…Targets 1% freight stabilization fee

By Providence Ayanfeoluwa

The Nigerian Shippers’ Council, NSC, has said that the implementation of International Cargo Tracking Note, ICTN would commence by second quarter of 2025.

This move would gear the NSC for more and enhanced productivity in the year, and however, expected to tighten oversight on cargo movements and significantly increase transparency.

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 scheduled for implementation in the second quarter of 2025, would set the stage for enhanced revenue generation and operational oversight.

Akutah revealed that to boost the council’s regulatory role within the maritime industry, plans are under way to transmute into the Nigerian Shipping and Ports Economic Regulatory Agency, NPERA.

He noted that contrary to believe that the implementation of the Freight Stabilization Fee would introduce additional costs at the ports, he further stressed that the situation is akin to choosing what aspect of the Act to implement as the one per cent Freight Stabilization Fee was captured 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,” he said.