ROSATOM DISCUSSING NUCLEAR PROJECTS WITH NIGER & ETHIOPIA. (PHOTO).

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 Rosatom Discussing Nuclear Projects With Niger & Ethiopia "Rosatom is open to discussing possible forms of cooperation and is prepared to offer modern, reliable, and safe technologies," the Russian state corporation stated, Sputnik reported. Cooperation between the parties is currently focused on establishing working mechanisms and defining project parameters, with decisions being taken gradually in line with the host country’s priorities and international safety standards, Rosatom said. Rosatom is in dialogue with more than 20 African countries on such areas as the construction of large and small nuclear power plants, nuclear science and technology centers, and the development of uranium deposits.
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FG RAISES EXCHANGE RATE FOR CARGO CLEARANCE TO N1, 356/$.(PHOTO).

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 FG raises exchange rate for cargo clearance to N1,356/$


The Federal Government through the Central Bank of Nigeria has raised the exchange rate for cargo clearance from N952/$ to N1.356 per dollar.

This is coming weeks after the rate was increased from N783/$ to N952/$.

In November, the exchange rate for cargo clearance was raised from N757 per dollar to N783 per dollar, representing a 3.4 per cent increase, and was later raised from N783/$ to N952/$ in December.

However, our correspondent observed on Friday that the new rate has been reflected on the portal of the Nigeria Customs Service.

Reacting to this, a member of the Association of Nigerian Licensed Customs Agents, Remilekun Sikiru, in a chat with The PUNCH on Friday, said, “How do we explain this? From N952/$ to N1.356/$ as of Friday morning with about N404 increase? It’s quite unfortunate that the prices of goods and commodities will automatically increase. Importation would further decrease and depreciate, vehicle prices would skyrocket again.

“Since this unification of a thing, the government has refused to look inward and critically into the maritime industry as regards importation and exportation. The sector have been neglected and things are getting worse daily. The question now is, how would freight forwarders and customs brokers agents cope with this new rate?”

Also speaking, an agent, Ben Anya, said that they woke up to the new rate, “which was before now set at N951 per dollar,”

Anya explained that with the latest increase in the exchange rate, the cost of clearing would increase.

“And this would also affect the cost of goods in the market. It would also lead to a drop in importation,” he said.

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