Home NewsBusiness News Port taskforce saves visiting ships N5.4bn demurrage in 2 years

Port taskforce saves visiting ships N5.4bn demurrage in 2 years

by Ikenna Ngere

Port Standing Task Team, PSTT, said its operations saved visiting ships over N5.4 billion that they should have paid as demurrage between 2021 and 2022. Delivering its scorecard, National Coordinator, PSTT, Moses Fadipe, said that its operations also led to a substantial reduction in congestion, cargo dwell time, and ship turn-around time during the period under review.

Fadipe further said that the team’s operations have reduced under-the-table cost of cargo clearance at the ports (illegal demands in the ports) and eliminated bureaucratic bottlenecks faced by port users thereby improving duty collection.

He said the team which comprises the Nigerian Shippers’ Council, NSC, the Nigerian Ports Authority, NPA, the Independent Corrupt Practices Commission, ICPC; and the Department of State Services, DSS, delivered its scorecard and restated its commitment to fulfilling the objectives for which it was created.

His words: “Implementation so far has shown progressive cost recovery in billions of naira. The economy has saved an average vessel demurrage of $20,000 per day between the years 2021 and 2022 which ultimately translated to $12.35 million which is over N5.4 billion at today’s official exchange rate.

“More than 85 per cent of vessels that called at Nigerian ports and terminals left without incident in 2021. There is a drastic reduction in the incidence of extortions by both state and non-state actors, and freer movement of vehicles and persons along the ports’ logistics ring.”


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