The Shipping Association of Nigeria has stated that excess dollar charges in the nation’s maritime sector are worrisome.

The Chairman of SAN, Mrs Boma Alabi, a Senior Advocate of Nigeria, stated this over the weekend during a press conference at Lagos Yacht Club in Victoria Island.

She stressed that most of the challenges in the country, especially in the maritime sector, are hinged on the disparity between the naira and the US dollar.

Alabi, who is also the president of the Shipping, Shipping Agencies, Clearing and Forwarding Employers Association, said the constant demand for the dollar for transactions is depleting.

According to her, this is hinged on the disparity between the naira and the dollar exchange, “because they are collecting in dollars; yes, they are collecting in dollars, and ultimately, it is depleting.”

“Stop dollarising our economy. Why are you collecting in USD in Nigeria? Why is the Nigerian government collecting in USD? The shipping lines will collect payment in naira; they will source dollars to buy,” Alabi said.

The SAN chairman also called for expansion of the ports, reasoning that ports could not be competitive if the cost of doing business was high.

Earlier, the Deputy Managing Director of CMA CGM Shipping Company, Mr Ramesh Saraf, pleaded with the government to support them to remain in business.

Saraf said that Meridian Ports Service Ltd., owner of Terminal C in Tema Port in Ghana, recorded 1.9 million twenty-foot equivalent units that called at the terminal in 2024, while 1.2 million TEUs called at Nigerian ports in 2024.

He said that lower port charges would attract more cargo to Nigerian ports.

“Lekki Deep Sea Port started operation in April 2023 with less than half the capacity of cargo, and now less operation is taking place at the port.

“The cost of operation in Lekki Deep Sea Port is triple the port charges in other ports across the world,” Saraf said.