Business Trends & Strategies, Economy & Finance

Economic Decline Hits Apapa APM Terminals, Workers’ Jobs On The Line

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Apapa in State, Nigeria’s busiest container terminal, might shed its staff strength due to the steep drop in imports as global oil prices fell 50 per cent in last one year and reduced government’s revenue.

This was disclosed by Austine Fischer, the General Manager of Communication and Sustainability of , Nigeria in on Wednesday

According to Fischer, the effects of global price of oil falling from $114 per barrel in 2014 to less than $50 a barrel in October 2015 had affected the negatively.

He said this had been having impact on staff requirements at the terminal.

“With cargo volume down 30 per cent compared with a year ago and even after extensive cost-cutting measures, we are unfortunately being forced to reduce our staffing, he said.

“This is in view of the business realities of the current economic environment.”

According to the statement made available to newsmen in Lagos, APM Terminals’ Head of Human Resource, Bunmi Pratt, said employment by the terminal, which began operations after a privatisation initiative in 2006, had risen.

Pratt said employment had risen during the past 10 years from 467 to approximately 1,000 in 2015.

The statement quoted Pratt as saying: “A sharp drop in demand for consumer goods has been particularly acutely felt at APM Terminals Apapa, which handles over half of all Nigerian imports.

“Respect and compassion for all are the very foundation of our business model.”

 

 

Source: NAN.

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