2015 will go down as the toughest year in the maritime industry of Nigeria.
At the beginning of the year 2015, operators in the industry (especially the RORO port operations) were worried following the introduction of the auto policy which raised the import duty and levy payable on both new and fairly used vehicles to 70 percent from the previous 20 percent.
The RORO operators have said that the policy has killed automobile importation business in Nigeria.
Secondly, the ban on importation of rice through land border was also a source of worry for some importers.
Effect of FG’s foreign exchange policy on port operation made it difficult for them to do business. Ubogu also said the industry had been experiencing downturn due to the forex restrictions and lack of policy direction by the government.
Resignations, sack and appointment of Head of parastatals resulted in the struggle for efficient management.
Source: Vanguard Newspapers