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By Nnasom David
The Abuja Liaison Office of the Nigerian Shippers’ Council (NSC) has hosted a high-level engagement forum aimed at repositioning Nigeria’s maritime sector for improved efficiency, trade expansion and global competitiveness.
The forum, themed “From Port to Prosperity: Enhancing Trade and Investment Opportunities,” brought together key regulators and stakeholders, including the Nigeria Customs Service, the Central Bank of Nigeria, and international trade bodies such as ECOWAS and the African Continental Free Trade Area.
Discussions centred on reducing operational bottlenecks at Nigerian ports and aligning port activities with national economic goals.
Delivering the keynote address on behalf of the Minister of Marine and Blue Economy, the Director of Maritime Services unveiled a 10-year roadmap for the sector spanning 2025 to 2034. He said the ministry was shifting focus from revenue-driven port operations to competitiveness, with priority on the full deployment of the Port Single Window and comprehensive digitalisation to cut cargo dwell time and meet global benchmarks.
In his opening remarks, the Executive Secretary and Chief Executive Officer of the NSC, Dr. Pius Ukeyima Akutah (MON), said sustained collaboration between shippers and regulatory agencies remained the most effective way to secure the future of Nigeria’s maritime industry.
Operational updates from the Nigeria Customs Service featured prominently, with Controller Mazu highlighting gains recorded through the “Golden Triangle” collaboration involving the NCS, the Nigerian Ports Authority and the Nigerian Maritime Administration and Safety Agency. He disclosed that over 70 operators had been migrated to the Authorised Economic Operator scheme, reducing cargo clearance times from about 168 hours to under 48 hours.
The Central Bank of Nigeria reiterated export repatriation timelines of 90 days for oil exports and 180 days for non-oil exports, while confirming its transition to the National Single Window platform to eliminate inefficiencies linked to manual data reconciliation.
Private sector participants, including CFG Africa and United Capital Group, identified funding constraints as a major challenge in the maritime value chain. They discussed the use of commercial papers and asset-backed financing to support liquidity for dollar-denominated transactions. Stakeholders also urged Nigerian shippers to strengthen their understanding of legal risk management and international commercial terms as trade activities under the AfCFTA continue to expand.
The NSC disclosed that interventions by its Complaints and Legal units saved the Nigerian economy about ₦773 million in the first quarter of 2024, following reported savings of ₦2 billion in 2023.