Chai! Na serious wahala dey our maritime sector o! Sea Empowerment and Research Centre (SEREC) don drop gbam report wey talk say dis regulatory wahala fit cost Nigeria between N500bn and N700bn every year, no be small money o! Dem sign am on Wednesday, as their Head of Research, Eugene Nweke, carry am go meet Minister of Marine and Blue Economy, Adegboyega Oyetola.
SEREC no just stop there, dem gatz talk about dis recent protest wey happen for Apapa Port Corridor. Na as shipping company shut down operations because dem increase freight rates, e cause serious gbege! E turn to street protest wey no suppose happen. No lie, this matter fit scatter things for our economy.
Dem talk say di report wey dem drop dey carry post-protest assessment and policy advisory join body. E mean say if we continue this way, dem go underprice our competitiveness for West Africa, which fit make other countries carry 10-15% of our transit cargo. This one no good at all!
SEREC don warn say if dis regulatory gap continue, Nigeria go dey lose big for trade inefficiency, and dis go lead to inflation wey we no fit control, make e add between 0.7 to 1.2 percentage points to market prices annually. That one na serious matter wey we no fit take light! Na food and other basic needs go suffer pass.
Dem complain say shipping line and terminal charges dey increase anyhow, and na im cause dis protest by freight forwarders who no wan gree carry dis extra load. If dem decide to add N150,000–N250,000 per container, we go dey spend extra N225–N450bn yearly. Abeg, who go fit carry dat kind burden?
SEREC still talk say even though Nigerian Shippers Council don try suspend dem increase, systemic issues dey inside wey dey put us for wahala. Dem gree say port charges fit be as high as 30-40% of total landed cost for goods. Na who go fit survive that kind matter?
For every 10% wey dem increase logistics cost, na 1.5 to 2% on top consumer prices. E mean say we dey create hidden inflation wey dey affect everybody, especially food prices. Dis one dey clear say our anti-inflation efforts dey face serious wahala!
SEREC don warn say if we no fix dis matter, physical shutdowns fit dey disrupt cargo clearance, and we fit dey lose N3bn–N5bn daily! Chai! Na serious damage wey go affect everybody for the sector.
Dem encourage government make dem create better tariff review framework, make dem fit reduce unwanted charges by 10-20%. If dem fit do am, we fit save between N200-400bn for dis economy yearly. E go better if we fit save N50-100bn from preventing disruptions wey dey spoil business.
SEREC dey call for sharp action as dem say Nigeria fit add N1tn to N2tn to GDP if we fit improve trade efficiency. Dis protest no be just wahala, but a big warning wey dey show us say regulation need strong hand, not gree-gree management!
Na so e be as SEREC dey champion this matter, we gatz look sharp and fix our maritime wahala make everybody fit enjoy the benefits!
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