The Nigerian Shippers’ Council, NSC, has said that the implementation of its International Cargo Tracking Note, ICTN, will commence by second quarter of 2025.
This development is expected to tighten oversight on cargo movements and significantly increase transparency.
As at October 2024, Nigeria had lost about $2.5 billion in five years, $500 million annually over non-implementation of the ICTN.
The Executive Secretary of Nigerian Shippers’ Council, NSC, Pius Akutah, said that the Council’s 2025 budget would be anchored on the one per cent freight stabilization fee based on provisions in its current law.
He spoke at the Council’s 2025 Management Retreat in Ibadan, saying that under the guidance of the Federal Ministry of Marine and Blue Economy, the ICTN would set the stage for enhanced revenue generation and operational oversight.
According to him plans are under way to translate the NSC into the Nigerian Shipping and Ports Economic Regulatory Agency, NPERA, to boost the agency’s regulatory role within the maritime industry.
Referencing the belief in some quarters that the implementation of the Freight Stabilization Fee would introduce additional costs at the ports, the situation is akin to choosing what aspect of the Act to implement as the one per cent Freight Stabilization Fee was captured in the Council’s 1978 Act.
His words: “Looking ahead, the Council’s 2025 budget is strategically anchored on the one percent freight stabilization fee, with plans to commence its collection upon Presidential assent to the NPERA bill.
“Our focus during this retreat will revolve around four strategic priorities which include; strengthening stakeholder engagement to foster inclusivity and collaboration, promoting transparency and fairness through predictable regulatory policies, enhancing operational efficiency to prepare for a seamless transition to NPERA, and driving sustainability by aligning economic growth with environmental responsibility.
“As the program outlines, each Directorate has a clearly defined role, emphasizing the hands-on approach required to implement NPERA successfully. Let us seize this opportunity to shape a future of innovation, excellence, and progress.”
