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NPA has announced a 15% increase in ports tariff, sparking concerns of a fresh price hike nationwide.
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Stakeholders in the sector have warned that the tariff increase burden will be passed on to goods consumed by Nigerians.
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The latest NPA tariff is expected to trigger a further inflation spike, worsening the economic situation.
The Nigerian Ports Authority (NPA) has announced a 15% increase in ports tariff, sparking concerns of a fresh price hike nationwide.
The increase was announced by the Managing Director of NPA, Dr. Abubakar Dantsoho, at an event in Lagos on Thursday.
According to Dr. Dantsoho, “This belated tariff review, borne out of necessity, constitutes a critical success factor in Nigeria’s quest to win back cargo handling business and its accompanying benefits, including job opportunities it had lost to its maritime neighbours.”
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However, stakeholders in the sector have warned that the tariff increase burden will be passed on to goods consumed by Nigerians.
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Mr. Ukochukwu Nnadi, National Association of Government Approved Freight Forwarders, stated, “Definitely it will add to the cost of doing business because every kobo added to doing any particular thing, no matter what the thing is, will be passed to the customers, and the customers in this case are the stakeholders.”
This comes as Nigerians currently battle with high headline and food inflation rates, which stood at 34.80% and 39.93%, respectively.
Also, the latest NPA tariff is expected to trigger a further inflation spike in Africa’s most populous country, already faced with economic hardship.
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