A Review of the Nigerian Energy Industry

Nigerians transact over 30% seaport business on vehicles, petroleum products

Mr. Olusegun Aganga
Mr. Olusegun Aganga, Trade and Investment Minister

27 September 2014, Lagos – A recent report on the performance of the Nigerian ports has shown that over 30 per cent of seaport business by Nigerians is on vehicles and petrol importation in the first half of the year. The report also showed that Nigerians imported over 154,800 cars and over 10 million metric tonnes of petrol in 6 months

The report, which was contained in a statement signed by the Nigerian Ports Authority (NPA), Assistant General Manager, Mr. Musa Iliya, confirmed Nigeria as a consumptive country rather than a productive one.

According to the report on the first half year performance of NPA which was obtained by THISDAY, over 30 per cent of the nation’s business was transacted on vehicles and refined petroleum products importation.

It said in the first half of this year imported a total of 154,846 units of vehicles through the seaport, (excluding those smuggled), within the first six months of this year, showing an increase of 16.5 percent, when compared with vehicles imported into Nigeria over the same period of 2013, which figure stood at 132,930 units.

The country also imported  refined petroleum products which accounted for about 25 per cent of the entire through put (total import and export cargo) with a shipment which stood at 10,189,177 metric tonnes, posting an increase of 3.6 percent over our 2013 consumption figure of 9,835,719 metric tonnes.

The LNG the NPA handled, however, slightly exceeded the refined petroleum products shipment as it hits 10,418,248 metric tonnes, showing a growth of 23 per cent over the figures of the corresponding period of last year, which was 8,462,535 metric tonnes.

“Cargo throughput stood at 41,317,962 million metric tonnes, showing an increase of 15.4 per cent over 35,812,858 metric tonnes achieved in 2013”, it said.
Ironically, a breakdown of the cargo throughput showed that general cargo was 5,975,098 metric tonnes, indicating an increase of only 1.3 per cent; over 5,900,817 metric tonnes recorded in the corresponding period of 2013. Just as dry bulk cargo, like cement, sugar, flour, wheat and so on stood at 4,841,816 metric tonnes as against 4,573,322 metric tonnes achieved in 2013, showing a rise of 5.9 per cent.

“Refined Petroleum product was 10,189,177 metric tonnes, an increase of 3.6 per cent over 2013 figure of 9,835,719 metric tonnes. Laden Container throughput was 509,946TEUs, a growth of 14 per cent over 447,388TEUs figure of 2013”, the report added.

Within the period under review, Nigeria also returned empty containers, which amounted to 364,745TEUs; showing a growth of 14.2 percent, over the 2013 figure of 319,467TEUs.


– This Day
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