The Nigerian Ports Authority (NPA) has mandated the enforcement of the Nigeria Export Proceed (NXP) as a key requirement for processing export cargoes. This directive requires export trucks to comply with NXP procedures before accessing the ports starting February 2025, in a move to streamline operations and boost efficiency at Nigeria’s ports.
Truck Transit Parks Limited (TTP), the NPA’s technical partner, has issued a notice to all stakeholders in the maritime sector outlining the mandatory NXP implementation. Export trucks are now required to meet this condition before entering the ports to avoid any delays or disruptions in cargo processing.
The new policy has been met with positive feedback from industry professionals, including Mr. Olatunji Baale, Managing Director of Diamond Star Export Processing Terminal. Baale praised the initiative for its potential to improve the tracking of export earnings and ensure compliance with export regulations, which are vital for repatriating foreign currency.
According to Baale, the policy will ensure that exporters complete necessary documentation with their banks for the repatriation of foreign exchange. This will reinforce adherence to regulations governing export trade and further drive the success of non-oil export initiatives, which have already seen substantial growth in recent years.
In addition to the NXP regulation, the NPA has placed five terminal operators on its watchlist for non-compliance and other operational issues. This move aims to ensure strict adherence to the regulations and improve the overall efficiency of Nigeria’s export processing system.
Source: Vanguard