Apparently unsure whether the earlier instruction has been carried out, the finance minister and the coordinating minister of the economy, Dr. Ngozi Okonjo-Iweala directed that the nation’s sea ports should commence round-the-clock operations.
Apparently unsure whether the earlier instruction has been carried out, the finance minister and the coordinating minister of the economy, Dr. Ngozi Okonjo-Iweala directed that the nation’s sea ports should commence round-the-clock operations.
The minister who led a Nigerian delegation to the Spring meeting to just concluded meeting of the IMF/World Bank in Washington, USA stressed that operating 24 hours was necessary so as to reduce the number of days it takes for goods to be cleared from Nigerian ports and also make our ports to be more competitive.
Flanked by the Central Bank of Nigeria (CBN) Governor, Mallam Sanusi Lamido Sanusi; the Governor of Anambra State, Peter Obi and Dr. Mansur Murthar, Executive Director,World Bank, the minster told some Nigerian journalists at the meeting that Nigerian ports are the only ones that still operate between 9am and 5pm.
The practice, she lamented, is causing Nigeria a huge revenue loss as goods meant for Nigeria were being routed into the country through ports of neighbouring countries that are more efficient in the management of their ports.
According to her, “we are the only port working from 9.am to 5 p.m. in the world. Other ports operate 24 hours and that is why their ports are cheap because importers do not have to pay for demurrage. Apart from reducing the number of agencies in the port, which we have done, we also need to remove the bureaucratic requirements.
She also stressed that 60 per cent of goods shipped into West African countries are meant for Nigeria, even as she affirmed it was cheaper to ship goods to Ghana than Nigeria.
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