The Association of Nigeria Licensed Customs Agents (ANLCA) has issued an ultimatum, threatening to shut down the nation’s seaports within 30 days if the persistent exchange rate fluctuations for Customs duty remain unresolved.
ANLCA President; Emenike Nwokeoji, conveyed the association’s stance during a press briefing in Lagos on Thursday, emphasizing their readiness to collaborate with labor unions like the Nigerian Labour Congress (NLC) and the Maritime Workers Union of Nigeria (MWUN) to ensure the success of the proposed strike action.
Nwokeoji was however optimistic, citing ongoing engagements with the Central Bank of Nigeria (CBN) and the Ministry of Finance to address the crisis.
“We will explore partnerships with organized private sector groups such as the Manufacturers Association of Nigeria (MAN), Nigeria Employers’ Consultative Association (NECA), among others, importers, and shippers to tackle the Customs duty issue collectively,” Nwokeoji stated.
Highlighting the economic implications, Nwokeoji stressed the devastating effects of exchange rate distortions on Nigeria’s import-dependent economy, particularly concerning Customs duty computations. He underscored the need for a stable exchange rate regime to prevent confusion and economic turmoil.
Also speaking, Alhaji Taiwo Mustapha, Chairman of the Board of Trustees (BoT) of ANLCA, echoed concerns about the fluctuating Customs duty rates, warning of inflationary pressures if the situation persists. Mustapha emphasized the adverse impact on traders and consumers due to increased costs and inflated product prices in Nigerian markets.
Addressing the ongoing engagements, Mustapha mentioned discussions between ANLCA and Customs management, where the latter outlined efforts with the Ministry of Finance and Ministry of Trade to address the issue.
