By Ogaga Ariemu
The Presidential Committee on Fiscal Policy and Tax Reforms says it has appealed to the Federal Government to adopt an exchange rate of N800 per dollar for customs import duty.
Taiwo Oyedele, chairman of the committee, spoke on Thursday while engaging journalists on the activities of the tax panel in Lagos.
The development comes amid continued fluctuations in exchange rate calculations for imports amid the foreign exchange crisis.
On Wednesday, the exchange rate for calculating import duty dropped to N1,327.54 per dollar from N1,382.392.
The customs import duty rate is set by the Central Bank of Nigeria in line with the official rate of the Naira against the dollar at the foreign exchange market.
Recall that the Director of the Centre for the Promotion of Private Enterprise, Muda Yusuf, has appealed to the Federal Government to peg the customs import rate at N1,000 per dollar to tackle the volatility of forex fluctuation.
