The Nigerian Shippers’ Council has directed shipping companies operating in the country to suspend the planned increase in tariffs, citing concerns over the potential impact on trade and the broader economy.
The Council, which serves as the economic regulator of the nation’s ports, stated that the decision was taken following consultations with key stakeholders in the maritime sector. It emphasized the need to maintain stability in shipping costs, particularly at a time when businesses are already grappling with economic challenges.
In its directive, the Council warned that any unilateral increase in tariffs without proper approval would be considered a violation of regulatory guidelines. Shipping companies were advised to engage with the Council to review cost structures before implementing any changes.
Industry players have welcomed the intervention, noting that rising shipping costs could lead to increased prices of imported goods, further fueling inflation. Importers and exporters alike expressed relief, stating that the suspension would provide temporary reprieve.
The Council also reaffirmed its commitment to ensuring fair practices within the maritime industry, adding that it would continue to monitor developments closely. Experts have called for long-term reforms to address inefficiencies in port operations and reduce overall logistics costs.
