Nigerian Shippers Save N90.6bn Through Reforms

During a media briefing in Lagos on Saturday, Dr. Akutah Piu, the Chief Executive Officer of the Nigerian Shippers' Council, announced that Nigerian shippers saved N90.6 billion and $1.348 million through various reforms.

The council prevented N86.06 billion in unjustified demurrage payments and secured an additional N4.54 billion and $1.348 million through alternative dispute resolution measures. The council received 558 complaints during the period and resolved 295 disputes involving demurrage and other charges.

The Nigerian Shippers' Council reached court settlements with major shipping terminals to address excess tariff collections and reduce litigation. The council also streamlined bond terminal invoicing charges, reducing bills across 18 categories for six direct terminal operators.

Furthermore, the Nigerian Port Economic Regulatory Agency (NPERA) bill has passed the National Assembly and awaits presidential assent, marking the first establishment of a statutory fund since 1978. The council continues to support the National Single Window project to improve cargo clearance and lower logistics costs.