Nigerian Ex-Im, shipper group plan regional line

The Nigerian Export-Import Bank and Nigerian Shippers Council are collaborating to establish a regional shipping line, according to a report from the Lagos-based Vanguard newspaper.    The Nigerian Export-Import Bank (NEXIM) and Nigerian Shippers Council are collaborating to establish a shipping line, according to a report on the website of the Lagos-based Vanguard newspaper.
   The shipping line would trade in the West and Central Africa region and was proposed because of “high transportation costs and excessive transit time that makes intra-regional trade non-competitive and West African transport and logistics costs one of the highest in the world,” Vanguard reported.
   The Nigerian Export Promotion Council has estimated that “non-oil exporters lose over 30 percent of their export product value to the poor transportation system, especially in the course of movement of the products from the rural areas to seaports and exports,” according to a report last week from another Lagos newspaper, the National Mirror.