MaritimeNews

Shippers’ Council Anchors 2025 Budget On 1% Freight Stabilization Fee

ICTN scheduled for implementation in Q2 2025

The Executive Secretary of Nigerian Shippers’ Council (NSC), Barr. Pius Akutah MON, has stated that the Council’s 2025 budget is anchored on the 1% freight stabilization fee based on provisions in its current law.

Akutah also expressed optimism that the Council will soon transmute into the Nigerian Shipping and Ports Economic Regulatory Agency (NPERA).

Noting the concerns that the implementation of the Freight Stabilization Fee would introduce additional costs at the ports, Akutah said the situation is akin choosing what aspect of the Act to implement as the 1% Freight Stabilization Fee was captured the Council’s 1978 Act.

His words: “Looking ahead, the Council’s 2025 budget is strategically anchored on the 1% freight stabilization fee, with plans to commence its collection upon Presidential assent to the NPERA bill.

“Our focus during this retreat will revolve around four strategic priorities which include; strengthening stakeholder engagement to foster inclusivity and collaboration, promoting transparency and fairness through predictable regulatory policies, enhancing operational efficiency to prepare for a seamless transition to NPERA, and driving sustainability by aligning economic growth with environmental responsibility.”

Barr. Akutah, who was speaking at the Council’s 2025 Management Retreat in Ibadan, on Tuesday stressed that the retreat is a value opportunity for the management to step back to reflect on achievements and plan for greater accomplishments.

Meanwhile, he added that under the guidance of the Federal Ministry of Marine and Blue Economy, the international Cargo Tracking Note (ICTN) is scheduled for implementation in the second quarter of 2025, setting the stage for enhanced revenue generation and operational oversight.

“As the program outlines, each Directorate has a clearly defined role, emphasizing the hands-on approach required to implement NPERA successfully. Let us seize this opportunity to shape a future of innovation, excellence, and progress,” he posited.

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