Except the Federal Government reviews its economic policies, increase manufacturing activities and provide conducive environment for export, Nigeria’s industrial warehouse space may continue to nosedive, stakeholders have warned.
“More than 30 per cent of businesses situated around Apapa, Tincan and Snake Islands either reduced operations or shut down activities due to the Apapa gridlock resulting for the bad roads and lack of proper transport management of the trucks entering and exiting the Apapa seaport. In Port Harcourt, Rivers State, warehousing has been attractive to investors due to 95 per cent occupancy rate. An investor would hardly find a vacant warehouse space in the Trans-Amadi, which is an industrial hub.
According to him, notwithstanding the fact that Ogun State has the largest number of industries in Nigeria, the demand has nosedived compared to what happened in the past.