Executive Secretary, Nigerian Shippers’ Council, Dr. Pius Akutah has revealed that the prolonged delay in the implementation of the International Cargo Tracking Note (ICTN) is due to failed contractual obligations from the past.
Despite the Federal Executive Council’s endorsement of the ICTN during the previous administration, efforts to execute it have been unsuccessful.
Speaking on the sidelines of the Council’s 2025-2029 management retreat, on Wednesday in Ibadan, Akutah, however, assured that the Minister of Marine & Blue Economy, Adegboyega Oyetola is working closely with relevant stakeholders to resolve all obstacles and ensure a seamless implementation process.
Akutah expressed optimism that with the minister’s intervention, the ICTN will be implemented by the second quarter of the year.
He said the ICTN implementation would not only boost government’s revenue but also improve security by profiling cargoes imported into the country,
He said, “The minister has been pushing forward for the implementation of the International Cargo Tracking Note because of the economic value it will bring to the country in terms of revenue generation and also the security of cargo that comes into the country.
“The delays in implementation were caused by some contractual obligations that were created in the past which actually did not work out. But the Honorable Minister is working with all the relevant stakeholders in ensuring that all the issues are put to rest and the implementation is very seamless.
“Nigeria is not the only country implementing the ICTN. We are actually coming behind.”
Speaking on the current state of the Nigerian Shipping and Port Economic Regulatory Agency Bill, Akutah disclosed that the bill has been passed by the House of Representatives and the Senate, and it is now awaiting presidential assent.
“At the moment the National Assembly is cleaning the bill. The process of law making is not just the passage of the bill by the chambers of the Assembly. IIt also has to go through a process of cleaning which is ongoing right now, ” he said.
Akutah said for the Council to effectively carry out it’s regulatory activities, it is targeting three streams of income in its 2025 budget if approved by the National Assembly.
These income streams, according to him, include the 2% of 7% port development levy, 1% freight stabilization fee and revenue that will accrue from ICTN implementation.
Akutah also dispelled fears by some stakeholders that the freight stabilisation fee would increase the cost of doing business at Nigeria’s seaport industry.
His words, “Our budget is based on three streams of revenue. One of it is the normal 2% of 7% port development levy which comes to us at the end of every quarter, which is grossly inadequate to run the activities of the Council.
“We are now projecting the International Cargo Tracking Note, and then the one percent freight stabilization fee. So, these will be three major streams of income that will come to the council in 2025 if the budget is actually approved by the National Assembly.
“We are looking forward to the defence that will come up sometime early next month in the National Assembly.
“The idea or the arguments that when you implement that 1% freight fee, it will amount to additional cost of doing business in the sector, is not actually the case because we have done an analysis of the cost benefits of implementing the 1% and the benefits far outweigh the cost that it brings into the sector.”