Regulatory interventions: Shippers’ Council saves Nigeria’s economy of over N90 billion, others in two years
Regulatory interventions: Shippers' Council saves Nigeria's economy of over N90 billion, others in two years
The Nigerian Shippers’ Council on Saturday, said it saved the country’s economy of more than ₦90.60 billion and US$1.348 million for Importers and exporters in the past two years through regulatory interventions and dispute resolution.
The Executive Secretary, Dr. Pius Akutah, disclosed during a lunch with maritime editors and reporters on Saturday, 4 July 2026 in Lagos.
Akutah said the savings were achieved through regulatory interventions and alternative dispute resolution, including the prevention of over ₦86.06 billion in unjustified demurrage payments.
He added that the Council also secured an additional ₦4.54 billion and US$1.348 million through the resolution of commercial disputes.
According to him, the Council received 558 complaints and resolved 295 cases between the fourth quarter of 2023 and the second quarter of 2026.
Primarily, the Council’s boss said the interventions covered issues such as container deposits, demurrage, detention charges, terminal charges, cargo claims and export fraud.
Akutah said the Council’s reforms were in line with the Renewed Hope Agenda of President Bola Ahmed Tinubu and the policy direction of the Minister of Marine and Blue Economy, Adegboyega Oyetola. He said the reforms were aimed at strengthening port economic regulation, improving transparency and reducing the cost of doing business at Nigerian ports.
He noted that the Council had also achieved major milestones in legislative and institutional reform, including the passage of the Nigerian Port Economic Regulatory Agency Bill by both chambers of the National Assembly. He said the Bill, when assented to, would create an independent port economic regulator with wider powers to regulate tariffs, service standards and commercial conduct in the sector.
Other achievements highlighted by the NSC boss included the harmonisation of bonded terminal invoice charges from 18 categories to six, support for the National Single Window project, and progress on the International Cargo Tracking Note.
He said these measures were designed to improve efficiency, reduce congestion and boost trade facilitation.
Akutah also said the Council had advanced institutional renewal through digital transformation, workforce development and the deployment of an Enterprise Content Management System.
He added that preparations had been concluded for the 18th International Maritime Seminar for Judges, scheduled to hold in Abuja later in the month.
The NSC chief said the Council remained committed to protecting shippers, promoting fair competition and supporting Nigeria’s drive toward a more transparent and competitive maritime economy..
