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Vehicle Imports Dropped By 60.8% in First Half Of 2024

POSTED ON July 26, 2024 •   BUSINESS & ECONOMY      BY Abiodun Saheed Omodara
Vehicle Importation

The recently concluded quarterly meeting of the Nigerian Port Consultative Council (NPCC) reported a significant decrease in vehicle and ship traffic. 

The report indicated a 60.8% drop in the handling of vehicles, with only 10,991 units compared to 28,024 units in 2023. 

Similarly, the number of ships calling at the nation’s seaports fell by 4.3% to 251 in H1’24 from 275 in H1’23. 

Despite this, the Gross Tonnage of ships increased by 6.9% to 32.614 million metric tons in H1’24 from 30,504,276 in H1’23. 

Cargo throughput, excluding crude oil, also saw an increase of 16.1%, reaching 21.186 million metric tons in H1’24 compared to 18.234 million metric tons in 2023. 

Inward cargo traffic accounted for 10.5% of the total cargo throughput, while outward cargo traffic represented 27.7%. 
Container traffic between January and June showed a 2.3% increase to 398,447

Twenty Foot Equivalent Units (TEUs) from 389,303 TEUs in 2023. 

Import containers accounted for 3.4% with 198,415 TEUs, while export container traffic decreased by 1.2% to 195,106 TEUs. Empty containers made up 36.3% of total export container traffic. 

The average turn-around time of vessels improved to 4.6 days from 5.1 days in 2023, attributed to the impact of the Lekki Deep Sea Port.

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