The Presidential Committee on Fiscal Policy and Tax Reforms has recommended that the Federal Government adopt an exchange rate of ₦800 to a dollar, for the purpose of customs import duty.

Chairman of the committee, Taiwo Oyedele, disclosed this in Lagos on Thursday 30 May 2024 while interacting with journalists on the activities of the committee.

The comes in the face of continuous fluctuations in exchange rate calculations for imports, engendered by Nigeria’s extant forex crisis.

The customs import duty rate is set by the Central Bank of Nigeria in concordance with the official rate of the Naira to the dollar at the foreign exchange market.

As at Wednesday 29 May 2024, the exchange rate for import duty calculations improved from ₦1,382.392 to ₦1,327.54 per dollar.


SOURCE
https://naijaphilia.com/blog/2024/05/30/tax-presidential-panel-recommends-%e2%82%a6800-fx-rate-for-customs-clearing/

Are you a dumping ground olodo ...if you say for say equipment that would help fast track electricity supply that's understandable. Don't seat in your office and be speaking theory ...this economy need minimum 18 to 20 hrs electricity to function ... Every other thing is artificial.. You should be encouraging export not import ...A country that export more than it import is a stronger economy.

Babangidapikin:
Are you a dumping ground olodo ...if you say for say equipment that would help fast track electricity supply that's understandable. Don't seat in your office and be speaking theory ...this economy need minimum 18 to 20 hrs electricity to function ... Every other thing is artificial.. You should be encouraging export not import ...A country that export more than it import is a stronger economy.

They are just very dull.