Site icon News Portal NP

Forex crisis halts development of four inland dry ports projects.

Forex crisis halts development of four inland dry ports projects.

Maritime operators have attributed the delay in completing four of the approved seven inland dry ports in Nigeria to the foreign exchange crisis and other issues. These ports were established in 2006 to expand the country’s cargo handling capacity and were expected to be managed by private sector operators.

However, only three out of the seven ports have been completed so far, with the remaining struggling to meet their operational obligations. The exchange rate fluctuation and the high cost of establishing a dry port have been major factors hindering their full operation.

Despite the challenges, industry experts see the inland dry ports as a valuable initiative that can enhance economic activities in Nigeria’s interior regions. Implementing successful dry ports could also alleviate congestion at seaports by facilitating the swift movement of containers to inland locations.

The Nigerian Shippers’ Council has taken steps by partnering with the Nigerian Railway Corporation to improve the transportation of goods from seaports to the IDPs. Overcoming logistical and financial hurdles will be crucial in realizing the full potential of these dry ports.



Source link

Exit mobile version