LCCI Advocates for Fixed Import Duty Exchange Rate Below Market Rate.

The Lagos Chamber of Commerce & Industry has reiterated its call for a fixed import duty exchange rate below market rate, recommending it be maintained for at least six months to support businesses. The LCCI advocates this measure to aid businesses in managing foreign exchange risks.

The Lagos Chamber of Commerce & Industry has reaffirmed its advocacy for a fixed import duty exchange rate that is below the market rate, urging policymakers to establish and maintain such a rate for at least six months to provide businesses with much-needed stability. This measure would help alleviate the risks associated with fluctuations in foreign exchange rates on imports. By adopting a fixed exchange rate policy, businesses can better plan and invest in their operations, thereby fostering economic growth and development. The LCCI's call comes as part of its ongoing efforts to promote business-friendly policies and policies that support entrepreneurship and investment in Nigeria.