{"id":121418,"date":"2024-06-12T23:21:36","date_gmt":"2024-06-12T22:21:36","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/how-depreciation-of-naira-impacts-positively-on-exports-customs-controller"},"modified":"2024-06-13T01:35:23","modified_gmt":"2024-06-13T00:35:23","slug":"how-depreciation-of-naira-impacts-positively-on-exports-customs-controller","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/policy\/how-depreciation-of-naira-impacts-positively-on-exports-customs-controller","title":{"rendered":"How depreciation of naira impacts positively on exports \u2013 Customs Controller"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Nigeria. <\/strong><\/span>The Customs Area Controller, Seme Command, Timi Bomodi, on Sunday, said the depreciation of Naira has positively impacted on exportation of Nigeria\u2019s local products to neighbouring countries in West Africa.<\/p>\n<p>Bomodi, who spoke in an interview with NAN in Seme, near Badagry on Sunday, explained that the depreciation of the Naira was an opportunity for some people from other countries to buy goods from Nigeria.<\/p>\n<p>According to the controller, imports and exports are usually affected by market forces \u201cand by this, we mean both the demand and supply\u201d.<\/p>\n<p>He said the exchange rate plays a significant role in determining the demand or the purchasing power of the people.<\/p>\n<p>\u201cWe are talking about the exchange rate of the Naira vis a vis its impact on exports. Now as the value of Naira begins to decline, you find out that Nigerian-made goods are considered cheap within the region.<\/p>\n<p>\u201cThis encourages people from neighbouring countries to want to purchase goods from Nigeria but while we complain that the exchange rate hurts imports, it has a positive impact on exports.<\/p>\n<p>\u201cYes, we couldn\u2019t buy goods because the dollar was high but people saw a cheap Naira as an opportunity to get goods from Nigeria.<\/p>\n<p>\u201cFor the first time, you have a net export gain for Nigeria vis a vis her neighbouring countries, because you find out that what makes Nigerians go to their neighbours is now making them come to Nigeria,\u201d he said.<\/p>\n<p><strong>For More News And Analysis About Nigeria Follow Africa-Press<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Nigeria. The Customs Area Controller, Seme Command, Timi Bomodi, on Sunday, said the depreciation of Naira has positively impacted on exportation of Nigeria\u2019s local products to neighbouring countries in West Africa. Bomodi, who spoke in an interview with NAN in Seme, near Badagry on Sunday, explained that the depreciation of the Naira was [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":121416,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,14],"tags":[3960,1623,254],"class_list":["post-121418","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-custom","tag-naira","tag-nigeria"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>How depreciation of naira impacts positively on exports \u2013 Customs Controller - Nigeria<\/title>\n<meta name=\"description\" content=\"The Customs Area Controller, Seme Command, Timi Bomodi, on Sunday, said the depreciation of Naira has positively impacte ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/policy\/how-depreciation-of-naira-impacts-positively-on-exports-customs-controller\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How depreciation of naira impacts positively on exports \u2013 Customs Controller\" \/>\n<meta property=\"og:description\" content=\"The Customs Area Controller, Seme Command, Timi Bomodi, on Sunday, said the depreciation of Naira has positively impacte ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/policy\/how-depreciation-of-naira-impacts-positively-on-exports-customs-controller\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-12T22:21:36+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-13T00:35:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/06\/sm_1718222322.41076.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"397\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/how-depreciation-of-naira-impacts-positively-on-exports-customs-controller#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/how-depreciation-of-naira-impacts-positively-on-exports-customs-controller\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"How depreciation of naira impacts positively on exports \u2013 Customs Controller\",\"datePublished\":\"2024-06-12T22:21:36+00:00\",\"dateModified\":\"2024-06-13T00:35:23+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/how-depreciation-of-naira-impacts-positively-on-exports-customs-controller\"},\"wordCount\":263,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/how-depreciation-of-naira-impacts-positively-on-exports-customs-controller#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/06\/sm_1718222322.41076.jpg\",\"keywords\":[\"custom\",\"naira\",\"Nigeria\"],\"articleSection\":[\"all news\",\"Policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/policy\/how-depreciation-of-naira-impacts-positively-on-exports-customs-controller#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/how-depreciation-of-naira-impacts-positively-on-exports-customs-controller\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/how-depreciation-of-naira-impacts-positively-on-exports-customs-controller\",\"name\":\"How depreciation of naira impacts positively on exports \u2013 Customs Controller - 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