.
” If you insist on implementing the new rate, some importers will have no choice but to pay, but remember that it is actually Nigerians that will suffer at the end because the importers will ensure they recover their investments” the statement concluded.
Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Headlines

May Day: Mobereola salutes maritime workers for passion, dedication to building virile industry 

Gloria Odion,  Maritime reporter 

The Director – General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dayo Mobereola, has saluted the courage , passion and dedication of maritime workers to building strong and virile industry.
In his message at the Workers’ day on May 1st, 2026, the NIMASA DG extolled the virtues of workers and acknowledged the distinguished service of various stakeholders whose efforts he noted continue to significantly contribute to the development of the Nigerian maritime industry.
Dr. Mobereola, while wishing stakeholders a Happy Workers’ Day said “to all the amazing officers and stakeholders in the maritime sector who bring their passion and expertise to work daily.

“Thank you for your dedication and invaluable contributions”.

He emphasized that as a regulator, the Agency remains committed to its oversight function of regulating maritime labour activities in the industry in line with extant instruments and the expectations of the theme of the 2026 Workers’ Day, which focuses on safety, dignity and productivity.

Continue Reading

Customs

Kaila, Seme Customs CAC, seeks collaboration with stakeholders to achieve seemless trade along border corridor 

Funso OLOJO, Editor
The new Area Controller of the Seme Command of the Nigeria Customs Service, Comptroller Abdullahi Kaila, has  reached out to traditional rulers and  sister agencies at the border communities to ensure the achievement of his mandate of detection, determent of smuggling, revenue generation and trade facilitation along the border corridor.
To achieve these objectives, Comptroller Kaila went on tour of the communities within the border corridor where he met and sought for the support and cooperation of major critical stakeholders, including the traditional rulers and sister agencies.
According to him, his objective was to eradicate trade hindrances affecting free movement of goods and services along the Lagos-Abidjan business corridor.
Speaking at the Palace of Oba Akran of Badagry Kingdom, the Customs Area Controller condoled with the royal family and entire people of Badagry kingdom on the passing away of HRM De Wheno Aholu Menu Toyi I who was a well recognized traditional ruler across the border communities.
“”The purpose of my visit is to introduce myself as the Area Controller of Seme Command and to equally seek your royal blessing and support to achieve the core mandate of the service.
“Our priority remains to generate revenue, facilitate trade, and suppress smuggling.
“And we in the Customs believe that without due support and co-operation from traditional rulers, we can not have effective performance of our functions as Customs officers” he said
 The King Regent, Chief Abel Ogunbiyi, who described Kaila as the son of the soil, added that “We have listened to your request.
” Know that Badagry is a very peaceful town, and we will keep collaborating with you in safeguarding our borders and in promoting legitimate trade, ” he stated.
Comptroller Kaila also visited the Onibereko of Ibereko Awori-Kingdom, where the monarch, Oba Israel Okoya, signifies his commitment to fostering the service relationship with residents living within the border  communities
“I welcome you to Badagry and be rest assured that I will always talk to my people whenever the need is required.
” In our town, our youth does not engage in illegalities as I have no other choice than to assist you in achieving the government mandate, ” he mentioned
While at the Palace of Alapa of Apa Kingdom, the king HRM Oba Oyekan Ajose Ilufemiloye commended and described the CAC, Comptroller Kaila as a professional, seasoned and well respected officer as described by indigenes of border communities.
“I promise you that I will always assist you in my area for anything that you need.
“Our border here has been peaceful because our youth always listen to the elders, and I know with your presence here, things will change for the better, ” he said
In his efforts to consolidate on existing synergy between sister security agencies, Kaila also visited Headquarters of 653 Nigerian Air force base, Ahanve-Badagry.
The  Commanding Officer, Group Captain Hungruy  Medugu,expressed the  readiness of the formation to always support the command in achieving its mandate.
“Our collaboration has been key to various successes we have recorded in our area of responsibility.
” Your presence here strengthens existing bonds of inter-agency collaboration between both Services, and we will not take it for granted ,” he said
The Area Controller then ended his familirisation tour with seeking for mutual cooperation with a visit to the Republic of Benin Police office, showing his readiness to eradicate hindrances affecting the free movement of goods and services across the border.
Continue Reading

Headlines

Opeifa decries encroachment on NRC properties across the country 

— praises collaboration with Abia, Enugu govts.
Funso OLOJO, Editor 
The Managing Director of the Nigerian Railway Corporation (NRC), Dr. Kayode Opeifa, has reiterated his displeasure over the widespread practice of encroachment on the properties of the Nigerian Railways Corporation across the country, warning that such action would not be tolerated by his administration.
Opeifa was speaking during the separate meetings he recently had with the governments of both Abia and Enugu states.
Represented by the Railway District Manager, Eastern District, Mr. Agwonye Francis Ejike, the NRC boss quickly condemned the occupation of the Corporation’s right- of – way by squatters in Umuahia, while correcting the wrongly- held belief that the Railway is defunct.
Opeifa however applauded the cordial and collaborative relationship between the Corporation and the governments of both Abia and Enugu.
According to him, such productive harmony can only yield even greater positive results for the benefit of the people.
During the Umuahia meeting, Dr. Opeifa strongly praised the Abia State Government for its crucial assistance in clearing the NRC’s right-of-way within Umuahia.
 He reiterated unequivocally that no one is permitted to build any structure on railway property without obtaining express approval from his office.
Appealing directly to the public, he urged for greater patience, stressing that the plans for the critical track extension from Aba, through Umuahia to Enugu and beyond, remain very much on course.
Responding on behalf of the Abia State Government, Mr. Kingsley Agomoh stated that the State Government is actively engaging all stakeholders by providing alternative, seamless locations for those currently conducting business on the railway right-of-way.
 He further revealed that the state government has already finalized plans to plant trees along the route, creating a leisurely and aesthetically conducive environment for relaxation, replacing previous commercial activities.
The high-powered team then embarked on an extensive inspection of the alternative relocation site for displaced persons; the demolition site where iron barrier installation is progressing; the Umuahia Central Bus Terminal; the site for the new Umuahia Railway Station; and the route for the proposed link road passing through the existing railway station.
The meeting also explored the provision of a temporary location for the Railway Police and the PTO, pending the construction of the new Umuahia Station, which is designed to include a police station and other NRC offices.
The same impactful message was delivered to Enugu State, where the Commissioner of Transportation, Dr. Obi Ozoh (representing the State Government), equally assured the NRC MD of the Enugu State Government’s unwavering commitment to collaborating with the Corporation to achieve its aims and objectives.
Describing Dr. Opeifa as a personal friend from their private sector days, Dr. Ozoh lauded him as a leader who “knows perfectly well what he is doing.”
He further assured the NRC that the Enugu State Government will actively assist in demolishing any obstruction on the Corporation’s right-of-way, stressing that the state eagerly awaits the flag-off to recommence construction of the rail line from Aba to Enugu and beyond.
Continue Reading

Trending