Container Imports Into Nigerian Ports Grows By Thirteen Point One-Zero Percent In 5 years
Written by Adewale Adeyemi on February 1, 2023
The volume of imported containerised goods brought into Nigerian seaports has grown by thirteen point one-zero percent in five years to one million, nine thousand, three hundred and twelve, twenty-foot equivalent units in the past five years, from 2017 to 2021.
According to the port statistics of the Nigerian Ports Authority (NPA), the growth shows that despite the two most recent economic recessions in 2016 and 2020, the African biggest economy in the last five years, relied largely on the importation of raw materials, industrial chemicals, and semi-finished as well as finished products to sustain its population and grow the manufacturing sector.
A breakdown of the port statistics shows that the containerised imports, which stood at 806,219 TEUs in 2017 grew by 3.11 percent to 831,314 TEUs in 2018.