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Report has indicated that vehicle importation has crashed by 61 per cent just as operators have blamed foreign exchange (Forex) crisis for the development.
The report also indicated that there was an improvement in the average turnaround time for vessels from 5.1 days in 2023 to 4.6 days in 2024.
According to the chieftain of the Association of Nigerian Licensed Customs Agents, Mr Kayode Farinto, the fluctuating exchange rate is hampering vehicle importation.
He suggested that the government should peg the exchange rate for cargo clearance at N1000/$ and increase the age limit of legitimate vehicles allowed to be imported from 12 to 15 years to improve the situation.
The Chairman of the Ports & Terminal Multipurpose Chapter of the National Council of Managing Directors of Licensed Customs Agents, Mr. Abayomi Duyile, attributed the decline in vehicle imports to the high levies and duties imposed on imported vehicles.
