Clearing agents abandon land borders due to soaring charges and forex rates

Clearing agents abandon land borders due to soaring charges and forex rates

Many clearing agents who previously operated at the borders have abandoned land borders following the reopening ordered by former President Muhammadu Buhari, according to recent findings.

Buhari had ordered the reopening of some land borders for business in December 2020 after their closure in 2019.

However, the Chairman of the Seme Chapter of the National Association of Government Approved Freight Forwarders, Mr. Ekene Onyebuchi, revealed that containers coming from Cotonou to Nigeria were required to pay an additional transit charge of N2.1 million for a 40-foot container, in addition to shipping and terminal charges.

As a result, bringing goods through seaports has become more cost-effective than using land borders.

Many clearing agents have shifted their operations to seaports and other businesses due to the exorbitant charges imposed at land borders.