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TPM00061 - THE IMPACT OF FREIGHT FORWARDERS IN THE NIGERIA MARITIME INDUSTRY


ABSTRACT

Nigeria maritime industry as it is regarded as a profession that stands to be the vital link between exporter or shippers (seller of goods), the carrier (owner of the transport means that carries the goods), terminal operator, the haulage company, the shipping line, the bank and the consignee in the other hand. Problems faced by freight forwarders are numerous. Therefore, this study examined the major causes of delay of freight forwarding in Nigeria, freight documentation on ship turnaround and the effects of cargo diversion on profit margin.

However, Council for Registered Freight Forwarders of Nigeria was used in which fifty employees were sampled and stratified sampling techniques was adopted. that fraudulent practice still affects the business of freight forwarding in Nigeria. The analysis also, shown that inconsistence government policy has directly influence cargo diversion which in turn affects the profit margin. Furthermore, fraudulent practice is common among members in the port which result in an art of touting in the business. Changes in tariff affect the business thus leading to diversion of cargo to other neigbhouring countries which in turn affect the profit margin. Also government policy and financial constraints also mar the business of freight forwarding making it unproductive and lucrative for people to patronize.

The study concluded that freight forwarding is a lucrative business in which government policy and financial constraint are major factors impeding the growth of the business as there are changes of tariff. Fraudulent act hinders the productivity and growth of freight forwarding business. It was recommended that Government should set up a very reasonable monitoring unit to ensure that freight forwarders observe certain minimum standards, which is to sanitize the practice of forwarding activities, Nigeria Custom Service should be given all the support it requires to perform its statutory duties most especially in the areas of trade facilitation and collection of duties without distractions and inhibitions from the ministry or the other arms of government or agencies

Finally, Government should enforce the necessary sanctions on any illegal freight forwarder doing business in the port.