Naira Devaluation Impacting Positively On Exports-Customs Controller
The customs area controller, Seme Command, Timi Bomodi, said on Sunday that the devalued naira had positively impacted the exportation of Nigeria’s local products to neighbouring countries in West Africa.In an interview in Seme, near Badagry, Mr Bomodi said that imports and exports are usually affected by market forces, including demand and supply.
“We are talking about the exchange rate of naira vis a vis its impact on exports. As the value of the naira begins to decline, you find that Nigerian-made goods are considered cheap within the region.
“This encourages people from neighbouring countries to purchase goods from Nigeria, but while we complain that the exchange rate has a negative impact on imports, it also has a positive impact on exports.
“Yes, we couldn’t buy goods becau...
