Shipping, other sectors count losses to lockdown

By Christian Joseph Wariaye   1 week ago   59
Business - Top Stories

OPERATORS in various sectors of the economy are still counting their losses to the lockdown occasioned by the coronavirus, COVID-19 pandemic with the shipping sector estimating loss so far at N500 billion.
Vice President of the Association of the Nigeria Licensed Customs Agents, ANLCA, Mr. Kayode Farinto, who disclosed this while speaking to Vanguard Maritime Report, expressed worry that the COVID-19 pandemic may lead to about 35percent of work force losing their jobs, post-COVID 19.He said: “We have lost a lot of money, because the import from China stopped and about 65 percent of our imports comes from China so it has reduce our level of importation by 65percent. So the import is nose diving and unfortunately there is no encouragement from the government because the implementation of waiver on storage fee is zero.
“We have a situation now where our importers believe that we are thieves saying after all the government said they should waive demurrage. We have lost a lot of money that can’t be less than N500 billion in the last two months. And I am also seeing a situation where the work force in the maritime industry may reduce by 35 percent. I have spoken to about five shipping companies and they said 50 percent of their workforce has been asked to stay at home in line with the guidelines of the COVID-19 pandemic. Some of them actually said they don’t know if they can work with 50 percent work force meaning that post COVID-19 a lot of people will lose their job.”

[NewsNaira]



Share this article!



Login to comment and earn


Ema Anas
1 week ago

Lucky to be the first commentor 


(Quote) (Likes)
Oyaboade Taiwo
1 week ago

Of course that’s it 


(Quote) (Likes)

Rrdffwghsjshejdhdbd


(Quote) (Likes)

Sorry for them oo


(Quote) (Likes)
Ugbaje Hillary
1 week ago

Losses to lockdown


(Quote) (Likes)

This is bad news


(Quote) (Likes)

That's really corona fever 


(Quote) (Likes)
Stanley
1 week ago

It is a bad news


(Quote) (Likes)

That's so sad


(Quote) (Likes)

It is like that


(Quote) (Likes)
Chibueze
1 week ago

Trouble the lockdown restrictions the lockdown


(Quote) (Likes)

Take heart guys.


(Quote) (Likes)

Poor economy


(Quote) (Likes)

Rrrrywyshshshs


(Quote) (Likes)
Great Joshua
1 week ago

Hkkbxsa app cm MX doz six ah ah el cl in K ox Zn


(Quote) (Likes)

What is News₦aira Income Program(News₦IP)

  • News₦aira Income Program (News₦IP) is a system aimed at raising revenue for registered users that browse the NewsNaira Website. An online program driven by a goal of solving the financial problems among the youths, students, middle class and whoever wishes to take advantage of earning opportunity and making money online legitimately in Nigeria as it creates the channel for participants to earn residual income on weekly basis.
more

How News₦IP Works

  • News₦aira has 2 means of generating income for our members.
    News₦AP: NewsNaira Affiliate Program - With News₦AP, participants earns ₦1,000 whenever they refer anyone to join NewsNaira Income Program. There is no limit to how many people you can refer.

    News₦ARS: NewsNaira Ad Revenue Sharing - With News₦ARS, participants earns residual income bonus by reading news, commentting on articles, publishing forum posts, daily login to their NewsNaira account, and even sharing assigned sponsored post on social media.

    We share our ads revenue with you weekly when you make NewsNaira community your news and information household.
more