Terminal operators under the aegis of Seaport Terminal Operators Association of Nigeria (STOAN) have lamented the drop in their revenue generation due to the continuous depreciation of the naira, coupled with low import volume. The association claimed that the total income of its members has been significantly eroded by 58 per cent.

STOAN Chairman, Princess (Dr.) Vicky Haastrup said at the weekend that at the current exchange rate of the naira to the US dollar, Terminal Handling Charges (THC) have effectively been eroded by 58 per cent in value.