NSC Seeks 25% Reduction in Freight Cost

  • NSC Seeks 25% Reduction in Freight Cost

The Nigerian Shippers’ Council (NSC) has started a move that will lead to a 25 per cent reduction in shipping cost on all imported cargoes into the country, it was learnt.

Its Executive Secretary, Mr Hassan Bello said the council is currently engaging all shipping firms in the country to obtain a 25 per cent reduction in shipping cost.

The Council, it was gathered, has directed one of the shipping lines, CMA CGM to suspend the collection of $400 port congestion surcharge it unilaterally imposed on cargoes destined for the two Lagos ports.

Bello said there was need to have a regulator in the ports to ensure commensurate cost and effectiveness.

He said even though the port concession exercise has transformed the ports positively, there was need to ensure a stable and friendly price regime.

“We put our ports at the disposal of the private sector which is good. In fact, we have seen some developments, the ports were not as they used to be, we no longer have port rats, we now have a modern payment system but we need a regulator to put everybody in check and encourage competition, effectiveness.

“On the price regime, NSC is now negotiating with the shipping companies about their prices and by the time we are through, we are going to have 25 per cent reduction in shipping cost in Nigeria,” he said.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]

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