Customs Reduces Exchange Rate For Import Duties Payment - Politics (3)

Customs Reduces Exchange Rate For Import Duties Payment - Politics (3) - Nairaland

Nairaland Forum › Nairaland General › Politics › Customs Reduces Exchange Rate For Import Duties Payment (25407 Views)

Re: Customs Reduces Exchange Rate For Import Duties Payment by PressMyButton: 8:02pm On Apr 19, 2024

ogaontop:
Illiterate theoretical economist, you're controlling importation with which substitutes?
Do you know how many that has died because they can no longer afford drugs I think you need to go start from your SS3 economics and stop sounding professional while you're misleading people!
CBN has repeatedly implemented what I wrote up there!!

Do you know how much dollars we spend on imports annually compared to the shortages in reserves?. If you want drugs, sit down your lazy ass and produce drugs locally. You don't bleed the economy because of importation, you are myopic sighted.

Re: Customs Reduces Exchange Rate For Import Duties Payment by ShootThemAll(m): 8:39pm On Apr 19, 2024

jkpbestseries:
Customs are still charging high... That is why things are still expensive

100% True! That's the main reason 9ja has a very high inflation rate.

1 Like

Re: Customs Reduces Exchange Rate For Import Duties Payment by ruffhandu: 8:53pm On Apr 19, 2024

Fraudulent government. You tell others not to mention dolar when doing business in Nigeria, but a government agency quotes their fees in dolar and gives you a rate to pay with. This country is simply a shithole.

Re: Customs Reduces Exchange Rate For Import Duties Payment by ruffhandu: 8:55pm On Apr 19, 2024

PressMyButton:
Do you know how much dollars we spend on imports annually compared to the shortages in reserves?. If you want drugs, sit down your lazy ass and produce drugs locally. You don't bleed the economy because of importation, you are myopic sighted.

It's simply "myopic" or you say "short-sighted".

Re: Customs Reduces Exchange Rate For Import Duties Payment by maasoap(m): 8:59pm On Apr 19, 2024

jmoore:
June last year, it was increased from 422 naira to a dollar to 589 naira to a dollar.

That is because CBN was defending naira

Re: Customs Reduces Exchange Rate For Import Duties Payment by jmoore(m): 9:04pm On Apr 19, 2024

maasoap:
That is because CBN was defending naira

They floated naira before that increase.

Re: Customs Reduces Exchange Rate For Import Duties Payment by maziuwa(m): 9:06pm On Apr 19, 2024

jkpbestseries:
Customs are still charging high... That is why things are still expensive

yes you are right am a clearing agent this people are killing us imagine 20ft 7m duty 40ft 14m it's very much expenses but we thank God Almighty we always have our own way to do it we must deliver within period of 7 days after ship arrived

Re: Customs Reduces Exchange Rate For Import Duties Payment by Mandate1: 9:52pm On Apr 19, 2024

commoditiesnig:
Good point! We need to do more export than import

export with wat? Whr is the power to produce? Whr is the cheap fuel or diesel to encourage production?

Re: Customs Reduces Exchange Rate For Import Duties Payment by 735i(m): 10:55pm On Apr 19, 2024*

PressMyButton:
Customs shouldn't generate revenue?, Is there any customs in the world that doesn't generate revenue from relevant custom duties?. Our border should be thrown wide open for all kinds of commodities coming in and going out?, stop clowning.

Apparently, you're one of the "not bright" ones. Setting revenue targets from import duties is counter intuitive.
If you hire a security guard to stop people from accessing your property, and you tell your security guard to "generate" a fixed amount monthly... what will he do?
Either allow people in for a fee, or set up a kisok and becomes negligent to his actual responsibility.

Just so you know, all sorts of commodities are coming into Nigeria... and the customs personnel are smiling to the bank... so YOU can keep being a 🤡

Re: Customs Reduces Exchange Rate For Import Duties Payment by Kingrshd3: 12:32am On Apr 20, 2024

jkpbestseries:
Customs are still charging high... That is why things are still expensive

God bless u and the essence of this is to distract people from importation and face local productions but yet people are still importing hence things will still cost due to high clearance rate 🤔

Re: Customs Reduces Exchange Rate For Import Duties Payment by Blessedarethepe(m): 2:15am On Apr 20, 2024

jkpbestseries:
Customs are still charging high... That is why things are still expensive

Exchange rate is different from customs duty. Duties are advolorem taxes you pay. And it varies depending on the item of import.

Re: Customs Reduces Exchange Rate For Import Duties Payment by Royals1st: 6:12am On Apr 20, 2024

commoditiesnig:
Good point! We need to do more export than import

Yes u are very correct! But please can you tell me how do we produce to export? No electricity , and petrol and diesel is on higher price any country that does not have steable electricity can never grow or produce for export

1 2 3 Reply

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