The Nigeria’s Port Economic Regulator, the Nigerian Shippers’ Council (NSC), has directed all shipping companies, shipping agents and terminal operators across Nigerian ports to immediately suspend and refrain from implementing any review or upward adjustment of charges until they have fully consulted and engaged relevant stakeholders.
This is just as the Council declared that it will impose its sanctions on erring port service providers.
The NCS also promised to protect the interests of port operators while promoting fair competition.
In a statement signed by the Council’s Head, Public Relations, Rebecca Adamu, the Council clarified that the recent tariff adjustments earlier approved were carried out strictly in line with its statutory mandate as Port Economic Regulator. According to the statement, all tariff reviews followed a transparent, structured and clearly defined regulatory process, which involved extensive technical analysis and consultative engagements with affected service providers.
These engagements, the Council noted, were not automatic approvals but formed part of a broader evaluative framework designed to assess cost drivers, operational realities, investment obligations and compliance with regulatory requirements. “Final decisions were reached only after rigorous internal, technical and financial assessments guided by empirical data, regulatory benchmarks and prevailing economic conditions.
“Notwithstanding the foregoing, shipping companies, agents and terminal operators are hereby directed to suspend any intended review or implementation of charges until they have duly consulted and engaged their stakeholders”, the statement explained.
The Council warned that it will not hesitate to wield the full weight of its regulatory authority against any service provider whose actions disrupt port operations.
It reiterated that transparency, fairness and stakeholder participation remain the core principles underpinning port economic regulation in Nigeria.
Speaking on the directive, the Executive Secretary and Chief Executive Officer of the Council, Dr. Pius Akutah, cautioned that the NSC is empowered under its regulatory mandate to apply appropriate sanctions against defaulting operators, including enforcement actions provided for under relevant regulatory frameworks.
While encouraging constructive dialogue, engagement and compliance, he stressed that any service provider that proceeds with charge reviews without stakeholder consultation should be prepared to face decisive regulatory action.
Akutah further assured port users and industry stakeholders that the Nigerian Shippers’ Council remains committed to protecting their interests, promoting fair competition and ensuring a balanced, transparent and predictable business environment within Nigeria’s maritime.