Nigeria imports decline in Q1 2024 amid incessant duties hike

The Nigeria Customs Service recorded a 5 per cent decline by posting 311,492 in the volume of Single Goods Declarations for imports in the first quarter of 2024 amid increased duties. NCS disclosed this in its Q1 2024 report released on Wednesday. The figure showed a 15,999 decline from the 327,492 recorded in Q1 2023. The service blamed fluctuating import duties for the drop in SGDs. Comptroller General of Customs, Adewale Adeniyi, said the country issued about 28 import rates …