On the official trade portal of the Nigeria Customs Service, it was noted that the duty rate has been reviewed downward from N1630.159/$ to N1, 544.081/$.
This represents a 5.3 percent reduction when compared to the old rate of N1630.159/$ used as of Friday, March 2, 2024.
It is also speculated that this would reduce the economic impact of paying a high tariff on goods brought into the country.
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