Suspension of export receipt: Nigerian exporters to lose $360m

Nigerian exporters are set to lose the sum of $360 million in the next two weeks as a result of the suspension of export receipts at the Lagos port. The management of the Nigerian Port Authority (NPA) on Monday March 22, 2021 announced the suspension of the receipt of goods bound for export out of the country for 14days. This means that between Monday, March 22, 2021 and Sunday April 4, 2021, any export transaction due for shipment within this period will not be allowed to enter the port. However, “this suspension does not affect export refrigerated cargo and trucks whose operators have secure…

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HEDGE accordingly