Maritime
N800/$1: Group speaks on adopting new exchange rate for customs import duty
For the purpose of computing customs import duty payments, the presidential committee on fiscal policy and tax adjustments recommended adopting a rate of N800/$1.
Nigerians to pay more for iPhone, cars as CBN increases Customs dollar rate to clear goods at ports
The Central Bank has cut the currency rate by 0.8%, which is used to calculate customs fees at the nation's seaports, as seen in the official trade portal.
Nigeria secures $600 million investment from world’s biggest shipping company
The Nigerian government has secured about $600 million in investment from the world's largest shipping company, A.P. Maersk to enhance port infrastructure
NPA secures $700m facility from Citibank to rehabilitate Apapa, Tin-Can Ports
The Nigerian Ports Authority has obtained $700 million to rehabilitate the Tin-Can Island, the Apapa ports in Lagos, and ports in the south east.
Good news as Tinubu launches window to clear goods at ports within 24 hours
The National Single Window Project was launched by President Bola Tinubu on Tuesday, April 16, to streamline import and export processes at the ports.
CBN slashes import duty rate after banning foreign currency collateral for naira loan
After the CBN recently banned the use of foreign currency for collateral, the customs exchange rate used to calculate import duty declined from N1,246 to N1,238.
From N952 to N1,314: CBN increased customs rate to clear goods 28 times in 2024
The Nigerian Customs Service is concerned about the modifications to customs import tax rates that have impacted the volume of transactions in Q1 of 2024
CBN readjusts Customs forex import duties as dollar crashes in all markets
The Central Bank of Nigeria (CBN) has made yet another change to Customs foreign exchange rates for cargo clearance at the Nigerian ports as naira recovers.
FG removes important penalty for imported vehicles as CBN slash customs FX rate
The Nigerian government has suspended the 25% penalty imposed on improperly imported vehicles in Nigeria to ease the current hardship faced by Nigerians.
Maritime
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