By Godwin Oritse 

Nigeria’s maritime industry is at a critical juncture, where trade facilitation, efficiency, and security must take center stage. The International Cargo Tracking Note (ICTN), introduced by the Nigerian Shippers’ Council (NSC), is not only legally justified but also essential for protecting national revenue, improving cargo clearance, and ensuring compliance with global trade security standards.

Misinformation about ICTN has created unnecessary fears, particularly regarding cost implications and clearance delays. However, it is imperative to separate facts from speculation and recognize that ICTN is a game-changing trade reform that will benefit the Nigerian economy in the long run.

Why ICTN Is Essential for Nigeria’s Trade Sector

The ICTN is designed to increase cargo visibility, ensuring that all shipments passing through Nigerian ports are duly accounted for and properly assessed. It prevents under-declaration, false invoicing, and other fraudulent activities that have significantly hampered revenue collection.

By digitizing cargo tracking, ICTN ensures that customs and other regulatory agencies have access to accurate shipment data before cargo arrives. This improves the risk assessment process, allowing for faster clearance and reduced port congestion. The system eliminates the delays and inefficiencies caused by manual inspections and irregular documentation processes.

Revenue Protection and National Security

Nigeria has suffered from substantial revenue leakages due to inaccurate customs declarations. ICTN directly addresses this challenge by ensuring that all shipments are valued correctly, enabling the government to collect appropriate duties and tariffs. This not only boosts federal revenue but also reduces the reliance on excessive taxation of businesses.

Beyond revenue protection, ICTN plays a critical role in securing Nigeria’s ports from illicit trade. Smuggling of arms, contraband goods, and illegal substances is a serious national security threat. With ICTN, such shipments can be easily tracked and intercepted before reaching Nigerian shores.

Global Trade Compliance and Competitive Ports

In today’s highly regulated global trade environment, ICTN aligns Nigeria’s maritime operations with international standards. Several countries, including Cameroun, Togo, Benin Republic, Congo DRC, Ghana, and Senegal, have successfully implemented ICTN, leading to improved port efficiency and regulatory compliance. Nigeria must follow this progressive trajectory to remain competitive.

Furthermore, by adopting ICTN, Nigeria strengthens its commitment to the World Trade Organization’s Trade Facilitation Agreement (TFA) and other international trade security treaties. This enhances Nigeria’s reputation as a reliable trade partner, attracting foreign direct investment (FDI) and boosting international trade relations.

Conclusion

ICTN is a strategic investment in Nigeria’s future, ensuring better trade security, improved revenue generation, and enhanced port efficiency. The Nigerian Shippers’ Council, the implementing agency for the ICTN should as a matter of urgency take necessary steps to address stakeholder concerns, and businesses should work collaboratively to ensure seamless ICTN implementation.

Rather than resisting this much-needed trade reform, stakeholders must embrace ICTN as a long-term solution that will strengthen Nigeria’s economy, improve trade efficiency, and create a more competitive maritime industry. The future of trade in Nigeria depends on the adoption of transparent, secure, and efficient systems like ICTN.