22-05-2025
Nigeria: Shippers Council saves $19mln through automation of demurrage, freight rate
Nigerian Shippers' Council (NSC) has highlighted its impressive performance and called for critical policy and funding reforms at the just concluded 2025 Sectoral Retreat of the Federal Ministry of Marine and Blue Economy.
The NSC's Executive Secretary/CEO, Dr. Pius Akutah, disclosed that the council saved the Federal Government over N31 billion between January and June 2024 through automation of demurrage, freight rate, and charter party verification.
According to a statement ,Dr. Akutah also showcased the council's achievements, including the commissioning of the Funtua Inland Dry Port, top-ranking performance in the 2024 ICPC Ethics and Integrity Scorecard, the launch of online registration portals for port users and service providers and the development of the Trade and Transport Data Bank now nearing completion.
He emphasized the need for swift passage of the Nigerian Port Regulatory Agency Bill and consistent access to statutory funding.
The Minister of Marine and Blue Economy, Adegboyega Oyetola who declared the retreat open, stated that the Marine and Blue Economy sector had been placed at the forefront of the Federal Government growth agenda and that agencies must respond with measurable performance and improved service delivery.
The Minister also noted several milestones achievements over the year, such as modernization of port infrastructure, steady improvement in port efficiency, progress on the National Single Window, commencement of Cabotage Vessel Financing Fund disbursement, noting that the recent approval of the National Policy on Marine and Blue Economy, marked a new phase in the sectorial development.
