Nigeria’s ambitious plan to build a $1 trillion economy may be unattainable without urgent reforms in the maritime and logistics sector, according to maritime and logistics experts. Speaking at the International Chamber of Commerce (ICC) Nigeria post-meeting talk show in Lagos, Dr. Pius Akutah, Executive Secretary/Chief Executive of the Nigerian Shippers Council (NSC), emphasized the importance of a robust, efficient, and competitive maritime infrastructure in achieving the country’s economic goals.
Akutah, represented by Deputy Director, Trade Services at the NSC, Ms. Adaora Nwonu, stressed that no industrialization agenda, export-led growth, or economic diversification strategy can be sustainably achieved without a competitive maritime and logistics system. He called for collaboration across government, private sector, and development partners to build a shipping and maritime sector that serves Nigeria’s present and future needs. Akutah also extended an invitation to the ICC Nigeria to partner with the NSC, citing shared values around fair trade, efficient logistics, and private sector development.
The NSC has made significant strides in promoting economic growth and protecting shippers’ interests. In 2024, the Council helped prevent the repatriation of about N52 billion in questionable foreign exchange claims through its Economic Regulatory Portal (ERP). Additionally, the NSC’s intervention led to the recovery of over N2 billion for shippers and cargo owners through its Alternative Dispute Resolution (ADR) mechanism. The Council also enforces rules to prevent monopoly abuse and protect cargo owners, especially MSMEs, from unfair treatment.
Akutah emphasized the need for regulatory reforms that empower, promote transparency, and protect stakeholders. The NSC is redefining regulation, not as control, but as empowerment, transparency, and protection. The Council evaluates freight rates, terminal charges, and demurrage claims to ensure economic reasonableness. Akutah’s comments highlight the importance of regulatory reforms in promoting a competitive maritime and logistics sector.
