The Nigerian Shippers’ Council (NSC) has achieved a significant financial milestone by saving the Federal Government N31.1 billion in the first half of 2024, thanks to its Electronic Regulatory Port Portal (ERPP). Developed in partnership with the Central Bank of Nigeria (CBN), the ERPP is an innovative platform that verifies the reasonableness of Charter Party fees and enhances operational transparency.
During a recent visit by the Managing Director of the News Agency of Nigeria (NAN), Malam Ali Ali, to the NSC headquarters in Lagos, the Executive Secretary, Mr. Pius Akutah, highlighted the impressive outcomes of the portal’s deployment. Between January and June 2024, the NSC reviewed demurrage applications totaling N50.8 billion and determined that N19.6 billion of these requests were reasonable. This meticulous evaluation resulted in savings of N31.1 billion, marking a 400% increase over the N6.7 billion saved in the same period the previous year.
Akutah attributed this notable improvement in savings to the advanced automation solutions implemented by the NSC, stating, “The ERPP has not only improved operational efficiency but also helped curb financial leakages and minimize capital flight. By leveraging this technology, we anticipate up to an 80 percent reduction in outflows from the Nigerian economy.”
The ERPP enhances transparency and streamlines regulatory processes within the port sector by centralizing and monitoring key performance indicators for regulated service providers, handling annual tariff filings, managing voyage data, and facilitating online submissions for tariff reviews. It also integrates with other NSC systems, such as the CRD portal, to verify demurrage, freight rates, and Charter Party payments.
The platform complies with the Central Bank of Nigeria’s revised Foreign Exchange (FOREX) manual and Memorandum 13, Article 3.3, which requires the NSC to confirm the reasonableness of fees before granting foreign exchange approvals, thereby ensuring rigorous oversight and accountability.
The development of the ERPP underscores the NSC’s commitment to modernizing regulatory practices, optimizing port operations, and fostering economic growth in Nigeria’s maritime sector. Through these advancements, the NSC continues to play a crucial role in enhancing the efficiency and integrity of the nation’s maritime industry.
