Freight Forwarders Warn of Naira Depreciation Impact on Import Volumes and Rising Storage Charges

A group of freight forwarders, known as Patriots Anti-Corruption Initiative (T-PACI), has raised concerns about the current pressure on foreign exchange supply and the sharp depreciation of the Naira, predicting that it will soon lead to a decline in Nigeria’s import volumes.

National President of T-PACI, Stephen Chigozie, conveyed these worries during a press conference in Lagos. He explained that this situation could force many importers out of international trade, and he urged the Federal Government, through the Nigerian Shippers’ Council (NSC), to address the issue.

Chigozie also highlighted that the rise in storage charges would drive up the cost of imported goods, making them unaffordable for Nigerians. He emphasized that any attempts by terminal operators to further increase storage charges should not be accepted.

The group voiced their opposition to the sudden increase in storage charges at ports, describing it as fraudulent and a corrupt practice by terminal operators. They called for transparent consultations with stakeholders before implementing such increments and emphasized the importance of adhering to the law and due process to prevent corruption within the port. Additionally, they pointed out that some duties paid at the port were not in line with the rules set by international organizations like the World Customs Organisation and the World Trade Organisation, which could lead to inflation in the country.

Previous post Minister Emphasizes Urgent Need for Infrastructure Development in Maritime Sector
Next post FG mulls plan to import €1.2m equipment for Eko Bridge rehabilitation

Leave a Reply

Your email address will not be published. Required fields are marked *