Structure tariffs to stimulate Competition, growth – Ihenacho urges gov’t

Capt. Emmanuel Ihenacho

 

The Chairman, Genesis Worldwide Shipping, Capt. Emmanuel Ihenacho advised on Wednesday, the need to ensure that Tariff and Rate on cargo clearance are necessarily structured to create proper competition, for greater efficiency in the maritime industry.

Ihenacho indicated this, alongside other experts during the Maritime Business Round Table Breakfast Meeting, organised by ZOE Maritime Resources Ltd, on “Tariffs and Rates As Stimulants of Growth for the Nigerian Economy” held in Lagos.

Ihenacho posited that, in business, one incurs cost to deliver goods and make profit; while tariff belongs to different categories in international trade chain.

“Tariff is usually designed by government to achieve certain purposes. Sometimes, tariffs are applied on imported goods to encourage local industries and create jobs

“At the end of the day somebody has to bear the loss. it is the consumer.

“In applying a tariff, there is need for one to check the cost and benefit and strike a proper balance to enable Nigerian ports operators get what should be derived from the economy,” Ihenacho said, condemning the idea of a uniform Tariff structure, being operated by ports managers in the West and Central African Region.

He said tariff should be structured to create proper competition to enhance port efficiency.

The former Minister of the Interior, urged government agencies to ensure competition among shipping operators to make Nigerian ports remain competitive and be the preferred destination for port users.

Ihenacho called for the automation and overall improvement of ports infrastructure, stressing the need for government to make other ports functional.

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