Coronavirus:  Port Regulators, Stakeholders  Face Loss of Revenue

Regulators and stakeholders in the maritime sector are at the risk of revenue loss due to the menace of the dreaded disease called Coronavirus especially now the country has recorded its first case.

The industry foremost regulators, Nigerian Ports Authority (NPA), the Nigerian Maritime Administration and Safety Agency (NIMASA) and Nigerian Customs Service (NCS) as well as other stakeholders would be severely dealt a heavy blow especially in their drive for revenue generation due to drop in import traffic.

The Tin-Can Island Area Controller, Comptroller Musa Abdullahi, during a forum expressed fears that the command might not meet its revenue target for 2020 due to the outbreak of Coronavirus.

He noted the impart is already causing a decline in the volume of imports into the country.

“The outbreak of the coronavirus has yet to affect the revenue generation of my command, but we have concerns that the dwindling cargo traffic from China would ultimately hamper the revenue of the command,” he said.

The command had set a N504 billion target for 2020 prior to the coronavirus outbreak but now feels such may not be achievable.

Meanwhile, the Managing Director, Nigerian Ports Authority (NPA), Ms. Hadiza Bala-Usman during a book launch on Friday in Lagos disclosed the Apex regulator had put in place necessary tools at the ports as standard measures to safeguard operators against the dreaded Coronavirus disease.

She explained that once a vessel carrying a yellow flag is sighted by the harbor master, port health will be immediately notified.

She posited the agency is aware of the virus and had been in several meetings with the Federal Ministry of Health in that regard.

She pointed out that NPA would continue to monitor and sensitize people, as it was a very serious issue.

“NPA is very mindful of its responsibility as the gateway to the nation’s economy and will do everything possible to protect the economy,” she said.

A research by Oxford Economics stated that coronavirus could cost the global economy more than $1tn in lost output if it turns into a pandemic.

It also warned that the spread of the virus to regions outside Asia would knock 1.3 per cent off global growth this year, the equivalent of $1.1trillion in lost income.

A stakeholder and port operator, Mr. Segun Musa during a telephone chat, said revenue would drop between 20-30 per cent because about 80 per cent of informal goods come from China.

“China is the most affected country now and it has definitely affected traffic from China coming to Nigeria, “he said.

He also noted that the formal sector especially the construction area like the railways and airports are being managed by the Chinese people, which will affect revenue with nothing less than 20-30 per cent.

Musa maintained the Govermnent at all levels in the country needs to be proactive now there is an outbreak in Nigeria.

“Government needs to be proactive about it at the point of exit and entry especially we that have land borders that are not manned.

“Those manned need to be strictly monitored and ensure that whoever is coming in and exiting must be properly checked, “Musa said