The Nigeria Customs Service has again adjusted the dollar exchange rate for tariffs on cargoes imported into the country from N282 to N313 to the US Dollar.
The adjustment took effect from August 1.
When put side by side with the old rate, the new rate is an increase of 11 per cent.
The new increase makes it the second in one month.
The first was implemented on July 1.
Before the increase to N282, the NCS was using the Central Bank of Nigeria rate of N197 to the US Dollar.
That increase translated to 43 per cent hike.
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