Nigeria controls 70% of cargo traffic of West and Central Africa

Photo from Internet

The Chairman, Nigerian Ports Consultative Council (NPCC), Chief Kunle Folarin, says Nigeria controls 70 percent of cargo traffic of West and Central Africa.

Folarin made this known on Friday in Lagos during the 3rd Annual Maritime Conference in honour of Dr Taiwo Afolabi,the Chief Executive and Vice Chairman, Sifax Group.The Theme of the conference was: "Port Costs and Ports Charges: A Recurring Decimal under Port Reform Regime", held on Friday in Lagos.

According to the maritime economist, the percentage is far from the formal trade alone and will.certainly be bigger if we consider the informal trade aspects of cargo movements.

He said that the traffic into Nigeria by latest data was over 5,307 ships per annum. "The potential is certainly bigger when we consider the capacity of cargo traffic to Nigeria’s landlocked neighbours such as Niger Republic and Chad. In real terms, over 85 percent of all the goods and services that entered Nigeria came through the seaports."

The current aggregate value exceeds $15 billion dollars a year through normal imports and Nigeria also imports over two million tonnes of non-oil cargo yearly.

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