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    Rivers Government probe death of two-year-old pupil in Wisdom Gate International School, shut academic activities Indefinitely

    Rivers Government probe death of two-year-old pupil in Wisdom Gate International School, shut academic activities Indefinitely

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    Rivers Government probe death of two-year-old pupil in Wisdom Gate International School, shut academic activities Indefinitely

    Rivers Government probe death of two-year-old pupil in Wisdom Gate International School, shut academic activities Indefinitely

    Nigeria military suffers fresh casualties after losing a Commanding officer, six soldiers in Borno

    Nigeria military suffers fresh casualties after losing a Commanding officer, six soldiers in Borno

    His continued incarceration  a source of pain for Ndigbo, Ohanaeze says in a renewed call for Kanu release

    His continued incarceration a source of pain for Ndigbo, Ohanaeze says in a renewed call for Kanu release

    Trump: Iran’s new supreme leader alive but ‘damaged’

    Iran has undergone ‘regime change’, says Trump

    For daring the ruling class, Nigeria military dismisses soldier who urged children of the elites to join fight against bandits

    For daring the ruling class, Nigeria military dismisses soldier who urged children of the elites to join fight against bandits

    Dangote refinery raises petrol price for the fifth time in March from N774 to N1275 per litre

    Dangote refinery raises petrol price for the fifth time in March from N774 to N1275 per litre

  • Metro News
    FCT NAWOJ demands justice for women

    FCT NAWOJ demands justice for women

    FCT suspends riders, drivers  levy over multiple taxation complaints

    FCT suspends riders, drivers levy over multiple taxation complaints

    Wike nullifies 485 R of O applications over fake allocation papers

    Wike nullifies 485 R of O applications over fake allocation papers

    FCTA begins crackdown on  1,095 abuja properties over non-payment of statutory charges

    Wike has met 10 out of 14 workers demands, says aide

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    FCTA workers announces indefinite strike over tenure elongation of retired perm sec, directors ,others

    FCTA workers announces indefinite strike over tenure elongation of retired perm sec, directors ,others

  • Latest News
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    • Crime watch
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    Dangiwa breaks silence after he was sacked as housing minister

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    Tinubu removes Dangiwa, Edun as ministers in a minor cabinet reshuffle

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    JAMB releases Monday’s UTME results

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    Senate approves restoration of Aniocha North II State Constituency, Delta

    Bill mandating social media platforms to have physical office, records of employees pass second reading at the Senate

    Nigeria investigated  213 privacy breaches in 2024-NDPC

    Nigeria investigated 213 privacy breaches in 2024-NDPC

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    Gov Otti to immortalise 1929 Aba Women’s Riot heroines

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Naira depreciation: Vehicle importation drops by 60.8%

Daily Intel Newspaper by Daily Intel Newspaper
July 26, 2024
Naira depreciation: Vehicle importation drops by  60.8%

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The number of vehicles imported into the country has fallen by 60.4 per cent, a quarterly meeting report of the Nigerian Port Consultative Council, NPCC, has stated.

The report said “Vehicle Traffic showed only a total 10,991 units of vehicles was handled during the period under review, indicating a drop of 60.8 per cent from 28,024 units in 2023.”

Similarly, the number of ships that called at the nation’s seaports fell by 4.3 per cent to 251 in H1’24 from 275 in H1’23.

But despite the drop in vessel calls, the Gross Tonnage of ships rose 6.9 per cent to 32.614 million metric tons in H1’24 from 30,504, 276 in H1’23

The report added that “The cargo throughput, excluding crude oil, stood at 21.186 million metric tons against 18.234 million metric tons in 2023 indicating an increase of 16.1 per cent.

“Inward cargo traffic reached 13.563 million metric tons representing a 10.5 of cargo throughput in 2023. Outward cargo traffic was 7.6234 million metric tons, representing 27.7 per cent.

“Container traffic for the period under review stood at 398,447 between January and June showing an increase of 2.3 percent from 389,303 Twenty Foot Equivalent Units, TEUs handled in 2023.

“A further analysis of container traffic revealed that import containers accounted for 3.4 per cent with 198,415 TEUs while export container traffic stood at 195,106 TEUs representing a decrease of 1.2 percent of total container traffic.

“A breakdown of export container traffic revealed that empty containers accounted for about 36.3 per cent of total export container traffic. The average turn-around time of vessels was 4.6 days, compared with 5.1 days in 2023. The significant improvement in average turn-around time for vessels was brought about by the impact of the Lekki Deep Sea Port which achieved an average turn-around of only one day.

“The increase in Gross Registered Tonnage, GRT, despite the drop in the number of vessel calls revealed the berthing of bigger vessels, especially at Lekki Port where the average GRT of vessels is 3,801,191. This further gives credibility to the importance of a deep seaport to the Nigerian maritime or port development.

“Therefore, the collective efforts of all stakeholders are required to ensure that Lekki Deep Seaport does not suffer the same fate as Apapa for ease of cargo evacuation.”

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