Maritime
The federal government has stated that hydrographic information is crucial in ensuring national maritime safety and supporting Nigeria's economic growth.
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.
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.
The Nigerian government has secured about $600 million in investment from the world's largest shipping company, A.P. Maersk to enhance port infrastructure
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.
The National Single Window Project was launched by President Bola Tinubu on Tuesday, April 16, to streamline import and export processes at the ports.
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.
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
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.
Maritime
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