Lagos Chamber of Commerce decry state of ports' access roads

The Lagos Chamber of Commerce has raised concerns over the state of access roads leading to the Apapa and Tin-Can Ports in Lagos, warning of dire consequences for businesses if the issue is not promptly addressed. The Maritime Workers Union of Nigeria has threatened to shut down port operations nationwide in protest of the poor conditions of the crucial routes. Muda Yusuf, Director General of the Lagos Chamber of Commerce, emphasized the significant impact of the dysfunctional port access roads on businesses, citing escalating costs and delays in operations as the main repercussions. In a recent interview with CNBC Africa, Yusuf highlighted the far-reaching implications of the inadequate infrastructure, calling on the government to prioritize the restoration of the port access roads to improve the business environment and stimulate economic growth. Yusuf underscored the detrimental effects of the dilapidated port access roads on businesses, pointing out the exorbitant costs incurred due to delays in clearing cargo. He explained that prolonged waiting times for trucks at the ports have led to substantial demurrage expenses, which are ultimately passed down to consumers. Yusuf emphasized that the inefficiencies in the port operations are contributing to inflationary pressures, as businesses struggle to absorb the mounting expenses associated with the delays. Moreover, Yusuf raised concerns about the impact of the port gridlock on foreign direct investment (FDI) in Nigeria. He noted that the persistent challenges in accessing the ports have a negative effect on investor confidence, as the essential gateway to the economy remains plagued by infrastructure deficiencies. Despite recent improvements in oil prices and currency stability attracting foreign investors to the financial markets, Yusuf cautioned that the unresolved issues with the port access roads could deter potential investors from committing capital to the country. The Director General of the Lagos Chamber of Commerce lamented the government's failure to allocate adequate resources to address the critical infrastructure needs, despite the significant revenue generated from port activities. He called for urgent government intervention to alleviate the burdens on businesses and enhance the investment climate in Nigeria. Yusuf stressed that the remediation of the port access roads is paramount to fostering job creation, promoting economic development, and sustaining the recent positive momentum in the financial markets. As the debate intensifies over the state of the port access roads in Lagos, stakeholders are urging the government to expedite efforts to resolve the longstanding issue. The future of business operations and economic prospects in Nigeria hinge on the timely restoration of the essential infrastructure that facilitates trade and commerce. The Lagos Chamber of Commerce remains resolute in its advocacy for immediate action to revitalize the port access roads, safeguard business interests, and spur sustainable growth in the country's economy.