The Minister of Transportation, Rotimi Amaechi, on Tuesday said that the preponderance of human contacts hinders efficiency at the nation’s seaports.
“You move in your goods and take it out in 24 hours and this makes the ports more competitive than keeping goods for 40 days.
“When you compare Nigerian economy with the economy of other countries, you have to look at the factors of production.
“If those factors of production are cheaper in those countries, then the cost of goods in those countries will be cheaper than the cost of shipping goods there.
“It also includes seaports. If the seaport activities are costly, it will be less competitive,” Amaechi said while speaking with journalists.
He said that people were rushing to Dubai to ship in goods into many countries because it operates mostly on zero cost.