Ultimate magazine theme for WordPress.

Gridlock threatens export trade as $300m cashew nuts trapped in Lagos Ports


Nigerian Exporters have cried out to the Federal
Government for help, saying cashew nuts valued at $300 million(N108 billion)
have been trapped at the Lagos ports as a result of congestion and inefficiency
at the ports

exporters said
gridlock and inefficiency at the ports of Nigeria’s commercial hub, Lagos,
delayed shipment of 50,000 tonnes of cashew nuts and is threatening this year’s
output as traders are cash-strapped.

President of Nigeria Cashew
Exporters Association, Tola Fasheru told Bloomberg.com
that the fruits from last year’s harvest
should have been exported by January; “Instead, they are still in containers on
trucks waiting to enter the ports or on wharves.”
“Roads to Lagos ports are
badly congested, with hundreds of lorries queuing to enter the premises and
either deliver or pick goods. In addition, inadequate capacity and
infrastructure, stifling red tape and corruption are hampering export
processes, “Fasheru said.
“There is a palpable lack
of synergy among the port operators and this is affecting the business of our
members, ”he said.
Some members of the cashew
association, he added, have defaulted on contracts to the extent that foreign
buyers are now walking away from them.
are no longer willing to give us fresh contracts,” said the group’s president.
The delay is likely to affect the output target of 260,000 tonnes for the current
season, which started in February and will end in July.

one single cashew exporter is in the field now as he is owing on contracts and
as a result has no money to operate with,”

Leave A Reply

Your email address will not be published.