How Customs FX Rates and Port Delays Are Raising Importers’ Working-Capital Costs

Nigeria’s import-dependent businesses are facing a combined pressure from customs valuation, port operations and high financing costs. The Nigeria Customs Service applies official foreign-exchange rates transmitted by the Central Bank of Nigeria, so changes in the customs rate affect the naira value of imports but do not automatically amount to a tariff increase. Port activity expanded in the first half of 2026, with cargo throughput rising to 68.2 million metric tonnes and container traffic increasing by 10.3%. However, average vessel turnaround rose from five days to 5.3 days. Higher volumes are positive, but slower processing can add storage, demurrage, inventory and financing costs for manufacturers and distributors. Businesses should track each shipment from customs processing to factory receipt, then measure landed cost per usable unit, inventory days and cash-conversion time. Faster clearance can reduce the capital tied up in imported inputs, but companies must also manage inland transport, production delays and slow customer payments.

Use The App To Win ₦1m

Stories are shared by community members. This article does not represent the official view of NaijaWorld — the author is solely responsible for its content.