Business

Operators worry as tokunbo cars, revenue drop

Vehicle importation into the country has again worsened as the biggest roll-on-roll-off terminal in the country, Ports & Terminal Multipurpose Limited expects just 1,050 units of vehicles in 11 days, the daily shipping position of Tuesday has revealed.

The document obtained by the PUNCH showed that between October 16 and 27, a total of 1,050 used vehicles were expected to arrive at the terminal.

The sharp drop in import has been attributed to shortage of foreign exchange in Africa’s largest economy.

Daily Shipping Position is a document showing the vessels coming into the country, the name of the vessel, time of arrival, port of destination, and what the vessel is carrying.

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Giving a breakdown of the imports, the document said that a total of 400 units of used vehicles came in on the 16th while 350 units of used vehicles are expected to arrive at the terminal on the 20th and 300 on the 27th of October.

The PUNCH reports that the acting Comptroller General of Customs, Adewale Adeniyi, during his recent visit to PTML, admitted there is a drop in vehicle importation adding that most imported used vehicles at the terminals are damaged.

He said, “We have walked around the whole of this terminal, you have seen the situation, we can see the direct effect on this particular terminal alone. So in terms of cargoes, we know that the volume is also going down by the day.”

Also speaking on the situation, a licensed customs agent and the Chief Executive Officer of Sikremstar Logistics Limited, Sikiru Remilekun, in a chat with our correspondent in Lagos on Wednesday, said that the volume is low when compared to what used to come into the country before now. He blamed the hike in exchange rate as the reason for that drop.

The youth leader of the Association of Nigerian Licensed Customs Agents reiterated that some of the vessels coming with larger units of vehicles hardly call at the ports lately.

“So those that normally come with large number of vehicles hardly come these days because of the dollar issue. Even some terminal managers can confirm to you that there is a drop in vehicle importation.”

Also speaking, the Tincan Island Chapter Chairman of the National Council of Managing Directors of Licensed Customs Agents, Abayomi Duyile, said, “Everybody knows what is happening as even the CGC confirmed it when he came to PTML recently. He confirmed that what he used to see at the terminal before was neat vehicles but now most vehicles at the terminal are damaged.”

The PTML Chapter Chairman of the National Association of Government Approved Freight Forwarders, Mr. Thomas Alor, said, “A vessel used to come with over 4000 used vehicles at PTML unlike what we have now. The reasons for the drop are the increase in exchange rate and high cost of clearance.”…..CONTINUE.FULL.READING>>>

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JOLOWO BUNALAYEFA PIUS is the Chief Executive Officer (CEO) for BUNADY NEWSLITE GLOBAL ENTERPRISE (Bunady.com). He started his Blogging/Journalism career at God's Own Wireless Company 2012. He's a graduate of Adekunle Ajasin University Akungba Akoko Ondo State, with a major in History And International Studies. You can contact him for press events, advertisement promotions on Email: contact.bunady@gmail.com

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