A recent study has revealed that Nigeria’s ports rank as the most expensive for cargo clearance in West Africa, with costs skyrocketing to 179% more than those at neighboring ports in countries like Ghana, Togo, Benin Republic, and Côte d’Ivoire. This disparity is raising concerns within the region’s logistics and trade sectors.
According to guardian.ng, data from the Sea Empowerment Research Centre highlighted that Nigeria’s ports clearance fees ranged from $2,500 to $5,000 per Twenty-Foot Equivalent Unit (TEU), compared to $600 to $2,100 in neighbouring countries, like Ghana, Benin Republic, and Côte d’Ivoire.
Data gathered by The Guardian shows that the total cost of clearing cargo in Nigeria ranges between $2,500 and $5,000 per TEU, in contrast with the costs of between $1,000 and $2,100 in Ghana; $800 and $1,600 in Côte d’Ivoire; and $600 and $1,200 in the Benin Republic.
A breakdown of the costs in Nigeria per TEU shows clearance fees ranging from $1,500 to $3,000; demurrage and storage costs from $500 to $1,000 and transportation and logistics costs from $500 to $1,000.
In Ghana, clearance costs range from $500 to $1,000, demurrage and storage between $200 and $500, and transportation and logistics between $300 and $600 per TEU.
In Côte d’Ivoire, clearance costs range from $400 to $800, demurrage and storage between $150 and $300, and transportation and logistics between $250 and $500.
Meanwhile, in the Benin Republic, clearance costs range from $300 to $600, demurrage and storage between $100 and $200, and transportation and logistics from $200 to $400.
Data from the Sea Empowerment Research Centre raised concerns that the high cost of cargo clearance at Nigerian ports is leading to the diversion of cargo to neighboring ports in Ghana, Togo, Benin Republic, and Côte d’Ivoire, thereby increasing their revenue.
In its 2024 Third Quarterly Bulletin, signed by its Head of Research, Dr Eugene Nweke, the Centre lamented that these high costs were making Nigerian ports less competitive and might discourage investors and shippers from using them.
The Chief Executive Officer of the Centre for the Promotion of Private Enterprise (CPPE), Dr Muda Yusuf, expressed concern that the high cost of clearing cargo at Nigeria’s seaports negatively impacted businesses and worsened the cost of living in the country.
