Nigerian Shippers' Council Halts Shipping Tariff Hike

The Nigerian Shippers' Council announced the suspension of a recently approved tariff hike by shipping companies, as stated in a release obtained from Punch Online. This decision, made on a Friday, is in response to ongoing engagements with critical stakeholders who raised concerns about the timing and potential impact of the tariff on port users and the broader logistics value chain.

The Council emphasized the need to safeguard fair competition and transparency within the sector. It mandated that shipping lines revert to the previous tariff regime until a comprehensive regulatory review is concluded.

The Council warned that any deviation from this directive would be considered a breach of regulatory compliance, attracting appropriate sanctions under existing laws. Concurrently, freight forwarders across Lagos staged protests against the increased charges, particularly targeting MSC Shipping Company and other major shipping lines, demanding an immediate reversal of the hike.