The Nigerian Shippers’ Council (NSC) has announced that the long-awaited International Cargo Tracking Note (ICTN) will officially commence implementation in the second quarter of 2025. This initiative is designed to enhance monitoring, improve cargo movement oversight, and significantly boost transparency within Nigeria’s maritime sector.
Nigeria’s Economic Losses Due to ICTN Non-Implementation
As of October 2024, Nigeria reportedly lost approximately $2.5 billion over five years—translating to $500 million annually—due to the non-implementation of ICTN. The failure to track cargo movements effectively has led to revenue leakages and reduced efficiency in trade facilitation.
NSC’s 2025 Budget Anchored on Freight Stabilization Fee
Speaking at the 2025 Management Retreat in Ibadan, Pius Akutah, Executive Secretary of the Nigerian Shippers’ Council (NSC), emphasized that the Council’s 2025 budget would be strategically based on the 1% Freight Stabilization Fee as mandated by existing legislation. This measure aligns with the overarching goals of the Federal Ministry of Marine and Blue Economy to enhance revenue collection and operational oversight.
Transformation into Nigerian Shipping and Ports Economic Regulatory Agency (NPERA)
Plans are underway to transition the NSC into the Nigerian Shipping and Ports Economic Regulatory Agency (NPERA). This transformation is expected to strengthen the agency’s regulatory functions, ensuring a more structured and efficient maritime industry in Nigeria.
Addressing Concerns on Additional Costs at Ports
While some industry stakeholders express concerns that the Freight Stabilization Fee could increase port charges, Akutah clarified that the 1% fee was already incorporated in the NSC Act of 1978. The implementation of this fee is not an additional burden but a necessary step to enhance regulatory compliance and revenue generation.
NSC’s Strategic Priorities for 2025
During the retreat, the NSC outlined four key strategic priorities for 2025:
- Strengthening stakeholder engagement to promote inclusivity and collaboration.
- Enhancing transparency and fairness through predictable regulatory policies.
- Improving operational efficiency to ensure a seamless transition to NPERA.
- Driving sustainability by aligning economic growth with environmental responsibility.
Conclusion
The implementation of the ICTN in Q2 2025 marks a pivotal moment in Nigeria’s maritime sector, promising enhanced cargo monitoring, revenue generation, and improved trade efficiency. With the planned NPERA transition and the enforcement of the Freight Stabilization Fee, the NSC aims to fortify its role as a regulatory powerhouse in the industry.
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