Numerous impediments are hampering the ease of conducting business in the maritime sector, including the high cost of clearing goods due to exchange rate fluctuations.
This concerning situation has left licensed customs agents disheartened, unsure of their next steps to provide for their families.
Some agents have become unemployed, while others, unable to cope, have opted to relocate to their villages to reduce living costs.
Research indicates that the extensive list of prohibited items in Nigeria is another challenge affecting practitioners in the maritime sector, limiting the variety of goods that can be imported.
A significant 60% of licensed customs agents in the maritime industry have transitioned to alternative professions, such as commercial motorcycling (okada riding), due to the adverse effects of the fluctuating exchange rate.
These operators believe that the Central Bank of Nigeria achieved greater stability during Godwin Emefiele’s tenure as the governor compared to the current administration.
Lucky Amiwero, the founder of the National Council of Managing Directors of Licensed Customs Agents, acknowledges the impact during Emefiele’s administration but emphasizes that the sector is now facing even more significant challenges.
Amiwero explains that the exchange rate under Emefiele was more stable for an extended period before experiencing gradual increases, unlike the current drastic fluctuations affecting both import and export.
Nnadi Ugochukwu, Deputy President of the National Association of Government Approved Freight Forwarders, notes that over 60% of licensed agents have left the job due to excessive taxation and challenges with the import prohibition list.
Despite these challenges, there are alternative avenues for licensed agents to explore. Ship chandelling, providing supplies for ships and seafarers, is a lucrative but overlooked sector.
Additionally, a shift towards exporting goods, trucking consultancy, assisting in car purchases, and car delivery services are viable alternatives for agents seeking stability and income.
These diversifications not only offer income for displaced agents but also contribute to revenue generation for the government.
