Nigeria Loses $10 Million to Export Disruptions in Five Days

Exporters in Nigeria have reported losses amounting to $10 million due to disruptions in export activities over a five-day period. The setbacks, attributed to port congestion, bureaucratic bottlenecks, and logistics challenges, have intensified concerns over the ease of doing business in the country’s export sector.

According to industry stakeholders, delays at major ports, including Apapa and Tin Can Island, have resulted in perishable goods getting spoiled and shipments missing their deadlines. Many exporters have faced increased demurrage costs, further eroding their profits.

The Nigerian Export Promotion Council (NEPC) has expressed concerns over these recurrent challenges, stressing the need for streamlined export processes and improved infrastructure. Exporters have also called on the government to implement digital tracking systems, enhance port efficiency, and reduce excessive documentation requirements.

Experts warn that if these issues persist, Nigeria risks losing its competitive edge in the global market, especially in agricultural and manufactured goods exports. To prevent further losses, stakeholders are urging immediate interventions, including private sector collaborations and policy reforms, to facilitate smoother trade operations.

With Nigeria striving to boost its non-oil exports, resolving these disruptions is critical to ensuring sustainable economic growth and improving foreign exchange earnings.