Saturday, March 30,2019
A shipment of 50,000 tons of cashew nuts valued at $300 million is threatened at Nigeria’s Apapa port due to gridlock and inefficiency.
Tola Fasheru, president of Nigeria Cashew Exporters Association, told Bloomberg News that the fruits harvested last year are still along the Apapa-Oshodi expressway waiting to enter the nation’s ports for exports.
“There is a palpable lack of synergy among the port operators and this is affecting the business of our members,” Bloomberg quoted Fasheru in a telephone conversation.
He said the delay in shipment has caused some cashew traders to default on contract and inability to meet up with buyers or get fresh contracts.
Apapa gridlock costs Nigeria N600 billion monthly
In December 2018, Terminal operators in Nigeria said the country lost N600 billion monthly to the protracted gridlock at Apapa road. The group, Seaport Terminal Operators Association of Nigeria (STOAN) had also called on the government to take urgent steps at resolving the ugly situation.
According to a report by Dynamar, a maritime consulting firm, Nigeria lost 30% of its container traffic over five years due to chronic congestion and the poor quality of its services at its busiest port, Apapa Port in Lagos.
The government said it is committed to clear the congestion in Apapa Port, fix infrastructure for socio-economic development.