Congestion
at the ports is beginning to gather momentum as importers have
abandoned their cargoes following the continuous slide of the Naira
against the American dollar which currently stands at N250 to $1.
Besides, there has also been a steady increase in number of abandoned containers particularly at the Tin Can Island port.
Stakeholders
confirmed to Vanguard that the worsening exchange rate situation has
prompted the Tin Can Island Customs Command to increase its official
transaction rate from N165 to all-time high N199 to a dollar.
Confirming
the development, the Customs Area Controller in charge of the Tin Can
Island Customs, Mr. Zakari Jibrin said recently that the Auto Policy of
the Federal Government and the upcoming 2015 election has caused
importers to abandon their cargoes at the port.
In an
interview, Vice Chairman of the Tin Can Chapter of the Association of
Nigeria Licensed Customs Agents (ANLCA) Mrs Ada Akpunonu said that the
instability in the exchange rate has caused importers to stay away from
importation and that imported cargoes have been abandoned at the port.
According to her, commercial banks have equally stopped lending money to potential businessmen.
Speaking
on the imminent port congestion, Akpunonu said, “many goods are trapped
at the port, there is bound to be congestion, most of the importers
borrowed money from the banks, before they collect their Bill of Lading
they must make the payment, but what is happening now is that, with the
exchange rate, they are finding it difficult to get the balance and pay
back in order to collect the papers and clear their goods”
“Many
importers with Bill of Lading are finding it difficult to pay duties.
There is no cargo that does not go into demurrage in Nigeria and
shipping companies start collecting money immediately the cargo lands at
the port” she said.
Akpononu confirmed that customs is currently implementing an official transaction rate of N199 to US$1 for transactions.
Credit: Godwin Oritse/Vanguard
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