Business Hilights

Tracking Nigeria's Headline Business News Online

Port Access Road

Lagos bad port access roads rob Nigerian exporters, importers $10bn annually

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Few days after the Vice President, Yemi Osinbajo announced the readiness of the federal government to begin reconstruction work on Apapa-Oshodi Expressway, the National President, Cashew Farmers Association of Nigeria (CFAN), Mr. Tola Faseru has disclosed that exporters of agricultural produce and other goods are losing about 10 billion dollars annually to the Apapa gridlock challenge.

In an interview in Abuja on Monday, Faseru added that the development was affecting export delivery time. Faseru, also a cashew exporter, said the challenge was also hindering exporters’ ability to fulfil commitments on time and making forwarding and shipment very expensive. The national president, who commended Federal Government’s efforts toward ensuring that normalcy returned to Apapa road in Lagos, appealed for stiffer measures to quicken the intervention and change.

Faseru recalled that “The Vice-President, Prof. Yemi Osinbajo came to give them matching order again on the Apapa gridlock. “It is still a big problem affecting us and it is over one year now since this thing started and it is still on.”

On plans to commence cashew processing in the country, he said the Minister of Agriculture and Rural Development, Chief Audu Ogbeh had agreed to support the process. “The minister is talking about bringing some equipment to aid cashew processors and use as pilot scheme to support cashew processing industry in Nigeria,’’ he said. The president called on members and exporters of agricultural produce to work in unity and also support government’s initiatives that are geared toward making business environment friendly.

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