‘High Forex Rate Hinders Importation Of Goods’


Terminal operators in Nigeria Port Authority, NPA, Area 1,Port Harcourt have identified the rise in foreign exchange rate, as a factor hindering importation of goods and services in the ports.
The operators also decried the near moribund activities in the  Port Harcourt ports, following the economic recession faced by the country.
Chairman, National Association of Government Approved Freight Forwarders (NAGAFF) NPA, Area 1, Ngozi Uzohuo disclosed this to The Tide during an interview on the state of the economic activities in the ports.
Uzohuo insisted that the high rate of foreign exchange in the country has forced most importers to abandon importing business, even as the rate of dollars continues to rise on a daily basis.
The Chairman, who doubles as the Chief Executive Officer CEO, Dolphine Glors Nigeria Limited, appealed to the federal government, Central Bank of Nigeria, CBN to ensure that the high exchange rate is reduced to the barest minimum to enable importers to bounce back to their business.
The CEO Dolphine Glors Nigeria decried that the high rate of exchange is making things difficult for licensed importers to do business and feed their families
He noted that the reduction in the rate of foreign exchange would make business activities to boom and improve living.
Describing NPA, Area 1, Port Harcourt as a premier port in the country, Uzohuo lauded the stakeholders and all the terminal operators in the ports for working assiduously towards improving business activities in the ports.
He also appealed to the ports authority and other terminal operators to ensure that all road networks in the ports are repaired to enable trucks convey goods in and out from the ports to their destinations.