ABOUT 60 per cent of cargoes headed to West Africa were destined to Nigeria but only 30 per cent of them were discharged in the country because of high import charges.
A financial expert and research analyst, Johnson Chukwu, who made this comment said that bad port roads and rarity of port infrastructure to facility trade were also responsible incident.
Chukwu wondered why Nigeria would allow Cote d’Ivoire to build the largest seaport in Africa when, according to the expert, a larger chunk of cargoes were destined to Nigeria.
“We do not have enough infrastructure to handle the volume of cargoes we receive. 60 per cent of the cargoes coming to West Africa are destined to Nigeria. But only 30 per cent of the cargoes are discharged in Nigeria. If 60 per cent cargoes are destined to Nigeria, why should we allow Cote d’ Ívoire to build the largest seaport. The shorter the value chain the lower the cost,” the research analyst said.
He said Nigeria at the moment was rated the largest supplier and manufacturer of cement but there was no singular effort to have facilities to export the product.
He warned that if the common ECOWAS tariff was fully implemented, Nigeria would lose business because the common ECOWAS tariff means that once a tariff was paid in one country, no other tariff would be paid in any other country in West Africa.