Importers abandon N1b containers, vehicles at port

Over 120 containers and 96 vehicles worth over N1 billion have been abandoned at Tin-Can Island Port and other bonded terminals in Lagos, following the importers’ inability to clear them, it emerged last weekend.
Source said the importers are finding it difficult to get loans to fund their business. The devaluation of the naira is also said to be affecting their operations.

A source said the Nigeria Shippers’ Council (NSC) is not making things easy for the importers by not getting terminal operators and shipping firms to reduce their charges.

The Vice Chairman, Association, Nigeria Licensed Customs Agents (ANLCA), Tin Can Chapter, Mrs Ada Akpunonu, said importers abandoned their goods for two main reasons:

• the ports are the most expensive in West Africa; and

• the unstable exchange rate.

Banks, she said, have stopped lending to importers because of the fall of the naira and the increase in the prices of goods.

“There is no doubt that activities at the ports have reduced because of the exchange rate.. The terminal operators and the shipping companies are also not helping matters. Our port is the most expensive in the sub-region. Most importers are not making profit and that is why they have decided to abandon their goods at the ports.