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    Police promotes  seven AIGs to DIGs

    Police promotes seven AIGs to DIGs

    BREAKING: Iran’s supreme Leader Ali Khamenei confirmed dead

    Iran state media confirms Ayatollah Ali Khamenei death

    Nigeria reopens Benin Republic, Niger boarder with Kebbi

    Fastrack state police legislation, Tinubu urge Senate

    Senegal pushes for stiffer punishment for same-sex offenders

    Senegal pushes for stiffer punishment for same-sex offenders

    Ex-NRC boss Fidet Okhiria remanded over alleged $385,000, N165.5m fraud

    Ex-NRC boss Fidet Okhiria remanded over alleged $385,000, N165.5m fraud

    JUST IN: Tinubu directs Civil Defence to take over the protection of VIPs, orders withdrawal of police personnel 

    How Tinubu’s administration paid billions of naira for the release of Niger State kidnapped schoolchildren

  • 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

    FCTA removes 607 beggars, mentally challenged from Abuja streets

    FCTA removes 607 beggars, mentally challenged from Abuja streets

    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

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    Stealing: Appeal Court upholds conviction of ex-Army General, orders refund of over N4bn

    Stealing: Appeal Court upholds conviction of ex-Army General, orders refund of over N4bn

    FCT NAWOJ demands justice for women

    FCT NAWOJ demands justice for women

    Iran President apologises to neighbouring countries for attacks

    Iran President apologises to neighbouring countries for attacks

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    DRC conflict: US imposes visa restrictions on Rwandan officials for sponsoring M23

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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

  • World conflict & diplomacy
    Iran President apologises to neighbouring countries for attacks

    Iran President apologises to neighbouring countries for attacks

    BREAKING: Iran’s supreme Leader Ali Khamenei confirmed dead

    Iran state media confirms Ayatollah Ali Khamenei death

    US evacuates citizens from Israel as tension with Iran peaks

    US evacuates citizens from Israel as tension with Iran peaks

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    US designates muslim brotherhood in Lebanon, Jordan and Egypt as terrorist groups

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    Ukraine War: Trump backs new sanctions on Russia

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    Christian genocide: US troops arrives Nigeria

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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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