Friday, June 18Inside Business Africa
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Apapa Gridlock: Importers Incur N100bn Demurrage, Storage Fees in Five Days

Apapa Gridlock: Importers Incur N100bn Demurrage, Storage Fees in Five Days

Business
Five days after THISDAY exclusively reported that over 500,000 containers are trapped at the Lagos ports owing to the intractable Apapa gridlock, the situation has worsened with shippers incurring N20 billion on demurrage and storage charges daily. Customs agents who spoke to THISDAY yesterday said importers pay N25, 000 as demurrage per container a day and another N15,000 as storage fees to terminal operators excluding 7.5 per cent value added tax (VAT). This amounts to N12.5 billion daily demurrage charges on the 500,00 trapped containers and N7.5 billion storage fees. At the close of business today, importers would have incurred a massive N100 billion on demurrage and storage fees in just five days. This is despite the marching orders given by the Minister of Transportation,...