The Director General of the Lagos Chamber of Commerce and Industry (LCCI), Dr Chinyere Almona, has expressed deep concern over increasing costs of doing business, saying the recent 15 per cent upward review in port tariffs by the Nigerian Ports Authority’s (NPA) will raise operational expenses.

Acknowledging that it is the first adjustment since 1993, Almona said the convergence of a high interest rate at 27.5 per cent, high inflationary pressure, a weak naira and a reduced per capita income at a low of $835 imposes a heavy burden on businesses.

“While the proposed tariff increase by the NPA aims to modernise port facilities, it carries significant economic implications that must be addressed. One major concern is the increased cost of doing business, as higher port charges will raise operational expenses for companies relying on imported raw materials and machinery. This, in turn, would lead to increased production costs, which could be passed on to consumers, driving inflation upward.

https://guardian.ng/business-services/business/lcci-flays-rising-cost-of-doing-business/