Our App’s Effective, saved FG N40bn in 1 year –NSC CEO
Our App’s Effective, saved FG N40bn in 1 year –NSC CEO
The Nigerian Shippers’ Council, on Sunday, announced that it had saved the nation’s economy over N40 billion in the past year. These savings stemmed from confirming the reasonableness of charges, party charters, fees, and other areas. The Council also aims to boost business investments in the maritime sector to reach $10 billion within the next five years.
The Executive Secretary of the Nigerian Shippers’ Council, Pius Akutah, revealed at a media parley marking his first year in office that the economy would have suffered additional strain had the Council not achieved these savings.
“And this was made possible by an app we introduced about eight or nine months ago, which has automated the system for calculating the reasonableness of freight, charters, fees, and similar costs. So, I want to thank you for that.”
Akutah further credited the Compliance Unit’s efforts, stating, “With the work you have done in the last year, we have also saved this country N6 billion, which would have gone into legal fees and could have led to significant economic losses through orders to ground ships and other sector activities. But we didn’t just save about six billion; we also enhanced trade quality by resolving these conflicts through Alternative Dispute Resolution (ADR).”
According to him, the Shippers’ Council has begun engaging stakeholders aligned with the agency’s goals as part of its five-year strategic plan.
“We are rolling out a new five-year program that will shape our activities over the next five years, focusing primarily on our role as a Port Economic Regulator. This includes facilitating trade and aiming to grow business investments in this sector to over $10 billion. We have already started discussions with stakeholders who share our vision,” Akutah stated.
The Executive Secretary, however, noted that logistics challenges threaten Nigeria’s ability to fully leverage the African Continental Free Trade Agreement (AfCFTA), valued at a combined GDP of $3.4 trillion.
“The AfCFTA’s success hinges on tackling maritime logistics. Connectivity within the African region is currently a significant challenge,” he said.
He questioned how goods would move freely across Africa if Nigeria fails to promote connectivity and develop an intermodal transportation system.
“Even if we strengthen our manufacturing sector and produce goods in Nigeria, we need every legal framework in place to support exports,” he concluded.
