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Nigerian Shippers’ Council (NSC) has saved over N90.6 billion and $1.348 million in economic value for Nigerian shippers and the national economy through its Alternative Dispute Resolution (ADR) mechanisms and regulatory interventions between the fourth quarter of 2023 and the second quarter of 2026.

The Executive Secretary, NSC, Dr Pius Akutah, who disclosed this during an engagement with the maritime journalists on Saturday, said the council prevented N86.06 billion unjustified demurrage payments and secured a savings of N4.54 billion and $1.348 million.

According to Akutah, the Council received 558 complaints and resolved 295 cases with disputes covering container deposits, demurrage, detention charges, terminal charges, cargo claims, export fraud and related commercial matters.

He said the council also concluded out-of-court settlements involving APM Terminals Nigeria Limited, CMA CGM and Maersk Nigeria Limited in matters arising from charges paid above approved tariffs.

These interventions, he stated, protected Nigerian shippers, reduced litigation and reinforced confidence in the Council’s dispute resolution framework.

“Alternative Dispute Resolution remains one of the Council’s most effective mechanisms for protecting Nigerian shippers and reducing the cost of doing business,” he said.

He said the Council also achieved major institutional milestones, including the passage of the Nigerian Port Economic Regulatory Agency (NPERA) Bill.