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Wednesday, August 17, 2022

Experts say Apapa gridlock costs Nigeria, N140bn weekly in economic loss

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Experts in the Maritime industry have said that Nigeria could save the N140 billion weekly economic losses and another $10 billion import/export products wasted annually if the stifling traffic is curtailed.

Also, they recommended that the government should revive pipeline transportation; diversify transportation system; reclaim some lands; among others as some solutions to curbing traffic gridlock hampering business activities and crippling the economy

The experts said these during a two day Maritime Summit organized by Maritime Journalists Association of Nigeria, MAJAN with the theme: “Apapa Perennial Traffic Gridlock: Has It Defied All Solutions.”

The experts who are maritime stakeholders included: Francis Omotosho, Registrar, National Association of Government Approved Freight Forwarders, NAGAFF Academy; Pius Okonu, Association of Nigeria Licensed Customs Agents, ANLCA; Former National President of the National Association of Government Approved Freight Forwarders, NAGAFF, Eugene Nweke; as well as President MAJAN, Mr. Ray Ugochukwu, among others.

Specifically, Omotosho noted that the provision of adequate transport system infrastructure would further solve the problem of traffic congestion, while Ugochukwu said that real estate business in Apapa is almost at zero level with more than half of the buildings in the area unoccupied, while some thriving businesses have folded up or relocated because of traffic nightmare.

He also said: “According to Organised Private Sector (OPS) stemming the stifling traffic would remove the estimated N140 billion weekly economic loss and another $10 billion products wasted annually.

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