Tuesday, March 13, 2018 /08:47
AM / FBNQuest
new data series from the NBS captures shipping and port activities. The ship
traffic statistics, drawn from the Nigerian Ports Authority, show a provisional
figure of 4,175 vessels berthed at various ports across the country in 2017.
compared with 2016, the total number of vessels recorded last year represented
a -9.2% y/y decline. Meanwhile, total inward cargo last year decreased by -0.8%
y/y to 43.0 million metric tons (mmt).
The decreases recorded in both total
vessels at berth as well as total inward cargo could be partly linked to the
modest success achieved by the FGN in its import substitution strategy.
Additionally, the spending capacity of households remains subdued, despite the
nascent economic recovery, resulting in soft demand for foreign purchases.
Based on CBN data, Nigeria generated
N1.7trn in customs and excise duties in 2017, compared with N1.5trn recorded in
the previous year.
There is an over-reliance on Lagos ports.
Although, the Apapa and Tin Can Island seaports collectively accounted for 75%
of total inward cargoes last year, inward cargo traffic for both seaports
The evacuation of cargoes remains a major
challenge, with other transportation links surrounding the port in poor
condition. The Nigeria Port Authority has introduced cargo evacuation by barge
as a short-term solution to evacuation challenges experienced at the Lagos
In our opinion, the government should
consider optimising the existence of other seaports by providing incentives to
encourage patronage. This should assist with easing the pressure on the Lagos
ports. The national accounts for Q4 2017 show that water transport grew by 3.4%
- QoQ Dip in Air Passenger Traffic for Q4 2017
- Lagos, Abuja, Port Harcourt, Owerri and Kano
Airports Served Over 92% of Total Passengers in Q4 2017
- 4,175 Ocean Going Vessels Recorded at Nigerian
Ports in 2017
- 2,489 Road Traffic Crashes Occurred in Q4 2017 -
- Aliko Dangote Assures Timely Completion Of Apapa
Road to Address Reported N20bn Daily Loss
- Average Air Fare Increased by 7.34% YoY in
January 2018 - NBS
- Dangote, Flour Mills on course to complete repair
of Apapa Wharf Access Road
- Average Fare Paid by Passengers for Water
Transport Increased by 6.05% MoM to N631.55 in Dec 2017
- Kenya's First Commercial Cargo Train Begins
- Average Intercity Bus Fare Increased by 14.78%
MoM in November 2017