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FG lift ban on 41 iterms - Interviews - ECHOnigeria

ECHOnigeria Forum / Interviews / FG lift ban on 41 iterms (1 Post | 678 Views)

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FG lift ban on 41 iterms by Omegachild(f) : 7:02 pm On December 16, 2016

The National Association of Government Approved
Freight Forwarders (NAGAFF) on Friday lauded the
Federal Government’s plans to lift foreign exchange
restriction on 41 imported items.
Mr Stanley Ezenga, the National Publicity Secretary
of the association, gave the commendation in an
interview with newsmen in Lagos.
The Federal Government had indicated its readiness
to lift the forex ban it placed on some 41 items in
Finance Minister Kemi Adeosun, had in the 2017
Fiscal Policy Roadmap, said Federal Government
“will replace administrative measures on list of 41
items with fiscal measures to reduce demand
pressure in the parallel market.
Ezenga said that the plan would boost importation
activities at the nation’s ports.
He said that lifting of ban on the items would not
solve the declining value of the naira, urging
government to come up with a more result-oriented
forex policy.
“The plan by the government to lift foreign exchange
restriction on some 41 imported items is good
news for import.
“We can now have more import activities at the
ports and the various jobs lost to the restriction can
now come back.
“However, the unbanning alone will not solve the
problem of the naira.
“Government should come with a more workable
policy to boost value of the naira,“ Ezenga said.
He said that freight forwarders had lost 50 per cent
jobs to the restriction, hoping that the lifting would
address the situation.

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