It will be gradual,” Akutah said. He emphasised that the adjustment would not come as a shock to the economy, noting that some shipping companies had already commenced consultations and partial implementation. The NSC boss also disclosed that earlier tensions were partly linked to the actions of a particular operator, explaining that while shipping companies had proposed increases ranging between 150 and 200 per cent, the NSC settled for 30 per cent to strike a balance between industry sustainability and economic stability.
“Shipping companies argued that 30 per cent is too low given inflation and rising operational costs, but we determined it was sufficient to avoid overburdening the economy,” he said. According to him, the NSC considered prevailing economic realities, including recent wage adjustments in the sector, before approving the increment.
Related News Agents blame NSW for port operations breakdown Seme CAC seeks border agencies’ cooperation Oyebanji's continuity agenda best for Ekiti — Commissioner Akutah reiterated that the tariff adjustments are not intended for excessive profit-making but to ensure the sustainability of the sector without placing undue pressure on the wider economy.
The 30 per cent increase is the upper limit; shipping companies may implement 10 or 20 per cent depending on the outcome of their consultations. It will be gradual,” Akutah said. He emphasised that the adjustment would not come as a shock to the economy, noting that some shipping companies had already commenced consultations and partial implementation.
He emphasised that the adjustment would not come as a shock to the economy, noting that some shipping companies had already commenced consultations and partial implementation. The NSC boss also disclosed that earlier tensions were partly linked to the actions of a particular operator, explaining that while shipping companies had proposed increases ranging between 150 and 200 per cent, the NSC settled for 30 per cent to strike a balance between industry sustainability and economic stability.
According to him, the NSC considered prevailing economic realities, including recent wage adjustments in the sector, before approving the increment. Related News Agents blame NSW for port operations breakdown Seme CAC seeks border agencies’ cooperation Oyebanji's continuity agenda best for Ekiti — Commissioner Akutah reiterated that the tariff adjustments are not intended for excessive profit-making but to ensure the sustainability of the sector without placing undue pressure on the wider economy.
Akutah reiterated that the tariff adjustments are not intended for excessive profit-making but to ensure the sustainability of the sector without placing undue pressure on the wider economy. “We need shipping companies to operate efficiently, but we cannot allow increases that could strain the entire system.
Also speaking, President of the Shipping Association of Nigeria, Boma Alabi, attributed the tariff hike to prevailing economic challenges, noting that the approved 30 per cent increase fell short of industry expectations. “The 30 per cent approved is not entirely commercial.