Forex forces car imports to drop from 30,000 to 6,000 in 6 months
The Operations Manager, Ports and Terminal Multiservices Limited (PTML), Mr. Jack Angrish has linked the massive drop of vehicles import to the excruciating impacts of forex, saying cars imports have crashed in the last six months from 30,000 to less than 6,000 at PTML.
Visit to PTML’s car parks in Tincan showed virtually empty garage and anger amongst stakeholders.
Angrish on Saturday in Lagos revealed that “this is the time for vehicle business operators to pool their resources together to facilitate domestic manufacturing.’
He said the country will be insulated from the unexpected fluctuations of the dollar if businesses begin to look inward and improve on available resources and opportunities.
He said “Vehicle imports have reduced from 30,000 to 6,000 in the last six months with the attendant problem of loss of jobs by terminal officials. Many vehicle seats are empty and this is the last quarter of the year.
“It is very unfortunate that the loss of Nigeria in terms of revenue on vehicle imports has continued to be the gains of the neighbouring ports of Cotonou (Benin Republic) and Lome (Togo),’’ the PTML manager said.
According to him, car smuggling via the ports of Cotonou and Lome is becoming unbearable to Nigerian ports.