Nigeria’s economy lifted by N3.9trn through port concession

Not less than a whopping N3.9trillion ($8.5bn) has been injected into the Nigeria’s economy from cargo importers in the last 17 years through stoppage of long vessels waiting time at the seaports.

It’s worthy of note that before port concessioning exercise embarked upon by the administration of Ex- president, Olusegun Obasanjo in 2006, it was gathered that foreign shipping firms have slammed congestion surcharge on Nigerian bound cargoes due to long vessel waiting time at Nigerian seaports.

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