Business
‘Port operations threatened by high production cost’
Stakeholders have expressed fears that the escalating production cost might stall operations at the nation’s seaports.
Daily Trust investigations revealed that terminal operators are now crying over the high cost of diesel, declining value of the naira and drop in import, saying that it is impacting negatively on port operations.
Former acting National President of the Association of Nigerian Licensed Customs Agents (ANLCA), Dr. Kayode Farinto who spoke to our correspondent on port operations said presently the rising cost of diesel, declining value of the naira and high rate of inflation, among other factors are impacting on port operations.
Farinto said the recent increase in the pump price of diesel justified the need for upward review of terminal operators’ charges.
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“We all know that the indices of working in the port now are not as it used to be and things have changed. The terminal operators too are Nigerians and if we juxtapose what is happening vis-a-vis the fact that there has been an increment in prices of fuel and the dollar has risen, there has to be a rise in their charges too.”
