Traffic bottleneck caused by trucks on Apapa roads leading to Lagos seaports is causing Nigerian exporters $2 billion annually.
Adeyemi Adeniji, CEO, Starlink Global and Ideal Limited, revealed this to newsmen on Thursday, in Lagos.
He said the Oshodi-Apapa Road required urgent palliatives, noting that the emergency fixing of road should be done within 14 days to allow for easy access to the port while the core repairs go on.
He said farmers would produce but exporters would not be able to export and meet their contractual agreements.
This, he said, might lead to the country being blacklisted in the international community.
“Farmers will increase production but exporters will not be able to export and meet their contractual agreements, then we are going to be blacklisted in the international community.
“It is going to dent the image of the country further, because it is already bad and it is going to make it worse.
“Also, what we are supposed to repatriate in funds, we will not be able to do it.”
Adeniji further said the country loses about $2 billion annually due to the state of the road and that currently the country is likely to also lose another $500 million within this short period.
He said if it continues for another one month, the loss would be massive.
Also speaking at the press conference tagged, ‘Nigeria’s Economic Diversification Under Threat’, Tola Faseru, President of National Cashew Association of Nigeria (NCAN), said export commodities which include cashew nuts, cocoa, sesame seeds, ginger, hibiscus, shea nut, gum Arabic and many others are all perishable and if not shipped on time would perish, causing great loss of income, livelihood and export revenue for both exporters and the nation.