Less than two weeks after the Nigeria Customs Service (NCS) adjusted the exchange rate for cargo clearing at the port, the Service has again raised the rate to N770.88/$ from N422.3/$, according to the information obtained from Customs’ official website.
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With the adjustment in the exchange rate, importers bringing goods through the nation’s seaports will now be paying more for import duty tariffs following the addition of N181.43 to any one dollar of the total value used in calculating duty.
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Below is the current Customs Exchange Rate
| Currency Code | Currency Name | Rate |
|---|---|---|
| USD | United States Dollar | 770.88 |
| AED | United Arab Emirates Dirham | 209.866 |
| AUD | Australian Dollar | 401.356 |
| BRL | Brazil Real | 159.834 |
| CAD | Canada Dollar | 442.231 |
| CFA | CFA Franc – BCEAO | 1.256 |
| CHF | Switzerland Franc | 861.511 |
| CNY | China Yuan Renminbi | 106.279 |
| CVE | Cape verde Escudo | 4.228 |
| CZK | Czech Republic Koruna | 17.229 |
| DKK | Denmark Krone | 112.915 |
| EGP | Egypt Pound | 19.045 |
| ETB | Ethiopian Birr | 13.911 |
| EUR | Euro member countries | 840.875 |
| FCF | BCEAO | 0.711 |
| GBP | Sierra Leone Leone | 980.02 |
| GHS | Ghana Cedi | 68.745 |
| GMD | Gambia Dalasi | 7.95 |
| GNF | Guinea Franc | 0.045 |
| HKD | Hong Kong Dollar | 53.8 |
| HUF | Hungary Forint | 1.25 |
| IDR | Indonesia Rupiah | 0.028 |
| ILS | Israel Shekel | 164.706 |
| NR | India Rupee | 9.391 |
| JPY | Japanese Yen | 5.333 |
| KES | Kenyan Shilling | 3.51 |
| KRW | South Korean Won | 0.314 |
| LRD | Liberian Dollar | 2.838 |
| 2.838 | Morocco Dirham | 39.945 |
| MUR | Mauritius Rupee | 9.447 |
| MXN | Mexican Peso | 20.919 |
| MYR | Malaysian Ringgit | 94.327 |
| NGN | Nigeria Naira | 1 |
| NOK | Norwegian krone | 42.559 |
| PHP | Philippine Peso | 7.519 |
| PKR | Pakistan Rupee | 1.914 |
| PLN | Poland Zloty | 100.667 |
| RUB | Russia Rouble | 6.949 |
| SAR | Saudi Arabia Riyal | 205.381 |
| SDG | Sudan Pound | 6.895 |
| SEK | Swedish Krona | 45.103 |
| SGD | Singapore Dollar | 302.442 |
| SLL | Sierra leone Leone | 0.037 |
| THB | Thailand Baht | 12.324 |
| TND | Tunisian Dinar | 249.354 |
| TRY | Turkish Lira | 29.566 |
| TWD | New Taiwan Dollar | 14.768 |
| WAU | WEST AFRICAN UNITS ACCOUNTS | 1004.998 |
| XAF | Communaute Financiere Africaine CFA | 0.711 |
| XDR | International Monetary Fund (IMF) | 550.764 |
| XOF | Communaute Financiere Africaine BCE | 0.711 |
| ZAR | South Africa Rand | 40.744 |
| ZMK | Zambia Kwacha | 24.499 |
What is the new customs duty in Nigeria in 2023?
Newly Increased Import Duty Rate in Nigeria From 39.54% to 39.62 – New CUSTOM Rates of Vehicles. The Nigeria Customs Service (NCS) in June 2023 confirmed the increase of import duty on vehicles from 39.54% to 39.62. The Nigerian Customs Service is the authority in charge of clearing imported vehicles at Nigerian ports.1 Jul 2023
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