Nigerian Concept Of Bonded Warehouses And Dry Ports

Abstract

This is a historical and structural analysis of the Nigerian concept of bonded warehouses and Inland Container Depots (ICDs).. The bonded warehouse in Nigeria is a strategic expansion of ordinary warehouses that are usually developed in the ports and related cities, strictly meant for safe-keeping of cargoes for owners before final take-over by consignees after payment of some customs duties. A bonded warehouse and ICDs are seen as mini-ports or an extension of a port, where usual ports operations take place. A custom bonded warehouse is a building or other secured areas in which dutiable goods may be stored, manipulated or undergo manufacturing operations, customs inspections while examinations are carried out and correct duties paid. This paper will attempt to x-ray the socio-economic justifications of the establishment of bonded warehouses and ICDs in terms of increased productivity, cargo-throughput, efficiency and development of the society at large.

Keywords: Bonded warehouse; dry ports; congestion; policy inconsistency

JORIND Vol. 6 (1) 2008: pp. 5-5