Terminal operators task govt on FOREX

Seaport terminal operators yesterday appealed to the Federal Government to find permanent solution to the challenges they face in business, due to their inability to source for dollars through the official windows.

The operators, who made the call under the aegis of Seaport Terminal Operators Association of Nigeria (STOAN), explained that the difficulty was crippling their business.

The spokesperson for the operators, Bolaji Akinola, urged government to intervene urgently to save their business. Also, the STOAN chairman, Princess Vicky Haastrup said, “The terminal operators are unable to source dollars from the banks at the prohibitive rates of about N320 to one dollar in the parallel market.”

Lamenting the development, she said recent government policies, including the National Automotive Policy; the rice importation policy and the fish quota system, introduced by the past administration of former President Goodluck Jonathan, are hampering the operations of our members, as these policies have led to the diversion of cargoes away from Nigerian ports.

She stressed that “The resultant effect of this is the drop in cargo volume by more than 50 per cent in some terminals.”

Haastrup added that despite series of constraints and hurdles, “we have kept to our own side of the bargain and more than justified the confidence reposed in us by Nigerians and by the government.”

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