Business Hilights

Tracking Nigeria's Headline Business News Online


Shippers Council lists priority areas for visiting Minister

Ad 2
Ad 3

The management of the Nigerian Shippers Council (NSC) Wednesday in Lagos tabled three critical areas of urgent national importance to the visiting Minister of Marine and Blue Economy, Adegboyega Oyetola.

Speaking in his welcome address, the Executive Secretary and CEO of the Council, Barr. Emmanuel Jime listed four areas that are of urgent importance to the success of the chief economic regulator of the Nigerian Ports.

Topmost in the four agenda is the need for the amendment of the NSC Act to effectively pronounce the Council the key Economic Regulator of the Ports.

Another agenda of the Council as revealed by the ES is the actualization of the regime of one per cent freight stabilization fee at ports.

This was followed by the demand for the Establishment of International Cargo Tracking Note (ICTN) that will be private sector driven for high profitability.

According to Jime, ICTN will amongst other advantages, address low national tonnage, loss of jobs, raise JVC and deepen ease of doing business at ports.

On the achievements of the Council, Jime revealed that through strategic regulation of the ports, average vessel demurrage in the last two years has risen to over $5.4bn as total time used in the process has been reduced to from seven to10 days to few hours.

Besides, he added that the Council is currently in the process of digitizing the port operations to ease business and also the digitization of manifests.

Another area of mileage recorded by the Council include the establishment of Inland Dry Ports in partnership with the private sector, Transit Park Schemes, border Information Centre and the establishment of Port Service Support Portal.

Responding, the Minister hailed the Council, but decried the level of rots and cracks in ports infrastructure, over staying of cargoes at ports, excesses of foreign fishing firms and weak ease of doing business.

However, he assured the Council that government would look into their challenges and effect necessary reforms where needed for the success of Blue Economy agenda of the current administration.

Business Hilights is an online news channel conceptualized and structured to report and track on a daily basis; latest developments in critical business sectors to serve as a one stop news gateway for governments, foreign and indigenous investors.