Nigerian govt announces 15% ports tariff increase

The Nigerian government, through the Nigerian Ports Authority, NPA, has announced a 15 percent tariff increase, the first in 32 years.

According to the Nation, NPA managing director Abubakar Dantsoho disclosed this on Thursday in Lagos during the stakeholders’ engagement.

He noted that the 15 percent ports tariff increment is across the board.

Represented by the Executive Director of Marine and Operations, Olalekan Badmus, Dantsoho explained that the agency had maintained the same rates for over three decades despite significant economic changes, including exchange rate fluctuations, rising wages, fuel and lubricant costs, and inflation.

This comes weeks after the Nigerian Communications Commission approved a telecommunications tariff hike capped at 50 percent.

Meanwhile, Nigerians and financial experts have criticised the Nigerian government’s revenue-driven posture at the expense of citizens’ welfare as economic hardship worsens.