, said the port generated revenue of $1.2 billion in the first quarter of 2022. But a joint report by the Maritime Anti-Corruption Network , a global sea trade and shipping group, and the Lagos Chamber of Commerce and Industry said that Nigeria loses U.S.
$7 billion annually to corruption and inefficiency, according to Nigeria's daily The Vanguard and Business Week.Ports in Africa lose vast sums of money because of corrupt port officials, inefficiencies, and poor infrastructure, among others. Corruption has affected economic growth and slowed…
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