Licensed Customs Agents in Nigeria Seek Alternative Businesses Amid Rising Clearing Costs

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Licensed customs agents in Nigeria are facing challenges due to the high cost of clearing goods, prompting some to explore alternative businesses to sustain their livelihoods. Factors such as exchange rate fluctuations and a long list of prohibited items for import contribute to the difficulties faced by customs agents. Many have switched to alternative professions, such as commercial motorcycling (okada riding), to cope with the impact of a floating exchange rate. Some licensed agents are exploring ship chandelling, exportation, trucking consultancy, and car delivery services as alternative sources of income.

Key Points:

  • High clearing costs, exchange rate fluctuations, and prohibited items contribute to challenges faced by licensed customs agents in Nigeria.
  • Many agents have switched to alternative professions, including commercial motorcycling, due to the impact of a floating exchange rate.
  • Ship chandelling, exportation, trucking consultancy, and car delivery services are identified as alternative businesses for licensed customs agents.
  • The Central Bank of Nigeria’s policies and exchange rate stability during the tenure of Godwin Emefiele are compared to the current challenges faced by the maritime sector.
  • Some agents emphasize the need to encourage local production and export, addressing over-taxation and focusing on areas with a comparative advantage.
  • Licensed agents can leverage their experience to transition into ship chandelling, trucking consultancy, or assist in car purchases.
  • Alternative businesses provide income for displaced licensed customs agents and contribute to revenue generation in other sectors.

Source: Punch

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