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A significant decline in vessel arrivals at the country’s ports has precipitated a severe crisis in the maritime sector, compounded by the ongoing forex and inflation challenges affecting the economy.
Affected parties include terminal operators, shipping companies, truckers, licensed Customs agents, and freight forwarders.
As a result, the number of vessel arrivals has plummeted to such an extent that terminal operators and shipping companies are facing substantial difficulties in maintaining their operations.
There has been a 4.5 percent decrease in the number of vessel arrivals at Nigerian ports, declining from 3,957 in 2022 to 3,778 in 2023.
Reports from the Nigerian Ports Consultative Council, NPCC, during its quarterly meeting, indicated a 6.8 percent reduction in container traffic, from 1.68 million 20 Feet Equivalent Units (TEUs) in 2022 to 1.56 million TEUs in 2023.
Furthermore, cargo imports fell by 20 percent, containerized goods by 30 percent, and vehicle imports by 55 percent during the same period.
It has also been noted that a vessel that previously arrived in the country with 4,000 containers now arrives with only 300.
Recognizing this decline, the Comptroller-General of the Nigeria Customs Service, NCS, Adewale Adeniyi, remarked on the significant decrease in cargo traffic and urged Nigerians to increase their involvement in exports to strengthen the naira.
During his visit to terminals in Lagos State, Adeniyi expressed concern over the emptiness of many terminals, emphasizing that imports have notably declined.
“That is an indication of where the economic pendulum is swinging. Even the man on the street knows that the economy is bad. The government has also acknowledged that the volume of vessel calls has dropped too.
“If any terminal operator is making plans to reduce staff strength, do not blame such operator because the bottom line of any business is profit, so they must have their reasons for their proposed action.”