According to the President, Shippers Association, Lagos State, Mr Jonathan Nicol, who made this known on Friday, August 5, he decried that President Muhammadu Buhari’s authorisation of the floating of the exchange rate by the Central Bank of Nigeria, CBN, had adversely affected the sector, and its resultant effect is capable of shedding 3 million jobs in the maritime sector.
Post-Nigeria further gathered, that the development which has already generated massive fear in the maritime sector, is capable of crippling import and export of goods and services.
Nicol, speaking further, added that the recent increase in exchange rate of N313 to the dollar, is not only unprofessional, but conveys the ignorance of port administrators, including the Apex bank.
The Implication according to Nicol, is that shippers would be paying more for duty cost, adding that consumer goods would also go up.
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