Nigeria’s Port Economic Regulator, the Nigerian Shippers’ Council (NSC), has directed all shipping companies, shipping agents, and terminal operators at the nation’s ports to immediately suspend any planned or ongoing review of charges pending comprehensive engagement with relevant stakeholders.
In a statement issued on Monday, the Council clarified that recent adjustments to port charges were undertaken strictly in line with its statutory mandate, stressing that the process followed transparent, structured, and well-defined regulatory procedures.
According to the NSC, the tariff review process involved extensive technical and consultative engagements with affected service providers to assess cost drivers, operational realities, investment obligations, and compliance with regulatory requirements. The Council noted that such engagements were not automatic approvals but inputs into a broader evaluation process.
It explained that final decisions were only reached after rigorous internal technical and financial assessments, guided by empirical data, regulatory benchmarks, and prevailing economic conditions.
However, the Council emphasized that shipping companies, agents, and terminal operators must not implement any charge review without first consulting and engaging their stakeholders. It warned that any action capable of disrupting port operations would attract firm regulatory intervention.
Reaffirming its role as Port Economic Regulator, the NSC stated that transparency, fairness, and stakeholder participation remain the core principles of port economic regulation in Nigeria.
The Executive Secretary and Chief Executive Officer of the Council, Dr. Pius Akutah, MON, cautioned that the NSC is empowered to impose appropriate sanctions on defaulting operators, including enforcement measures provided under existing regulatory frameworks.
While encouraging constructive dialogue and compliance, Akutah warned that any service provider that proceeds with charge reviews without stakeholder engagement should be prepared to face decisive regulatory action.
He assured port users and industry stakeholders that the Nigerian Shippers’ Council remains committed to safeguarding their interests, promoting fair competition, and ensuring a stable, balanced, and predictable business environment within the Nigerian maritime sector.
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