EXCLUSIVE Ports Closure: Nigeria Lost Estimated #5 Billion Daily - MAN

In News 2019-07-08 08:55:50
EXCLUSIVE Ports Closure: Nigeria Lost Estimated #5 Billion Daily - MAN
EXCLUSIVE Ports Closure: Nigeria Lost Estimated #5 Billion Daily - MAN

By Ufuoma Egbamuno 
The Manufacturers Association of Nigeria (MAN) says last week's shutdown of ports in Nigeria cost the country up to #5 billion daily. Segun Ajayi-Kadir, Director General, MAN, made this disclosure in an exclusive interview with 99.3 Nigeria Info Lagos Business Editor Clementine Okoye. 
Last week Wednesday, Maritime Workers Union of Nigeria (MWUN) began a nationwide strike from Wednesday over unpaid wages to dockworkers.
However, the strike was called off on Friday following intervention from the Permanent Secretary of the Transportation Ministry. 
But Ajayi-Kadir noted that the country would have lost over #10 billion for the two days the shutdown at the ports took place. 
"Certainly, we will be losing more than 5 billion daily that that happens," the MAN DG said.
According to him, the ports are "a virile and active part of our trade" and were "being impaired by the shutdown."
He added: "this is not good for business. It actually runs counter to government objective." 
Meanwhile, Musa Yusuf, Director General of the Lagos Chamber of Commerce and Industry (LCCI), says shutting down ports is not the best way to resolve labour disputes.
Speaking exclusively to Nigeria Info Business Editor, Clementine Okoye, Yusuf said "there has to be better framework," of resolving disputes to avoid the chaos that ensures when ports are shut down. 
"There have been very good engagement before now, the LCCI DG noted. "I think it will not come to the point where people will be shutting down the port."
He added: "I think it's not proper that once there's a little dispute, next thing is to go and shut down the port."
 "We need to make sure that we make engagement both on the part of the labour union and the part of the employers. We need to be responsive on both sides each time."