The Nigerian Shippers’ Council (NSC) announced significant economic savings of over N40 billion in the past year, primarily through the implementation of a new app that automates the evaluation of freight charges, party charters, and fees. During a media briefing to mark his first year in office, Executive Secretary Pius Akutah emphasized that these savings helped alleviate potential economic strain, which could have been exacerbated without the Council’s intervention.
In addition to the savings, Akutah highlighted the effectiveness of the Council’s Compliance Unit, which saved an additional N6 billion in legal fees through efficient conflict resolution methods, such as Alternative Dispute Resolution (ADR). This proactive approach not only prevented economic losses but also improved the quality of trade within the maritime sector.
Looking forward, the NSC is aiming to boost maritime investments to $10 billion over the next five years as part of a new strategic plan. Akutah stressed the importance of addressing logistical challenges to optimize Nigeria’s participation in the African Continental Free Trade Agreement (AfCFTA), emphasizing that enhanced connectivity and a robust intermodal transportation system are crucial for the successful movement of goods across the region.
