The Nigerian Shippers’ Council has stated that the Federal Government saved over N31bn in the first six months of 2024 through automation of demurrage, freight rate, and charter party verification.
The Executive Secretary/Chief Executive Officer of the NSC, Dr Pius Akutah, disclosed this on Tuesday in Abuja at the ongoing 2025 Sectoral Retreat of the Federal Ministry of Marine and Blue Economy.
“Between January to June 2024, the council saved N31bn through automation of demurrage, freight rate, and charter party verification,” he stated.
He called for critical policy and funding reforms. Akutah also showcased the council’s achievements, including the “commissioning of the Funtua Inland Dry Port, top-ranking performance in the 2024 ICPC Ethics and Integrity Scorecard, the launch of online registration portals for port users and service providers, and the development of the Trade and Transport Data Bank, now nearing completion.”
Akutah emphasised the need for the swift passage of the Nigerian Port Regulatory Agency Bill and consistent access to statutory funding.
While declaring the retreat open, the Minister of Marine and Blue Economy, Adegboyega Oyetola, stated that the sector had been placed at the forefront of the Federal Government’s growth agenda and that agencies must respond with measurable performance and improved service delivery.
The minister also noted several milestone achievements over the year, such as the modernisation of port infrastructure, steady improvement in port efficiency, progress on the National Single Window, and the commencement of Cabotage Vessel Financing Fund disbursement.
He noted that the recent approval of the National Policy on Marine and Blue Economy marked a new phase in the sectoral development.
Oyetola outlined key imperatives for sectoral transformation, including inter-agency synergy, digitalisation, governance, and environmental responsibility.
He stressed that the retreat goes beyond administrative formality, representing instead a crucial opportunity to evaluate the sector’s direction and to reposition it for impactful delivery in line with national expectations.
As the retreat progresses, the agency heads will be signing performance bonds anchored on specific Key Performance Indicators, reinforcing a shared commitment to measurable results and transparency.
