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Home » Stakeholders Predict Low Cargo Throughput, Job Loss In Maritime Industry As Recession Lingers

Stakeholders Predict Low Cargo Throughput, Job Loss In Maritime Industry As Recession Lingers

by Joshua
December 7, 2020
in Maritime Education

Stakeholders in the nation’s maritime industry have lamented the impact of recession in the industry, even in the midst of a prolonged closure of land borders.

Nigeria’s economy slipped into recession for the second time in four years as oil prices also plunged, owing largely to the Covid-19 pandemic.

 The National Bureau of Statistics (NBS) reported that, the country's gross domestic product (GDP) contracted by 3.62 per cent year-on-year in real terms in the third quarter of 2020, attributing the contraction to slow oil production and the Covid-19 pandemic.

Lamenting the impact of the recession in the nation’s maritime industry, the National Secretary of the National Council of Managing Directors of Licensed Customs Agents (NCMDLCA), Mr. Festus Ukwu said the freight forwarding subsector has been at the receiving end of the economic woes, while also lamenting the appalling rate of foreign exchange.

Ukwu predicted that the country will witness low cargo throughput and a very difficult freight forwarding industry, adding that there will be huge job loss in the nation’s maritime industry as a result of the recession.

According to him, “It's obvious that the freight forwarding subsector will always receive the heat anytime there is a change in government policies. This present situation will not be different, especially bearing in mind the current rate of the foreign exchange regime. We expect to witness low cargo throughput and a very difficult period for the freight forwarding industry. Generally, prices of goods and services will go high and many will lose their jobs. Finally, it's going to be hard for Nigerians”, he said.

Speaking also, a clearing agent; Dennis Ogboru lamented that freight forwarders are already feeling the impact of the recession, he added that cargo throughput has dropped tremendously since Nigeria slipped into recession, he also blamed the closure of the land borders for the economic situation in the country.

“Already, cargo throughput has dropped, there is no cargo to clear, normally by now we use to have increase in the number of cargoes that come into the country, because we are already approaching the festive period, but rather than increasing, it is reducing; clearing agents are lamenting and I think the closure of the land borders has also in one way affected the economy, so government should reconsider reopening of the borders”, he said.

On his part, the chairman of Shippers’ Association of Lagos State (SALS) Rev. Jonathan Nicol also decried the negative impact of the recession in the maritime industry, Nicol in a telephone chat with our correspondent, said the maritime industry has been at the receiving end of the recession, he said there is need to revive the maritime industry before things get out of hand.

“Things are not moving well, the recession started from the maritime sector; export are not moving and import are not coming in, the roads are bad, the cost of goods have gone up, situation of things have gone up, but unfortunately it is the downtrodden that suffer it the most”, he said.

 

 

 


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