Q1 2023: drop in imported cargo as importers are skeptical of incoming administration’s policies

Q1 2023: drop in imported cargo as importers are skeptical of incoming administration's policies


Palpable gloom in the nation’s seaport over unpredictable policies of the incoming government of the president-elect, Senator Bola Ahmed Tinubu as importers deliberately slow down activities in the first quarter of 2023.

Statistics have shown that the volume of cargoes that came into the country in the first quarter of 2023 is low compared to the same period in the immediate past year, 2022

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According to statistics by the Nigeria Customs Service (NCS), the volume of imported cars into the country reduced drastically from 97,132 in the first quarter of 2022 to 51,782 units in the same period in 2023.

The Nigerian Ports Authority (NPA) daily publication of expected vessels into the country shows that only about 21 vessels were expected at the nation’s ports between April 27 and may 4, 2023.

The figure is a far cry from the 30 vessels that berthed in Nigeria within the same period in 2022.

Speaking on the development, the National President, African Professional Freight Forwarders and Logistics of Nigeria (APFFLON), Otunba Frank Ogunojemite said that the drought in cargo throughput into the country was due to weak state of naira against dollars

He added that “Again, the rate of inflation is not stable as well as the low per capita income of Nigerians.

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“Toyota Corolla of 2003 model selling for Million before now sells for N3 Million and trade performance still remains the same.

” I see all these things affecting the importation of cargo and don’t forget that we are just migrating from pandemic and people are suffering globally.

“China is just opening for businesses while some countries are yet to open for businesses due to impediments which Nigeria is not excluded from. So, it is not peculiar to Nigeria.

Asked if there would be improvement in cargo throughput in the country, he said that the people would adjust but might take time because of transition in government.

The APFFLON boss however called on the incoming government to address the menace of outrageous levies on imported goods into the country.

“Definitely, there is going to be improvements because the needs of the people are not reached. The.people will only fine-tune and adjust

“Again, people will be slow in their adjustment because of the transition in government.

“Levies in goods coming into the country too are not helping and we are hoping that the incoming government will look holistically into the issue.”

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