Congestion at the ports is beginning to gather momentum as importers have abandoned their cargoes following the continuous slide of the Naira against the American dollar which currently stands at N250 to $1.
Besides, there has also been a steady increase in number of abandoned containers particularly at the Tin Can Island port.
Stakeholders confirmed to Vanguard that the worsening exchange rate situation has prompted the Tin Can Island Customs Command to increase its official transaction rate from N165 to all-time high N199 to a dollar.
Confirming the development, the Customs Area Controller in charge of the Tin Can Island Customs, Mr. Zakari Jibrin said recently that the Auto Policy of the Federal Government and the upcoming 2015 election has caused importers to abandon their cargoes at the port.
Oriegwu
ReplyDeletehmmm they should vote for me to bring down the dollar.but this thing gwt as eby.
ReplyDelete