Market News

The Nigerian Shippers’ Council, NSC, has said it has saved Nigeria from spending billions of Naira by performing its statutory roles and functions.

The Executive Secretary of NSC, Pius Akutah, said this on Sunday on a maiden visit to Kaduna to interact with the council’s staff and the State Shippers Association.

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According to him, the council’s dispute resolution mechanism was effective and it has bolstered its operations.

Akutah said that complaints such as loss of cargo and charges accompanied by it from owners, among other issues, were handled professionally and resolved by the council.

He noted that revamping rail transportation, which was on course by President Bola Tinubu’s administration, would go a long way in ensuring a viable means of moving cargo from the seaport to land.

Akutah said, “Rail transportation is the best and most effective and cheaper means of transporting cargoes from the hinterland to the seaport.”

He recalled that the council and the Nigerian Railways Corporation (NRC) had signed a memorandum of understanding to enhance rail transport integration in ports.

Akutah pointed out that the collaboration was aimed at tackling the challenges of rail transportation costs and promoting the use of rail systems for efficient cargo movement.

The executive secretary revealed that there were ongoing discussions by the Federal Government on the repair and use of the old light gauge, which would be dedicated for cargo movements alone.

He stated that however expensive the rail system was, it was crucial to build rail lines, extolling efforts to revamp them by the Federal Government.

While describing the shippers association as a critical component of what the council does, he said, they protect their interests to ensure they are very strong and work to support the activities of trade in the country.

“We are working to see how the national body of the shippers association is put together so they continue the good work they are doing,” Akutah said.

On the Cargo Defence Fund, CDF, he noted that the initiative provides comprehensive legal and technical support to importers and exporters, including services like litigation loans, foreign legal representation, and risk management advice.

Commenting on the Bill for an Act to repeal the NSC Act and enact the Shipping and Port Economic Regulatory Agency Bill and Related Matter, Akutah said it aims to empower the NSC to effectively regulate the shipping industry, protect the interests of shippers, and promote economic growth.

According to him, the proposed legislation would bring about much-needed transparency, accountability, and efficiency to the sector.