CBN POLICIES/ INFLATION: IMPORTERS AND EXPORTERS OPERATING IN THE MARITIME INDUSTRY LAMENT ON STRINGENT POLICIES 07-06-24
By Sadiq Aminu Importers and Exporters operating in the nation’s Maritime industry, have continued to lament the harsh effects of the Central Bank of Nigeria’s stringent policies which has led to increased costs and inflation.
The Industry Stakeholders in desperate chats with Radio Nigeria, lamented that the policies have led to hardship for business operators as an average Nigerian businessman operating at the Ports is daily affected by the stringent policies.
A Freight Forwarder, Mr Anayo Mbah lamented that the policies have not been favourable, especially to those in the informal sector. He said the cost of clearing goods has continued to rise and the recent sixty percent increment in tariff, has made it even more challenging for them, pleading that the CBN should reassess its strategy to combat inflation.
An Importer, Chief Dan Egbochuo emphasized that inflation was a direct result of government policies, noting that when the cost of bringing in the items goes up, it reflects in the open market and it is an average Nigerian who suffers the consequences of the policies.
Another Port Operator, Mr Emmanuel Edem however acknowledged the challenges faced by the present administration but emphasized the need for effective solutions on how to bring down the costs of living, transport, power supply, fuel prices and other essential goods.
A cross section of Ports Users interviewed on the issue, lament the fact that the current Customs exchange rate, has made it extremely difficult for businesses to operate.
The constant increments have led to desperation among young Nigerians, thus pushing many to commit crimes.
The government must ensure that the dollar rate comes down to where it was before. The constant increments have finished the business Operators and they say, they can’t continue like that, continuing in this way , would only lead to more sufferings for the masses.