Nigerian importers to shell out additional N59 billion on freight charges annually

Nigerian importers to shell out additional N59 billion on freight charges annually

Jan 10, 2017: Nigerian importers and shippers are expected to spend N59 billion in 2017 in the form of freight levies on every container entering the country.

In a recent move, foreign shipping lines raised the freight rate under ‘Government and Port Taxes’ by N38,000, without citing any reason for the increase.

This N59 billion is apart from the N2.3 trillion that international and local shipowners and charterers entering Nigeria have to pay annually to foreign insurance companies to cover their ships against any attacks. 

According to reports, each of the 5,000 vessels calling at the nation’s ports is made to pay $100,000 annually (totalling N2.3 trillion) as insurance premium, tagged ‘War Risk.’ Industry statistics suggest that 1,020,240 containers were received at Lagos port in 2010 while 1,268,758 containers were discharged at the Lagos Port in 2011. An incremental 1,368,000 were received in 2012, 1,396,057 in 2013, 1,551,540 and 1,317,212 in 2014 and 2015 respectively.

The increment, reports suggest, would divert cargoes to ports in neighbouring countries like Benin Republic, Togo and Ghana among others.

 

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