The Abuja Chamber of Commerce and Industry (ACCI), has restated the need to urgently resolve the Apapa Port gridlock as it is affecting smooth business operations across the country.
Prince Adetokunbo Kayode, ACCI President said this at a roundtable on “Apapa Port Operational Challenges’’ organised by ACCI Policy Advocacy Centre (PAC) in Abuja on Monday.
Kayode said that the crisis was hurting business having increased the cost of doing business nationwide.
He expressed concern that Nigeria was also losing port patronage to neighbouring nations.
The ACCI boss said that the cost of doing business in the port has risen by 400 per cent, while port users lose N1.5 billion in charges and levies daily.
“The cost of container transport within Lagos has risen from N40, 000 to N400, 000, while container transport outside Lagos has risen from N60, 000 to N600, 000. Daily overtime container storage charge is now N30, 000.
“Container deposit of between N500, 000 to N1.2 million is becoming non-refundable due to container delay penalty.
“The country has recorded over 300 percent increase in prices of consumer goods while losing port patronage to neighbouring nations.
Port congestion contributes to smuggling crisis at the border.
“Multinationals are thinking seriously of moving operations out of Nigeria,’’ the trade expert said.
The ACCI boss also expressed worry over the developments which he argued were happening at a time of sluggish Gross Domestic Product (GDP) growth in the country.
He lamented that Nigeria recorded the lowest GDP growth in West Africa at 2.3 per cent, while expressing optimism that economic growth could be fast-tracked if cost of doing business at all levels of the economy was reduced.
Kayode said that the roundtable which had the support of the Federal Government was not a mere talk shop, but rather an opportunity to deliberate on best practices to improve port operations as well as the economy.
“The presidency is seeking private sector’s thinking and solutions to the problems at hand. The outcome of these proceedings will receive urgent attention of the government,” Hee said.
Meanwhile a trade expert, Dr Olumuyiwa Alaba, in a paper presented at the meeting said that Apapa business corridor had lost huge and competitive industrial presence with the exit of major multinationals. Alaba spoke on the topic: “Efficient Port Operation and Port Traffic Management: Finding Sustainable Solution to Apapa Traffic Gridlock”.