Apapa Wharf Terminal Goes Empty As Traders Shun Importation

CYRIACUS IZUEKWE

This is not the best of time for traders and importers of various goods into the country as the present economic recession and inflation in Nigeria are biting so hard.

The harsh economic situation, as it affects the generality of the people, it has started taking its toil on the ports, especially the ever busy Apapa Wharf Terminal.

When our correspondent visited the Wharf, it was observed that the very bustling terminals are virtually empty with few containers there.

P.M.EXPRESS findings also revealed that owing to this hard condition, some importers have stop importation as they adopt a ‘wait and see’ approach to study whether things will improve generally before they can go back to business.
Some of the clearing agents and traders who spoke to our correspondent confirmed the latest development.

They lamented that they have been temporary out of job and blame the whole situation on the harsh policy of the present administration and also the troubled foreign currency exchange challenges that has devalued the Naira.
James Mark, an agent said the government policy both on importation and currency  has negatively affected business operation in Wharf and importation of goods generally in Nigeria.
He said the cost of clearing goods at Wharf has tripled and when traders manage to import and clear their goods, such importers mostly sell at a loss.
“Do you expect him to import again?” he asked.
Another agent, Ifeanyi Ezeibe also corroborated Mark’s position. He alluded to the issue of forex which has been inconsistent since the present administration came to power which has worsened the situation.
He said those who import goods had to stop because they are importing at a loss because after buy a forex at an higher rate to import goods, it become difficult to sell and make gains.
A spare part and vehicle dealer, Martin Egbu said he had since stop importation due to the recession and cost of dollars which have made it difficult to sell goods he has earlier imported.
He said an engine of a Toyota which used to cost N400.000 is now going for N1.2 million. This huge gap has made it difficult for customers to patronise them.
This is applicable to those who import goods such as Rice, Phones, Accessories, Auto Spare parts, electronics among others.
Some of them called out on the federal government to do something about this unfavourable business environment and if necessary urgently do something to change the policy to save the total collapse of business in Nigeria.

Meanwhile, this lull in the activities at this port has reduced the perennial traffic gridlock on the Mile 2 to Apapa Expressway corridor caused by trucks and tankers waiting to lift or move containers and products.

Our correspondent observed that unlike in the past when it takes hours to travel on that axis, it now takes few minutes to drive to Apapa.

“The traffic has reduced drastically and this can be attributed to the fact that the demand for articulated vehicles has gone down because of low activity. Import has fallen considerably,” said an agent.

“The economics of transport is a derived demand, that is to say that there must be a benefit to derive in the demand for articulated vehicles, but if that benefit is longer available, traffic naturally dwindles,” he added.