The Maritime Researchers and Authors Association of Nigeria (MARASSON) has warned that the year holds a bleak future for the maritime industry, especially as 2023 witnessed poor import and export.
The research group stated that Nigeria is gradually sinking as the current economic challenges demand a total liberalisation of trade.
The National Secretary, MARASSON, Ajanonwu Vincent, who sent the group’s economic outlook for the maritime sector to The Guardian, said the direction of the naira holds no hope for international and local traders, adding that the political elite gives little hope.Â
He said the deliberate war on trade by the previous Customs administration is still affecting the psyche of the international traders as many of them have gone out of business in the country.
Vincent noted that the current administration’s penchant for higher revenue collection without looking at the effects on the masses has consequences for importers and exporters.
He pointed out that the continuous hike in tariff bands and some customs comptrollers’ zeal to exceed their targets were discouraging trade, adding that the Customs Service has abandoned trade facilitation for revenue mobilisation.
Vincent said, although, the global economic recession, COVID-19 pandemic, anti-trade policies, oppression and suppression of international trade based on political and parochial sentiment are the real enemies of the 2024 trade projections.
For trade to thrive in 2024, he said, the federal government needs to pay attention to trade challenges, dialogue with real stakeholders to identify their problems and restructure the current operational patterns that have created a room for self-enrichment.Â
