The Federal Government, represented by the Nigerian Shippers Council (NSC), has announced a significant reduction in port terminal charges, cutting them by 33 percent from the initial proposal of 400 to 600 percent of storage charges.

However, bulk cargo charges have been increased by 100 percent, rising from 125 to 250 percent.

These adjustments were the primary outcomes of a meeting that brought together the leadership of the Council, seaport terminal operators, shipping companies, freight forwarders, and various stakeholders.

One notable change that emerged from the meeting is the extension of the number of free days for cargo storage at the terminals.

This extension sees the free storage period increase from three days to five days, a move intended to provide greater flexibility for shippers and reduce overall costs.

Rekiya Dhikru-Yagboyaju, the Director of the Public Relations Unit of the Nigerian Shippers Council, confirmed these developments, emphasizing that the proposed 600 percent increase in terminal charges was scaled back to 400 percent.

The adjustments aim to strike a balance between the needs of terminal operators and the interests of shippers.

“All complaints regarding inefficiencies by the terminal operators will be addressed immediately. This commitment aims to improve overall operations and enhance customer satisfaction.