Nigeria's Naira Devaluation Pushes Up Vehicles Duties by 40% 

The Central Bank of Nigeria and the Nigeria Customs Service have taken the ongoing foreign exchange reforms to the maritime sector with a 40 per cent increase in the exchange rate used for calculating import duty. <br />Stakeholders say the policy would lead to job losses in the maritime sector and a drastic fall in the number of imported vehicles. <br />They said this could affect business and economic growth. Economists also said the government was insensitive, saying the policy was capable of affecting Nigerians negatively. <br />The National Public Relations Officer, NCS, Abdullahi Maiwada, says the agency was only implementing a CBN policy.<br /><br />This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at <a href="https://www.spreaker.com/show/4166630/advertisement">https://www.spreaker.com/show/4166630/advertisement</a>