In its capacity as the Nation’s Port Economic Regulator, the Nigerian Shippers’ Council (NSC) has ordered all shipping lines and agents to immediately suspend recently approved tariff adjustments.
This directive follows significant concerns raised by industry stakeholders regarding the impact of these hikes on port users.
Following a Council directive issued Friday, March 20, the Regulator has mandated that all shipping lines and agencies maintain the status quo. A final resolution will be disseminated only upon the conclusion of stakeholder consultations and the formal filing of reports:
” The Nigerian Shippers’ Council (NSC), in the exercise of its statutory mandate as the economic regulator of the port and shipping sector, hereby directs all shipping lines and their respective agencies to immediately suspend the implementation of the recently approved tariffs.”
The Council further clarified that;
” This directive is issued pursuant to ongoing engagements with critical stakeholders and in response to substantive concerns raised regarding the timing, structure, and potential impact of the said tariffs on port users and the wider logistics value chain.
” In order to safeguard fair competition, transparency, and sectoral stability, the Council considers it necessary to halt further implementation pending the conclusion of comprehensive consultations and regulatory review.”
Furthermore, the Council mandates strict adherence from all affected service providers;
” All affected operators are mandated to revert to, and apply strictly, the tariff regime that was in force immediately prior to the said increase. Any deviation from this directive shall constitute a breach of regulatory compliance and will attract appropriate sanctions in line with extant laws and regulations.
The Council will, upon conclusion of stakeholder consultations and internal review processes, communicate a definitive position on the matter.”
The NSC further assures all industry stakeholders that;
”NSC remains resolute in its commitment to effective economic regulation, protection of cargo interests, and the promotion of an efficient and equitable maritime transport system.”
In a final call to action, the Port Economic Regulator urges all relevant service providers to strictly adhere to these directives;
”All operators are hereby enjoined to ensure strict and immediate compliance.”
