Maritime Agents Report Sharp Decline in Nigeria’s Imports Ahead of Christmas

As the Christmas season approaches, licensed agents in Nigeria’s maritime sector have reported a significant slowdown in import activities, with declines ranging from 40 to over 50 per cent. Some industry insiders estimated drops as high as 80 per cent, while others suggested a reduction of 63 to 70 per cent.

In separate interviews on Sunday, former interim National President of the Association of Nigerian Licensed Customs Agents, Mr. Pius Ujubuonu, attributed the slowdown to multiple factors, including foreign exchange constraints, poor planning, and inconsistent government policies.

“No doubt, there is a reasonable drop in cargo throughput. As of August, the decline was about 62 to 65 per cent, and it may have worsened to 65–70 per cent in the following months,” Ujubuonu explained. He stressed that import trends reflect decisions made months earlier, and warned that importation could fall further if current challenges persist.

Emeka Okonkwo, former Secretary-General of the National Association of Government Approved Freight Forwarders, agreed that importation has slowed but argued the decline is less severe than some claims. “Importation has dropped, but not up to 80 per cent. A more realistic range is 40 to 50 per cent. Limited liquidity and reduced consumer demand have left goods unsold in warehouses, affecting further imports,” he said.

Similarly, Mr. Ugochukwu Nnadi, a member of the Elders of Maritime Agents and Associations, confirmed a slowdown, noting that ports now handle fewer ships compared to previous years. “Costs of doing business are high, and uncertainties around government tax policies have made importers cautious. We are seeing over an 80 per cent drop compared to previous years,” Nnadi added.

In contrast, the National President of the Africa Association of Professional Freight Forwarders and Logistics of Nigeria, Mr. Frank Ogunojemite, disputed the reports of a decline. “There is no drop in importation. On the contrary, importation has increased, as indicated by rising freight charges from China to Nigeria,” he said.

The slowdown in importation is also reflected in Nigeria’s automobile market. National Bureau of Statistics data show passenger car imports fell sharply in the first half of 2025, totaling N479.26 billion—a 9.7 per cent decline from N530.67 billion in the same period in 2024. The downward trend has persisted since 2023, driven by foreign exchange constraints, high import duties, and reduced consumer purchasing power.

Analysts warn that unless fiscal and trade policies are stabilised, both household and business access to imported goods, including vehicles, may remain constrained in the coming months.