The Sea Empowerment and Research Centre (SEREC) has called for a balanced regulatory ecosystem that protects both users and port service providers without undermining commercial realities or discouraging strategic maritime investments.

This followed the National Council of Managing Directors of Licensed Customs Agents (NCMDLCA) petition to President Bola Tinubu over the proposed increase in local shipping charges, which allegedly undermines due process outlined in an existing memorandum of understanding (MoU).

The petition dated May 14 and copied the Secretary to the Government of the Federation, Senate President, Minister of Finance and Coordinating Minister of the Economy, Minister of Marine and Blue Economy and other maritime stakeholders, alleged that the Nigerian Shippers’ Council (NSC) failed to subject the proposed new charges to the Technical Standing Committee established under the MoU governing port and shipping charges.

According to the petition, the MoU, particularly Articles 2(b) and 4, stipulates that any additional or increased charges by terminal operators or shipping service providers must first receive agreement from parties concerned through the Council and be reviewed by the standing committee before implementation.

The petition demanded the immediate suspension of any planned increase pending a full review by the standing committee to avoid possible litigation and further disputes within the maritime sector.

However, SEREC, in its industry position signed by the Head of Research, Dr Eugene Nwekee, stressed that Nigeria’s maritime sector cannot afford regulatory uncertainty, investor anxiety or avoidable industry distrust at a time the nation urgently requires stronger trade efficiency, increased non-oil revenue generation and improved global shipping confidence.

SEREC noted the global maritime industry has, over the last few years, witnessed unprecedented operational cost escalations arising from volatile foreign exchange fluctuations, rising global freight and vessel operational costs, high energy and bunker fuel prices, inflationary pressures on port and logistics services, increased cost of marine insurance and compliance obligations, supply chain disruptions and equipment imbalances.

The research group maintained that Nigeria could not isolate itself from prevailing international commercial realities, adding that its maritime industry at this critical stage required collaboration rather than polarisation.

SEREC noted that the NSC must be seen as both the protector of cargo interests and strategic stabiliser of maritime investments and commercial sustainability across the port value chain.

While acknowledging the importance of procedural compliance under the existing MoU, SEREC argued that industry regulation must also reflect present-day economic realities, especially in balancing service sustainability, investment protection, port competitiveness, ease of doing business, operational efficiency and consumer protection.

According to SEREC, rigid interpretation of legacy agreements without accommodating evolving economic indices could discourage investment inflows into Nigeria’s maritime sector at a time the country seeks to position itself as a leading maritime and logistics hub in West and Central Africa.

The Council, SEREC stated, must therefore strike a careful equilibrium between protecting cargo owners from arbitrary charges and ensuring that shipping companies, terminal operators and other port service providers remain commercially viable under prevailing macroeconomic realities.

The organisation further observed that shipping operations globally are largely dollar-denominated, while most local operational obligations within Nigeria are heavily affected by the persistent depreciation and volatility of the naira exchange rate.

This, the group stated, inevitably exerts pressure on operational costs and pricing structures across the maritime logistics chain.