Maritime Reform Key to Nigeria’s $1 Trillion Economic Ambition — Shippers’ Council

As Nigeria pushes forward with its bold vision of achieving a $1 trillion economy, maritime and logistics stakeholders have warned that without urgent and strategic reforms in the sector, the target may remain out of reach.

This concern was voiced during a post-meeting talk show organized by the International Chamber of Commerce (ICC) Nigeria in Lagos, themed: “Shipping and Maritime Trade: The Backbone of International Trade.”

Speaking at the event, Executive Secretary and CEO of the Nigerian Shippers’ Council (NSC), Dr. Pius Akutah—represented by the Deputy Director of Trade Services at NSC, Ms. Adaora Nwonu—stressed the vital role of maritime infrastructure in economic transformation.

“As Nigeria aims for a $1 trillion economy, it must understand that no agenda of industrialization, export-led growth, or economic diversification can succeed without a competitive and efficient maritime and logistics system,” she said.

Akutah emphasized the NSC’s commitment to redefining regulation not merely as control but as a tool for empowerment, transparency, and investor confidence. He called for deeper collaboration between the government, private sector, and development partners to build a maritime sector that supports both current economic needs and Nigeria’s future role as a regional and global trade leader.

He also extended an invitation to ICC Nigeria to partner with the NSC in advancing shared goals of fair trade, logistics efficiency, and private sector development. “Together, we can strengthen Nigeria’s trade framework and align with global standards to enhance resilience and growth,” he noted.

Highlighting the Council’s recent achievements, Akutah revealed that in 2024 alone, the NSC helped prevent the repatriation of over ₦52 billion in questionable foreign exchange claims through its Economic Regulatory Portal (ERP). Additionally, it facilitated the recovery of more than ₦2 billion for shippers and cargo owners via its Alternative Dispute Resolution (ADR) mechanism.

“Our role includes evaluating freight rates, terminal charges, and demurrage claims to ensure fairness,” he said. “We also prevent monopoly practices, protect MSMEs, and ensure service providers operate within competitive and transparent guidelines.”

These efforts, he concluded, are essential steps in shaping a maritime sector that not only supports economic transformation but also upholds global best practices.