Prices of imported vehicle to go higher as FG raises clearance cost
A new policy announcing an increase in cargo clearance cost is expected to shoot up prices of imported vehicles in the country. The Central Bank of Nigeria (CBN) has increased clearance cost from N952/$ to N1.356 per dollar. The price, a few weeks ago, was only N783/$ to N952/$.
Remilekun Sikiru, a freight forwarded stated the impact on vehicle prices.
“How do we explain this? From N952/$ to N1.356/$ as of Friday morning with about N404 increase? It’s quite unfortunate that the prices of goods and commodities will automatically increase. Importation would further decrease and depreciate, vehicle prices would skyrocket again,” he said in an interview, originally published by the Punch.
He added: “Since this unification of a thing, the government has refused to look inward and critically into the maritime industry as regards importation and exportation. The sector have been neglected and things are getting worse daily.
“The question now is, how would freight forwarders and customs brokers agents cope with this new rate?” he asked rhetorically.
