Nigerian Shippers' Council Saves Businesses N90.6bn, $1.35m Through Regulatory Interventions

The Nigerian Shippers' Council (NSC) says its regulatory interventions and dispute resolution efforts have protected Nigerian shippers and the national economy from losses exceeding N90.6 billion and $1.348 million, underscoring its growing role in promoting fair commercial practices across the country's maritime sector.

Executive Secretary and Chief Executive Officer of the Council, Dr. Akutah Pius, disclosed this during a media engagement with maritime editors and reporters in Lagos, where he highlighted the agency's recent achievements in safeguarding importers, exporters and other port users from excessive charges.

Represented at the event, Pius said the Council prevented N86.06 billion in what it described as unjustified demurrage payments while securing an additional N4.54 billion and $1.348 million in savings through regulatory interventions and alternative dispute resolution mechanisms.

According to him, the interventions have helped reduce the financial burden on businesses operating within Nigeria's ports while improving confidence in the country's maritime regulatory framework.

"The Council protected over N90.60 billion and $1.348 million in economic value for Nigerian shippers and the national economy," he said.

Pius also disclosed that the Council received 558 complaints from port users during the review period and successfully resolved 295 commercial disputes involving issues such as container deposits, demurrage, detention charges, terminal charges, cargo claims and export-related fraud.

He added that the Council secured several out-of-court settlements involving APM Terminals Nigeria Limited, CMA CGM and Maersk Nigeria Limited over charges collected above approved tariffs.

As part of ongoing reforms aimed at improving efficiency and transparency within the port system, Pius said the Council harmonised bonded terminal invoice charges by reducing billing categories from 18 to six, a move expected to simplify port charges and improve transparency for businesses.

He said terminal operators have also been directed to publicly display their approved tariffs, while shipping companies are now required to establish holding bays outside the ports to facilitate the return of empty containers and reduce congestion within port corridors.

The NSC boss further revealed that the proposed Nigerian Port Economic Regulatory Agency Bill has been passed by both chambers of the National Assembly and is awaiting presidential assent.

According to him, once signed into law, the legislation will strengthen economic regulation across Nigeria's ports by enhancing tariff oversight, improving service standards, promoting healthy competition and ensuring greater accountability in commercial activities.

Pius noted that the Council has also secured statutory funding under the 2025 Appropriation Act, positioning it to expand its regulatory responsibilities.

He added that the agency remains actively involved in supporting key trade facilitation initiatives, including the implementation of the National Single Window, the International Cargo Tracking Note and the expansion of Inland Dry Ports, all of which are expected to improve cargo movement, enhance trade efficiency and reduce the overall cost of doing business in Nigeria.

The Council said the reforms form part of broader efforts to modernise Nigeria's maritime sector, strengthen regulatory oversight and create a more transparent and competitive business environment for importers, exporters and investors operating through the nation's ports.