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    Don’t put your hope on Russia, China, wipe out terrorists and their sponsors, Adeboye tells Tinubu

    Don’t put your hope on Russia, China, wipe out terrorists and their sponsors, Adeboye tells Tinubu

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    Don’t put your hope on Russia, China, wipe out terrorists and their sponsors, Adeboye tells Tinubu

    Don’t put your hope on Russia, China, wipe out terrorists and their sponsors, Adeboye tells Tinubu

    US lawmaker slams Tinubu’s denial of Christian persecution in a resolution at the Congress

    US lawmaker slams Tinubu’s denial of Christian persecution in a resolution at the Congress

    Staff exits from Nigerian varsities worries N’Assembly

    Reps to present report on Plateau killings to Tinubu

    Court begs Kanu to enter defense, adjourns to Nov 7

    Court begs Kanu to enter defense, adjourns to Nov 7

    Germany bans Muslim group accused of advocating caliphate

    Germany bans Muslim group accused of advocating caliphate

    US War Secretary express readiness to attack Nigeria over killings and persecution of Christians in Nigeria

    US War Secretary express readiness to attack Nigeria over killings and persecution of Christians in Nigeria

  • Metro News
    Indefinite strike: FCTA has met 90% of resident doctors’ demands- official

    Indefinite strike: FCTA has met 90% of resident doctors’ demands- official

    Abuja neighbourhood protest conversion of green areas to estates

    Abuja neighbourhood protest conversion of green areas to estates

    Police discovers decomposing bodies of woman, two children in Abuja community

    Police discovers decomposing bodies of woman, two children in Abuja community

    Doctors in FCT commence warning strike, cite systemic failure, infrastructure decay, others

    Doctors in FCT commence warning strike, cite systemic failure, infrastructure decay, others

    Teachers, health workers strike,others:  Wike gets fresh ultimatum from FCT workers

    FCTA clears 1,000 shanties in Abuja district

    FCT set up committee to probe sales of FG houses, parks

    FCT set up committee to probe sales of FG houses, parks

  • Latest News
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    Syrian president makes first visit to US since toppling Assad

    Syrian president makes first visit to US since toppling Assad

    I did not accuse VP Shettima of creating Boko Haram-Sheriff

    I did not accuse VP Shettima of creating Boko Haram-Sheriff

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    Trending Tags

  • Infotech
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    Facebook set new monetization rules for creators who uses other people content

    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

    FG begins construction of emerging technologies Institute in Kano

    FG begins construction of emerging technologies Institute in Kano

  • World conflict & diplomacy
    US War Secretary express readiness to attack Nigeria over killings and persecution of Christians in Nigeria

    US War Secretary express readiness to attack Nigeria over killings and persecution of Christians in Nigeria

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    US War Secretary express readiness to attack Nigeria over killings and persecution of Christians in Nigeria

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    92-year-old Biya re-elected after 43 years in power

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    State police needed to end Plateau violence- Governor Mutfwang

    Deputy speaker Kalu lament  funding delay for Southeast development commission

    Kalu drums support for state police, says only solution to insecurity

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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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