Nigerian Shippers’ Council Safeguards N90.6bn, $1.348m in Economic Value

The Nigerian Shippers’ Council (NSC) has successfully safeguarded over N90.60 billion and $1.348 million in economic value for Nigerian shippers, according to Executive Secretary and Chief Executive Officer Dr. Akutah Pius. This achievement stems from the council's dedicated regulatory interventions and dispute resolution efforts.

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Within the period under review, the Council protects over N90.60 billion and $1.348 million in economic value for Nigerian shippers and the national economy. This includes preventing N86.06 billion in unjustified demurrage payments and securing savings of N4.54 billion and $1.348 million through Alternative Dispute Resolution and regulatory interventions.

Key interventions included preventing N86.06 billion in unjustified demurrage payments and securing N4.54 billion and $1.348 million in savings through alternative dispute resolution and regulatory actions. The NSC also processed 558 complaints, resolving 295 commercial disputes related to container deposits, demurrage, detention charges, terminal charges, cargo claims, and export fraud. Out-of-court settlements were reached with APM Terminals Nigeria Limited, CMA CGM, and Maersk Nigeria Limited concerning charges exceeding approved tariffs.

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The Council receives 558 complaints and successfully resolves 295 commercial disputes involving container deposits, demurrage, detention charges, terminal charges, cargo claims and export fraud.

In terms of reforms, the NSC has harmonized bonded terminal invoice charges, reducing billing categories from 18 to six. Terminal operators are now required to publicly display approved tariffs. Additionally, shipping companies must establish holding bays outside ports to facilitate the return of empty containers and alleviate congestion. The Nigerian Port Economic Regulatory Agency Bill, passed by the National Assembly, is awaiting presidential assent and is expected to bolster tariff regulation, service standards, competition, and commercial conduct within Nigerian ports.

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The Council harmonises bonded terminal invoice charges by reducing billing categories from 18 to six. Terminal operators are directed to display approved tariffs publicly, while shipping companies are mandated to establish holding bays outside the ports to ease the return of empty containers and reduce congestion.

The council also continues to support the National Single Window, the International Cargo Tracking Note, and the expansion of Inland Dry Ports. These initiatives aim to enhance trade efficiency and reduce the overall cost of doing business in Nigeria, with the council securing statutory funding through the 2025 Appropriation Act.

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The Nigerian Port Economic Regulatory Agency Bill has been passed by both chambers of the National Assembly and is awaiting Presidential assent. The proposed law will strengthen tariff regulation, service standards, competition and commercial conduct across Nigerian ports.