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Nigeria Loses 50% Cargoes To Cotonou Port - Business - Nairaland

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Nigeria Loses 50% Cargoes To Cotonou Port by Islie: 4:34pm On Jan 26, 2016
The Shippers` Association Lagos State on Tuesday said 50 per cent of cargoes meant for Nigerian ports were being diverted to Cotonou port as a result of the Central Bank `s forex restriction on some imported items.

The President of the association, Mr Jonathan Nicol made the disclosure while speaking in an interview with the News Agency of Nigeria (NAN) in Lagos.

He said that many Nigerian shippers had diverted their cargoes to the ports in the Republic of Benin since the policy started, adding that there were less restrictions on imports in the West African country.

Nicol said the development had deprived Nigeria a lot of revenue, urging the Federal Government to ease the policy to boost revenue.

“When the CBN forex restriction policy came into being, we appealed to the Federal Government to review the policy and remove some critical items because it is hurting our business and the country`s revenue.

“The reflection of that restriction is beginning to show up because we are having fewer cargoes in our ports.

“Rather than shippers bringing their cargoes to Lagos, they prefer Cotonou and they do their foreign transactions there because Benin Republic does not have such restrictions as we have.

“In fact our country have been depleting in cargoes to the extent that we have lost 50 per cent cargoes to the Republic of Benin, helping to make the Cotonou ports the largest in West Africa.

“The Federal Government should kindly remove some critical items from the list to boost shipping business in the country and attract revenue to the country“ he told NAN.

Nicol decried what he called the incursion of foreign shipping lines into the freight forwarding business in the country, saying the development was not good for the economy.

“If foreigners with better resources and expertise are allowed to intrude into the business, it might render no fewer than 100,000 Nigerian freight forwarders jobless.

“We do not understand why a foreigner will suddenly come from nowhere, claiming to be a Nigerian company and make incursion into the freight forwarding business.

“Many Nigerians are engaged in this area and we think we might lose about 100,000 jobs to this problem.

“The Federal Government has a Council for the Regulation of Freight Forwarding in Nigeria (CRFFN) and the mandate of the council is to train freight forwarders on the best standards.

“Since we have people who can do this job locally, I do not think we should tolerate foreigners.

“The government should ensure the business is reserved for our people to protect their jobs, “ the shipper said.

He also urged Nigerians who backed the foreigners dominating the local freight forwarding business to have a rethink.


http://thenationonlineng.net/forex-restriction-nigeria-loses-50-cargoes-to-cotonou-port/

1 Like 1 Share

Re: Nigeria Loses 50% Cargoes To Cotonou Port by Destined2win: 4:37pm On Jan 26, 2016
Honestly, it is really hard times for importers in Nigeria. The prices of commodities have sky-rocketed.

But be of good cheer for I shall lead this nation to peace and abundance when I become President.

So Help Me God!

10 Likes

Re: Nigeria Loses 50% Cargoes To Cotonou Port by OVI75(m): 5:03pm On Jan 26, 2016
Since APC take over,bad news everywhere,metuh here,dasuki dere.

45 Likes 5 Shares

Re: Nigeria Loses 50% Cargoes To Cotonou Port by lilprinze: 5:15pm On Jan 26, 2016
Ever since this dullard has been president nothing good happnes in this country again only bad and negative news.

48 Likes 4 Shares

Re: Nigeria Loses 50% Cargoes To Cotonou Port by Hemanwel(m): 5:15pm On Jan 26, 2016
A man woke up in the morning,deeply repentant after a bitter fight with his wife the previous night. He noticed with dismay the crate of beer bottles that had caused the fight.
He took it outside and started smashing the empty bottles one by one onto the wall:

He smashed the first bottle swearing,
"you are the reason I fight with my wife".

He smashed the second bottle,
"you are the reason I don't love my children".


He smashed the third bottle,
"you are the reason I don't have a decent job".

When he took the fourth bottle, he realized that the bottle was still sealed and was full.

He hesitated for only a moment and said,
"you stand aside; I knew you were not involved."

111 Likes 4 Shares

Re: Nigeria Loses 50% Cargoes To Cotonou Port by ellabooz(f): 5:17pm On Jan 26, 2016
Pray for Nigeria.

3 Likes

Re: Nigeria Loses 50% Cargoes To Cotonou Port by osahonmk(m): 5:18pm On Jan 26, 2016
Tough Times require Tough Decisions!!.... This year is gona be really tough for Nigeria. May God See us Through. Amen!!

4 Likes

Re: Nigeria Loses 50% Cargoes To Cotonou Port by sylviaeo(f): 5:18pm On Jan 26, 2016
Dats to b expected when u have a dullard for a President. APC = badluck. when cluelessness becomes indescribable then u know u are dealing with APC

38 Likes 2 Shares

Re: Nigeria Loses 50% Cargoes To Cotonou Port by gurunlocker: 5:18pm On Jan 26, 2016
bad bad news from government without policies and direction...... but we can blame and travel after 9 months

17 Likes

Re: Nigeria Loses 50% Cargoes To Cotonou Port by legendte(m): 5:18pm On Jan 26, 2016
change!!!

10 Likes

Re: Nigeria Loses 50% Cargoes To Cotonou Port by NextGovernor(m): 5:19pm On Jan 26, 2016
God please help us in this country. APC wanna frustrate and make us beggars but it won't work

16 Likes 1 Share

Re: Nigeria Loses 50% Cargoes To Cotonou Port by Sunbellar: 5:20pm On Jan 26, 2016
Buhari has succeeded in killing the economy!

20 Likes 2 Shares

Re: Nigeria Loses 50% Cargoes To Cotonou Port by Trut(m): 5:21pm On Jan 26, 2016
WHEN A COW IS A PRESIDENT OF ANY COUNTRY, NO GOOD NEWS WILL EVER COMES OUT FROM THAT COUNTRY undecided

36 Likes 2 Shares

Re: Nigeria Loses 50% Cargoes To Cotonou Port by surrogatesng: 5:23pm On Jan 26, 2016
Is APC the cause?

1 Like

Re: Nigeria Loses 50% Cargoes To Cotonou Port by Captain1Nigeria(m): 5:23pm On Jan 26, 2016
hmmm

1 Like 1 Share

Re: Nigeria Loses 50% Cargoes To Cotonou Port by clintwine(m): 5:24pm On Jan 26, 2016
It is not necessarily a bad development, its actually a good one and working
It means that Imports are almost halving, now we can look at increasing our exports and boosting our economy with locally made things
It is silly that we were importing toothpicks

we should be looking at 50% reduction in imports and 50% increase in exports
that way we would have a stronger economy and stop depleting the foreign reserves

now that we know the items are being diverted to Cotonou, the government should deploy more custom officers towards that border
and make sure that we get every revenue from legal items coming in from that end
every illegal item should be confiscated and sent to IDP camps and displaced people, then the rest auctioned to families with less than a certain household income

Change means that we have to adjust and make some scarifies for the betterment of our collective tomorrow, nobody said it will be easy
Let us start thinking of what we can export and sell,

Before someone says locally made items are sub-standard,
we said that about Chinese items many years ago, now see how strong they have grown and the quality of items they are producing

52 Likes 7 Shares

Re: Nigeria Loses 50% Cargoes To Cotonou Port by abdulrazat(m): 5:24pm On Jan 26, 2016
I'm here for the banter and nothing serious.


Sai baba? Lmao
Re: Nigeria Loses 50% Cargoes To Cotonou Port by Nobody: 5:25pm On Jan 26, 2016
Some people will just wake up and put down a stat that comes into his head.

Nothing expected from the President of importer than this

Let's see how many goods that can be smuggled into the country?

Some people now even smuggle tooth pick to Nigeria.

1 Like

Re: Nigeria Loses 50% Cargoes To Cotonou Port by rozayx5(m): 5:25pm On Jan 26, 2016
lilprinze:
Ever since this dullard has been president nothing good comes happnes in this country again only bad and negative news.
cool

2 Likes

Re: Nigeria Loses 50% Cargoes To Cotonou Port by emymeeky: 5:25pm On Jan 26, 2016
In the land of Milk and the land of oil , the destiny of a great country rests on the shoulders of an old man .... His name.... Daura Dull.ard cheesy

14 Likes 1 Share

Re: Nigeria Loses 50% Cargoes To Cotonou Port by raayah(f): 5:25pm On Jan 26, 2016
If possible futher restrictions should apply. We don't need to import some certain things. We need our manufacturing industry to grow.

It's either the business men find other things to import or start another business.

11 Likes

Re: Nigeria Loses 50% Cargoes To Cotonou Port by jmichlins(m): 5:28pm On Jan 26, 2016
To make omlet you break egg. To be able to get nigeria on the right track the government need to move it from the wrong track. some will bear the pain unfortunately

6 Likes

Re: Nigeria Loses 50% Cargoes To Cotonou Port by Freshboi: 5:28pm On Jan 26, 2016
While some people claim APC is synonymous with bad luck, consider these:
(1) Without the Nigerian border, the Republic of Benin is finished economically.
(2) these goods will still enter the Nigerian market via the land border. This translates to more revenue for the Customs service of the Nigerian state.
(3) It would reduce the burden on our major ports

3 Likes

Re: Nigeria Loses 50% Cargoes To Cotonou Port by seunajia: 5:30pm On Jan 26, 2016
This silly news does not make any sense. Is it the forex restriction that unloads their freight in Lagos?!!!

These eejits are economic saboteurs. They are importing illegal items banned for import by the CBN through our backstabbing West African neighbours. They then smuggle these junks in through our porous borders.

It is not their fault, Nigeria is to blame for not securing her borders.

The need for better border control cannot be over-emphasised. If our borders with Niger, Chad and Cameroon were better policed, boko haram may have been a thing of the past.

That was how some animals in human form were taking money for subsidy and shipping cheap petroleum products over the borders!

3 Likes

Re: Nigeria Loses 50% Cargoes To Cotonou Port by Freshboi: 5:30pm On Jan 26, 2016
clintwine:
It is not necessarily a bad development, its actually a good one and working
It means that Imports are almost halving, now we can look at increasing our exports and boosting our economy with locally made things
It is silly that we were importing toothpicks

we should be looking at 50% reduction in imports and 50% increase in exports
that way we would have a stronger economy and stop depleting the foreign reserves

now that we know the items are being diverted to Cotonou, the government should deploy more custom officers towards that border
and make sure that we get every revenue from legal items coming in from that end
every illegal item should be confiscated and sent to IDP camps and displaced people, then the rest auctioned to families with less than a certain household income

Change means that we have to adjust and make some scarifies for the betterment of our collective tomorrow, nobody said it will be easy
Let us start thinking of what we can export and sell,

Before someone says locally made items are sub-standard,
we said that about Chinese items many years ago, now see how strong they have grown and the quality of items they are producing



Talk to them o

7 Likes

Re: Nigeria Loses 50% Cargoes To Cotonou Port by MansaMoussa: 5:30pm On Jan 26, 2016
Lolzzzz
So after receiving the items at beniniois ports, they intend to smuggle it into nigeria? Or how do they intend to recoup?
Hameed Ali, Over to you!
Re: Nigeria Loses 50% Cargoes To Cotonou Port by Trut(m): 5:30pm On Jan 26, 2016
raayah:
If possible futher restrictions should apply. We don't need to import some certain things. We need our manufacturing industry to grow.

It's either the business men find other things to import or start another business.

How many items are you manufacturing? It's easy to manufacture by typing on Nairaland.

21 Likes 1 Share

Re: Nigeria Loses 50% Cargoes To Cotonou Port by Nobody: 5:33pm On Jan 26, 2016
jmichlins:
To make omlet you break egg. To be able to get nigeria on the right track the government need to move it from the wrong track. some will bear the pain unfortunately


Your foolishness is indescribable.

7 Likes

Re: Nigeria Loses 50% Cargoes To Cotonou Port by Nobody: 5:36pm On Jan 26, 2016
It quite commendable for FG to take this bold step many of us might not aware of the good side but very soon thus country will regain her lost glory.
Is high time to do cultivate habit of consuming locally produced commodities and do way with those we can not produce for the time being, allowing foreign country uses our dear country as dumping ground is no more.
Virtually across all streets in Lagos there present was OKRIKA joints where all residents hand picked various dressing ranged from, shirt, skirt, trousers, belt, bags and nails...... Name it all are TOKUNBO.
This always pisses me off and posed danger of shaking OKIRIKA human being unaware.
Must me continue like this as a nation? When are we going to be proud of our own makings? When are we going to stop wearing ALOKU OYINBO and still paraded ourselves as big boys/girls, when our celebrities will stop living large in OKIRIKA attires when and when are we going to get it right in this country?

7 Likes 1 Share

Re: Nigeria Loses 50% Cargoes To Cotonou Port by Nobody: 5:36pm On Jan 26, 2016
It quite commendable for FG to take this bold step many of us might not aware of the good side but very soon this country will regain her lost glory.
Is high time to do cultivate habit of consuming locally produced commodities and do way with those we can not produce for the time being, allowing foreign country uses our dear country as dumping ground is no more.
Virtually across all streets in Lagos there present was OKRIKA joints where all residents hand picked various dressing ranged from, shirt, skirt, trousers, belt, bags and nails...... Name it all are TOKUNBO.
This always pisses me off and posed danger of shaking OKIRIKA human being unaware.
Must me continue like this as a nation? When are we going to be proud of our own makings? When are we going to stop wearing ALOKU OYINBO and still paraded ourselves as big boys/girls, when our celebrities will stop living large in OKIRIKA attires when and when are we going to get it right in this country?
Re: Nigeria Loses 50% Cargoes To Cotonou Port by Nobody: 5:36pm On Jan 26, 2016
raayah:
If possible futher restrictions should apply. We don't need to import some certain things. We need our manufacturing industry to grow.

It's either the business men find other things to import or start another business.

I thought females were better thinkers? More Restrictions? Did you calculate the pros and cons before writing this?

4 Likes 2 Shares

Re: Nigeria Loses 50% Cargoes To Cotonou Port by Nobody: 5:37pm On Jan 26, 2016
It quite commendable for FG to take this bold step many of us might not aware of the good side but very soon this country will regain her lost glory.
Is high time to cultivate habit of consuming locally produced commodities and do way with those we can not produce for the time being, allowing foreign country uses our dear country as dumping ground is no more.
Virtually across all streets in Lagos there present was OKRIKA joints where all residents hand picked various dressing ranged from, shirt, skirt, trousers, belt, bags and nails...... Name it all are TOKUNBO.
This always pisses me off and posed danger of shaking OKIRIKA human being unaware.
Must me continue like this as a nation? When are we going to be proud of our own makings? When are we going to stop wearing ALOKU OYINBO and still paraded ourselves as big boys/girls, when our celebrities will stop living large in OKIRIKA attires when and when are we going to get it right in this country?

2 Likes

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