Non-oil export
Revenue may drop in Q2, Q3 as Apapa gridlock stifles operations
Local non-oil exporters may have started feeling the heat of the trade war between global economic leaders. Although projections from international trade bodies showed that average tariffs on exports from Nigeria and Zambia might not go beyond 10 per cent under the ordeal, the affected businesses are already decrying slow demand and delayed payments from China.
The trade dispute between the United States and China, according to exporters, is already upsetting the latter, leading to a weakened currency and further imposition of capital controls on foreign exchange payment, to avoid the depletion of China’s dollar reserves. Continued losses suffered by non-oil exporters from products rejection may…
Read More…..Guardian Newspapers
