Manufacturers, importers stranded over N6.5m duty on transit goods
• Stalemate enters 46 days over border closure • Shortage of raw materials might worsen, consumers to pay more amid inflation Still reeling from the effects of Nigeria’s border closure on its economy, the government of the Republic of Benin has imposed new import duty of CFA9 million (N6.5 million) per transit truck on Nigeria-bound cargoes transiting through the country, which are exempted from all forms of duty under the Economic Community of West African States (ECOWAS) protocols on transit goods. With the situation yet to be resolved 46 days after, Nigerian manufacturers have suffer...
Source: guardian.ng