In a recent development, the Nigerian Shippers Council, acting on behalf of the Federal Government, has implemented a 33 percent reduction in port terminal charges, adjusting the range from 400 percent to 600 percent for storage.

Conversely, there has been a 100 percent increase in bulk cargo charges, elevating the previous rates from 125 percent to 250 percent.

These revisions were the focal points of a meeting held yesterday, which brought together the Council’s leadership, seaport terminal operators, shipping companies, freight forwarders, and other key stakeholders.

Moreover, the meeting yielded an extension of the free storage period at terminals from three days to five days, aiming to provide shippers with more leeway and cost reductions.

Rekiya Dhikru-Yagboyaju, the Director of the Public Relations Unit of the Nigerian Shippers Council, confirmed the adjustments, highlighting that the initial proposal of a 600 percent increase in terminal charges had been moderated to 400 percent, with the intention of striking a balance between the needs of terminal operators and shippers.

Dhikru-Yagboyaju further mentioned that, in addition to the reduction in terminal charges, the stakeholders had collectively agreed on a 100 percent hike in bulk cargo charges.

A resolution issued at the end of the meeting stated: “Charges for break bulk cargo have now been adjusted from 125 percent to 250 percent. This amendment reflects the evolving dynamics of the industry and ensures equitable remuneration for the services rendered.

“We are committed to addressing any complaints regarding inefficiencies by the terminal operators promptly. This commitment is aimed at enhancing overall operations and boosting customer satisfaction.”