With refineries in Nigeria returning to productivity following successful turn-around maintenance, many tank farm owners are already putting up their facilities for sale.

Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Ibe Kachikwu disclosed on Wednesday that the Port Harcourt Refinery has commenced production of five million litres of premium motor spirit daily and that Warri will soon commence production.

Thus, importation of petroleum products has reduced drastically and may continue on the downward trend going forward.

President of the International Freight Forwarders Association, Dr. Sam Onyemelukwe in a chat with reporters in Lagos said traffic congestion caused in the Amuwo Odofin area of the state would soon ease off as a result of this development.

The IFFA boss further explained that some of the owners of these facilities are already looking ahead to the future and have put them up for sale.

He pointed out that the intervention of the Lagos state government has help to refuse the traffic situation along that route but noted that until “our refineries commence full product, the problem associated with the tank farms will continue.”

On the activities of terminal operators and shipping companies, Onyemelukwe said government should reassess the port concession regime because the scheme has not met the desired targets.

He pointed out that it is only in doing so that there would be reduction in capital flight, improve port efficiency and ensure maritime and shipping contributes maximally to national economy.

In his word, “The concessionaires allow delays and congestion in the terminals even as many dry docks (bonded terminal) are empty.

These bottlenecks in the system appear to be deliberate aimed at making cargoes attract huge rent charges. This development has increased rather than reduce cargo dwell time, hence leading to higher clearing costs for goods from Nigeria’s ports,” he concluded.