Do you know the implications of the Apapa gridlock on the economy? It has cost the country a whooping N6 trillion! Find out who says so and its validity!
Nigeria has lost an estimated N6 trillion in various sectors of the economy as a result of challenges posed by the infamous Apapa gridlock. This was stated by the Organized Private Sector (OPS) last Tuesday, July 16, 2019, during its 62nd Annual General Meeting in Lagos.
Under the umbrella of the Nigeria Employers’ Consultative Association (NECA), the OPS unanimously highlighted the urgency for reformation of policy in order to create an enabling environment for businesses to thrive.
Second Vice President, NECA, Mr Mauricio Alarcon, disclosed that, despite the Presidential Executive Order aimed at promoting efficiency and transparency in operations, one year after, the challenges presented by the gridlock at the port were still visible.
Survey by the OPS shows that Nigeria lost about N3.06 trillion on non-oil export and about N2.5 trillion earnings annually across the different sectors due to the Apapa gridlock.
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The trucks make movement of humans and goods in the area impossible
The Vice President further called on the Federal Government to examine reforms that have the capacity to bring about positive changes in the economy. He also appealed to the Federal Government to remove subsidy on patrol, which according to him, takes close to N1 trillion every year.
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Also present at the event was the International Relations Unit of the Nigeria Labor Congress (NLC) Chairman, Mr Uche Ekwe. Representing the NLC president Ayuba Wabba, Ekwe said it was important for NECA and labor to come together in resolving economic issues. He also spoke on the need for wealth creation in the country but stressed that this might not exactly eradicate poverty due to population increase.
TUC President, Mr Quadri Olaleye, urged the government to create employment opportunities in order to combat insecurity, poverty and other vices troubling the country.
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