Capital Flight In Sea Ports Worrisome -Manufacturers

THE Manufacturers Association of Nigeria, MAN has said that the Nigerian Ports Authority may lose more resources to neighboring ports in 2015 if terminal and shipping charges are not reviewed.
The Chairman, Corporate Affairs and strategic committee of MAN, John Aluya, who stated this in Warri, said that the Nigeria Ports may lose more to neighboring ports and that unless terminal operators and shipping companies are checked properly, their exorbitant charges will cause a lot of havoc to the Nation’s economy.
According to him, except the terminal operators and shipping companies are properly checked through strong political will of the government, they will do a lot havoc to the nation’s economy.’
He noted that apart from the efforts of the port regulatory body to ensure that the cost of shipping service were checked, the Federal Government must demonstrate enough political will to get the shipping service providers to comply with international standards of shipping business.