As part of efforts to continue to sustain its Nigerian operation, DHL Nigeria has increased charges for its services by 100 per cent over the recent foreign exchange crisis in the country.
DHL disclosed the development in an email message sent to partners which was exclusively obtained by THE WHISTLER.
The company blamed its decision on the continued and rapid devaluation of the naira against the dollar.
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DHL said the foreign exchange crisis has impacted international transport costs which are typically incurred in dollars.
“As a network business, we face the constant pressure of balancing currency exchange rates and we make the necessary budgetary decisions to counteract these effects where possible. Unfortunately, the situation in Nigeria has continued to surpass our budgeted levels.
“In order to ensure operational continuity and to keep connecting the world with a high-quality service, DHL will levy a Currency Surcharge to all Time Definite International (TDI) shipments. The surcharge percentage will be 100 per cent, effective March 1, 2024, and is applicable to transportation charges.
“In addition, Time Definite Domestic shipments will get a price increase of 100 per cent, effective March 1, 2024.”
DHL said the currency surcharge will fluctuate on the first day of each month, depending on the percentage by which the naira has devalued against the US dollar when compared to the base exchange rate.
It added, “Exchange rates shall be determined by DHL Express in its sole discretion with reference to the exchange rates published by the Nigerian Autonomous Foreign Exchange Market (NAFEM).
“DHL Express shall be the sole arbiter of whether and the extent to which a devaluation has occurred and whether (and at what percentage) a currency surcharge should be implemented.”