Cargo Tracking Note debacle: Nigeria loses $2.5bn in 5 years – Akutah

The Executive Secretary, Nigeriian Shippers’ Council ( NSC) Pius Akutah disclosed on Monday that Nigeria lost about $2.5bn in five years, and $500m annually due to the non-implementation of the International Cargo Tracking Note ( ICTN)

Akutah revealed this during an investigative hearing on the circumstances surrounding the non-implementation of the ICTN and identify challenges faced by the NSC, organised by the House of Representative Committees on Shipping, Excise, Customs, Ports and Harbor and Maritime Safety, Education and Administrations.

Speaking at the event, Akutah said “Nigeria has lost almost $2.5bn within the last five years that Nigeria has not implemented this. Because of some investigations conducted by the Economic and Financial Crimes Commission, a period of five years passed.

“Within the last five years, they implemented for two years and somehow stopped. In the last five years, they have not done it. We are losing huge amounts in dollars.”

The Minister of Marine and Blue Economy, Gboyega Oyetola, who was represented by the Director of Maritime Services, Mr Babatunde Sule, said that though the Federal Executive Council in the administration of Muhammadu Buhari approved the contract, the process of the award was wrong.

According to him, the process that led to the approval of the contract by the previous administration was flawed.

“Last year, the FEC approved a contract. At the tail end of the last administration, the government approved five companies. I know there was a fake approval, regarding this contract. I’m also aware that it was given to five companies. I also learned that four of the companies signed an agreement, with the fifth not signing. I think that was what stalled this whole process. The process was wrong, ” he said.

Speaking earlier during his welcome remarks, the Chairman of the Committee on Shipping Services, Abdussamad Dasuki noted that the ICTN is far more than an administrative requirement but an essential tool initiated to drive transparency, security, and operational efficiency in the movement of cargo across borders.

He said “Despite its approval and the commitment of various stakeholders, progress towards implementing the ICTN has been hampered by significant challenges. Among these challenges, we believe, are the bureaucratic delays and competing interests among agencies, limited coordination between key stakeholders, and the duplication of contracts awarded for its implementation.

“Today’s gathering is an opportunity to tackle these issues head-on. Our goal is to identify the root causes of these delays, address conflicted interests, improve revenue generation by plugging the loopholes that allow illicit cargo, such as arms and drugs, to slip through our ports, and ultimately unlock the potential of the ICTN to bring Nigeria’s maritime industry in line with global best practices.”

ICTN is a mandatory loading document for all shipments to Nigeria determined as a regulation in 2019.

According to the law, every cargo that has been purchased from abroad and transported for commercial, business, in some cases, diplomatic and personal purposes requires a Loading Certificate, otherwise known as ICTN.