The Nigerian Shippers’ Council has said that its interventions saved port users ₦2 billion in 2023, reinforcing its push to reposition Nigeria’s maritime sector for greater efficiency and global competitiveness.
At an interactive forum in Abuja themed “From Port to Prosperity: Enhancing Trade and Investment Opportunities”, the Council disclosed that its Complaints and Legal units also secured ₦773 million in savings in the first quarter of 2024.
The event brought together key regulators and stakeholders, including the Nigeria Customs Service, the Central Bank of Nigeria, ECOWAS and the African Continental Free Trade Area, with discussions focused on eliminating port bottlenecks and aligning operations with national economic goals.
Speaking on behalf of the Minister of Marine and Blue Economy, the Director of Maritime Services said the ministry was shifting from revenue-driven port operations to a competitiveness-focused model, anchored on full digitalisation to reduce cargo dwell time and meet global benchmarks.
The Executive Secretary and Chief Executive Officer of the Council, Dr Pius Akutah, stressed that sustained collaboration between shippers and regulators was vital to securing the industry’s future.
The Nigeria Customs Service highlighted progress under its partnership with the Nigerian Ports Authority and the Nigerian Maritime Administration and Safety Agency. It said more than 70 operators have migrated to its Authorised Economic Operator scheme, cutting cargo clearance time from about 168 hours to under 48 hours.
The Central Bank reiterated export repatriation timelines of 90 days for oil and 180 days for non-oil exports, and confirmed its transition to the National Single Window platform to eliminate inefficiencies linked to manual data reconciliation.
Private sector stakeholders pointed to funding constraints across the maritime value chain, proposing commercial papers and asset-backed financing to ease dollar liquidity pressures.
The Council also announced the harmonisation of terminal charges, reducing 34 fees to five standard categories, and said it was pursuing legislation to transition from a presidential mandate to a statutory economic regulator.