Shipping companies, freight forwarders and other port users have raised concerns over the potential impact of the ongoing crisis in the Middle East on cargo throughput into Nigerian ports.
They warned that the situation could also worsen Nigeria’s inflation if the conflict in the region persists.
Speaking with Vanguard on the development, Chairman of the Shipping Association of Nigeria (SAN), Boma Alabi, said the crisis in the Middle East has already begun to affect the shipping industry and is likely to continue doing so.
Alabi noted that the situation is driving up operational costs as insurance premiums and other related expenses rise, largely due to the closure of the Strait of Hormuz and heightened security concerns around the Red Sea and the Suez Canal.
She said: “It has definitely impacted already and will continue to impact. There are increased costs as insurance and other expenses escalate due to the closure of the Strait of Hormuz and the heightened security issues around the Red Sea and the Suez Canal.
