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Naira depreciation’ll affect volume of imports — Stakeholders

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A Nigerian newspaper and Online version of the Vanguard, a daily publication in Nigeria covering Nigeria news, Niger delta, general national news, politics, business, energy, sports, entertainment, fashion,lifestyle human interest stories, etc

A group of freight forwarders known as Patriots Anti-Corruption Initiative, T-PACI, has indicated that current pressures on foreign exchange supply and the consequent sharp depreciation of the Naira will soon crash the volume of Nigeria’s imports.

The T-PACI boss noted that the increase in storage charges will further drive up the cost of imported goods, driving the cost of such goods beyond the reach of Nigerians. “We are strongly against the sudden surge in increase of storage charges in the port and we describe this act as fraudulent and a corrupt practice being perpetuated by the terminal operators.

 

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