Entrepreneurng.com
Sunday, April 26, 2026
  • Business News
  • Economic News
  • Editor’s Picks
  • Advertise With Us
No Result
View All Result
Entrepreneurng.com
No Result
View All Result
Home News Business News

FG reduces port terminal charges by 33%

by Ikenna Ngere
October 25, 2023
in Business News, News
0
Top Business & Finance News Headlines For Today, Saturday, 13th May, 2023
492
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

THE Federal Government through the Nigerian Shippers Council, NSC, yesterday reduced port terminal charges by 33 per cent from to 400 per cent to 600 per cent of storage.

But the FG increased bulk cargo charges by 100 per cent from 125 per cent to 250 per cent.

The changes were highlights of a meeting between the leadership of the Council, Seaport terminal operators, Shipping companies, freight forwarders and relevant stakeholders held yesterday.

The meeting also increased the number of free days for cargo storage at the terminals to five days  from three  days with a view to providing more flexibility for shippers and reduce costs.

Confirming the development, the Director, Public Relations Unit of the Nigerian Shippers Council, Rekiya Dhikru-Yagboyaju said that the previously proposed 600 per cent increase in terminal charges has been reduced to 400 per cent adding that the adjustment aims to strike a balance between the needs of the terminal operators and the shippers.

According to Dhikru-Yagboyaju, besides the reduction in terminal charges, an increase of 100 per cent on bulk cargoes was agreed upon by stakeholders that attended the meeting.

A statement of resolutions passed at the meeting said:  “Break bulk cargo charges have been increased from 125 per cent to 250 per cent. This adjustment reflects the changing dynamics of the industry and ensures fair compensation for services provided.

“All complaints regarding inefficiencies by the terminal operators will be addressed immediately. This commitment aims to improve overall operations and enhance customer satisfaction.

“The Shippers Council has established a complaints desk at all ports. This dedicated desk will ensure that issues raised by stakeholders are resolved promptly and efficiently.

“Boxes that arrived prior to October 16th will be rated with the old rates. This provision aims to avoid any confusion or discrepancies in billing.

“Further discussions between the terminal operators and the Shippers Council will continue to refine and improve the processes. This ongoing dialogue will ensure that the interests of all parties are considered and addressed.

“By reaching these resolutions, the Nigerian Slippers Council, shipping companies, terminal operators, and relevant associations/stakeholders have demonstrated their commitment to fostering a harmonious working environment and addressing the concerns of the industry.

SOURCE: VANGUARD

Tags: FGport terminal
Share197Tweet123
Ikenna Ngere

Ikenna Ngere

  • Trending
  • Comments
  • Latest
Prince Faisal bin Salman Al Saud

Saudi Arabia: Top 10 Richest Princes and Princesses of the Royal Family

January 4, 2025
2025 Budget: Federal Government Allocates ₦132bn to Support Farmers

2025 Budget: Federal Government Allocates ₦132bn to Support Farmers

January 4, 2025
Applications Open: Nehemiah Davis' Greatness Grant 2025 (Up to $2,500 Available)

Applications Open: Nehemiah Davis’ Greatness Grant 2025 (Up to $2,500 Available)

February 23, 2025
Sam Bankman-Fried

FTX founder Sam Bankman-Fried has been arrested in the Bahamas

19
THE CHANGING NATURE OF POWER IN THE KNOWLEDGE ECONOMY

THE CHANGING NATURE OF POWER IN THE KNOWLEDGE ECONOMY

3
RE-INVENTING MANAGEMENT IN THE KNOWLEDGE ECONOMY

RE-INVENTING MANAGEMENT IN THE KNOWLEDGE ECONOMY

2
Solar Power Sparks Economic Revival in Nigeria

Solar Power Sparks Economic Revival in Nigeria

April 17, 2026
Kitchen Waste Turns to Garden Gold

Kitchen Waste Turns to Garden Gold

April 17, 2026

Kasyno online jakie metody patnoci s dostpne.1550 (2)

April 15, 2026
Entrepreneurng.com

Copyright © 2025

Navigate Site

  • About
  • Advertise
  • Privacy & Policy
  • Contact

Follow Us

No Result
View All Result
  • Business News
  • Economic News
  • Editor’s Picks
  • Advertise With Us

Copyright © 2025