Maritime Workers to FG: Tackle Forex Crisis to Boost Importation   As the country marks its 64th anniversary today (Tuesday), maritime operators have urged the Federal Government to tackle the issue of fluctuating exchange rates to boost importation. The operators who spoke in Lagos on Monday, however,...

The Federal Government will be suspending import duties on rice, flour, wheat, and other essential food items in an effort to reduce the high costs of food amidst widespread hunger in Nigeria. 

Nigeria’s Spending on Jet Fuel Importation Drops by 87% to N31bn - NBS   Nigeria’s spending on kerosene type jet fuel importation fell quarter-on-quarter (QoQ) by 87 percent to N31 billion in the first quarter of 2024 (Q1’24) from N239.18 billion in Q4’23. Meanwhile, according to a...

Petrol: FX Scarcity Stalls Fresh Importation   The hope of fresh petrol importation into the country may have been dashed, as findings revealed that oil marketers, who have been licensed to import fuel, are currently having difficulties accessing forex (FX). Sources close to the matter said that...

Ban On Importation Of Rice Boosting Local Production — Customs   The Nigeria Customs Service (NCS) says the ban on the importation of rice into the country is encouraging local production and the establishment of more local rice mills, especially in the north. The Acting Controller of...

CBN Seeks To Slash Importation Bill By 35%       The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, yesterday said efforts are ongoing to reduce the country’s import bill by about 35 per cent. He said President Muhammadu Buhari’s insistence about five years ago...