Executive Secretary/Chief Executive Officer of the Nigerian Shippers’ Council (NSC), Dr Pius Akutah, has disclosed that the agency prevented the repatriation of about N52 billion in questionable foreign exchange claims at the nation’s seaports through its Economic Regulatory Portal (ERP) in 2024.

Speaking yesterday at the 26th Annual General Meeting and Post AGM-Talk of the International Chamber of Commerce (ICC) Nigeria, Akutah said the council also resolved over N2 billion cargo-related disputes and ramped up efforts to promote inland dry ports towards expanding trade access and reducing congestion at seaports.

Akutah, who was represented by the Director, Trade Services of the agency, Ms Adaora Nwonu, at the event themed, “Shipping and Maritime Trade: The Backbone of International Trade,’ reiterated the pivotal role of the council in strengthening the national economy and promoting cost predictability.

According to him, the council evaluates freight rates, terminal charges, and demurrage claims to ensure economic reasonableness.

“Our Alternative Dispute Resolution (ADR) mechanism provides a transparent, time-efficient, and non-adversarial platform to resolve complaints between port users and service providers,” he stated.

He emphasised the need to shift from oil dependency to harnessing the country’s vast maritime potential, noting the role of shipping and maritime trade in the country’s economic growth and diversification strategy. Akutah said Nigeria must position itself as the regional hub for trans-shipment, logistics, and trade facilitation.