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Published 26 January 2021
THE fresh alarm raised by stakeholders over the astronomical cost of haulage within the Lagos ports area demonstrates the desperate need for a quick solution, especially as Nigeria continues to suffer the crushing effects of economic recession.
According to a recent report by the Financial Times of London, the congestion at the Tin Can Island Port in Lagos has become so bad that trucking a container from the port to the mainland, which is just about 20 kilometres, now costs about $4,000 (N1.5 million). That is almost the same cost as shipping one container from China to Nigeria, a distance of 12,000 nautical miles. This is a costly economic hurdle that must be surmounted immediately.