Economy
Nigeria Shippers’ Council urges dialogue as freight forwarders protest MSC tariff hike
The Executive Secretary of the Nigerian Shippers’ Council, Akutah Pius, has urged freight forwarders to adopt dialogue rather than protests, following the picketing of the Mediterranean Shipping Company (MSC) offices over increased tariffs.
What happened
Freight forwarders staged a protest at MSC offices in response to recent hikes in shipping line charges, describing the increases as unacceptable.
Efforts by the Shippers’ Council to open discussions with the protesters were rejected, as the aggrieved group insisted there was “no basis for dialogue”.
The protesters also vowed to continue their action until the tariff increase is reversed.
‘Dialogue is the best solution’
Reacting to the situation, Mr Akutah stressed that negotiation remains the most effective way to resolve disputes in the maritime sector.
“Dialogue remains the most effective and modern dispute resolution mechanism… faster, more humane, and more productive than a bottled anger approach,” he said.
He warned that prolonged industrial action could disrupt port operations and affect trade flows across Nigeria.
Why it matters
Nigeria’s ports are central to imports, exports, and supply chains across West Africa.
Any disruption in port activities can lead to delays, higher costs for businesses, and inflationary pressure on consumers.
Industry analysts say frequent disputes between shipping companies and freight forwarders could weaken investor confidence in the maritime sector.
Concerns over protest conduct
While acknowledging the right of stakeholders to express grievances, the Council criticised some actions taken during the protest.
Mr Akutah described as “unprofessional” the blocking of regulators from accessing MSC premises to mediate the dispute.
Previous intervention
The Council revealed that it had intervened in a similar protest weeks earlier, compelling MSC to suspend the disputed charges temporarily.
The charges were halted for two days while negotiations were ongoing, according to the Council.
What’s next
The Shippers’ Council says it remains committed to mediating between shipping companies and freight forwarders.
Mr Akutah reiterated the regulator’s role in ensuring fair practices and maintaining stability in Nigeria’s maritime industry.
However, with freight forwarders threatening to continue protests, tensions in the sector may persist in the coming days.
Economy
Nigeria Customs, UK HMRC deepen partnership to boost trade, fix data gaps
The Nigeria Customs Service (NCS) and His Majesty’s Revenue and Customs (HMRC) have agreed to strengthen cooperation aimed at improving trade facilitation and digital border management between both countries.
The agreement followed a high-level meeting held in London on 18 March 2026 under the Nigeria–UK Enhanced Trade and Investment Partnership (ETIP), on the sidelines of President Bola Ahmed Tinubu’s state visit to the United Kingdom.
Officials say the move could help address long-standing inefficiencies in trade processes while boosting transparency across the Nigeria–UK trade corridor.
Why it matters
Trade experts say improved customs collaboration can reduce delays, curb fraud, and increase government revenue.
At the centre of discussions was a significant mismatch in trade data between both countries.
According to official figures, about £504 million worth of UK goods were recorded as imports into Nigeria in 2024, while the UK reported exports to Nigeria at around £1.7 billion for the same period.
This gap, described as “structural”, raises concerns about under-reporting, compliance issues, and inefficiencies in data systems.
To tackle this, both countries are exploring a pre-arrival data exchange system, which would allow customs authorities to share shipment details in real time before goods arrive.
Experts say such systems can improve risk assessment, reduce smuggling, and speed up cargo clearance.
What officials said
Leading the Nigerian delegation, the Comptroller-General of Customs, Bashir Adewale Adeniyi, stressed the importance of collaboration.
“Effective customs cooperation remains a critical enabler of economic growth and sustainable trade development,” he said.
He added that both countries share “a long-standing economic relationship supported by active trade across key sectors, including industrial goods, agriculture, energy, and consumer products.”
On her part, HMRC’s Head of International Customs and Border Engagement, Megan Shaw, highlighted the need for stronger operational ties and data transparency to improve trade outcomes.
Focus on digital border management
Both sides also shared updates on their modernisation programmes, with the UK showcasing advanced tools such as:
Artificial intelligence-driven trade systems
Digital verification platforms
Real-time data analytics
These technologies are expected to support faster and more secure border operations.
The discussions also produced key outcomes, including:
Plans for a Customs Mutual Administrative Assistance Framework
Technical groundwork for capacity-building and knowledge exchange
Creation of a joint technical engagement mechanism under ETIP
Industry and economic impact
Analysts say the agreement could significantly improve Nigeria’s trade competitiveness.
Better data alignment may:
Increase investor confidence
Improve revenue collection
Reduce trade bottlenecks
For businesses, faster customs clearance and predictable processes could lower operational costs and improve supply chain efficiency.
What’s next
The Nigeria Customs Service says it will integrate insights from the engagement into its ongoing modernisation drive.
Officials say the reforms align with Nigeria’s broader economic agenda, including efforts to improve trade transparency and ease of doing business.
Stakeholders will be watching closely to see how quickly the proposed data-sharing systems and digital tools are implemented.
Economy
Tin Can Port generates ₦120.4bn in February as Customs boosts revenue drive
The Tin Can Island Port Command of the Nigeria Customs Service (NCS) says it generated ₦120.4bn in February 2026, marking a sharp increase from the ₦103.6bn recorded in the same period last year.
The figures point to a year-on-year rise of more than ₦16.8bn, reinforcing the port’s position as one of Nigeria’s top revenue-generating hubs.
Why it matters
The increase comes at a time when Nigeria is seeking to boost non-oil revenue and strengthen fiscal stability.
Ports like Tin Can Island play a key role in trade facilitation, customs duties collection, and enforcement against smuggling—areas critical to the country’s economic growth.
Leadership and reforms drive growth
Customs officials attributed the performance to reforms led by Customs Area Controller, Frank Okechukwu Onyeka.
They say efforts to block revenue leakages, improve compliance, and strengthen operational discipline have contributed to the results.
“The Command generated a total of ₦120,462,054,345.72 in February 2026,” officials said, describing it as a significant improvement on 2025 figures.
Authorities also highlighted increased use of technology, improved cargo clearance processes, and stronger monitoring systems as key drivers.
Impact on trade and economy
The rise in revenue reflects not only higher trade volumes but also tighter enforcement of fiscal policies.
Economists say sustained improvements at major ports could help Nigeria reduce dependence on oil revenues while strengthening public finances.
Efficient port operations may also lower the cost of doing business and improve Nigeria’s competitiveness in regional trade.
What’s next
Customs authorities say they plan to sustain the momentum through continued reforms, stronger stakeholder engagement, and enhanced surveillance systems.
If the current trend continues, analysts believe the Tin Can Island Port Command could exceed its annual revenue targets in 2026.
Economy
Nigeria Customs Seizes ₦1.35bn Contraband in Ogun, Hands Over Drugs to NDLEA
The Ogun 1 Command of the Nigeria Customs Service (NCS) says it has seized contraband goods worth ₦1.35bn during a series of anti-smuggling operations carried out over the past six weeks.
The interceptions include food items, drugs, fuel, and wildlife products, highlighting ongoing efforts to curb illegal trade along Nigeria’s borders.
What Was Seized
Customs officials said the seized items include 1,204 bags of foreign parboiled rice, equivalent to two trailer loads.
Also recovered were 2,547 parcels of cannabis sativa, alongside 545 kegs of Premium Motor Spirit (PMS) totalling 13,625 litres.
Other items include imported sugar, used clothing, tyres, perfume oil, and two vehicles.
Four live pangolins were also intercepted and handed over to a wildlife conservation group.
Why It Matters
Smuggling remains a major challenge to Nigeria’s economy, affecting local industries and government revenue.
Authorities say illegal imports, especially food and petroleum products, create unfair competition for local producers and can pose health and safety risks.
The seizures also highlight environmental concerns, particularly with the illegal trafficking of endangered species like pangolins.
Customs: ‘Strong Signal to Smugglers’
Speaking to journalists, the Customs Area Controller, acting Comptroller Oladapo Afeni, said the operations send a clear warning to those engaged in illegal trade.
“The seizures send a strong signal to individuals unwilling to embrace legitimate trade,” he said.
He added that the command would continue to enforce regulations aimed at protecting Nigeria’s economy.
“By removing these illicit goods from the market, we are ensuring a competitive trade environment that protects our local vegetable oil industry and safeguards the health of our citizens.”
Major Interceptions Along Agbara Axis
Mr Afeni said one of the key operations took place on 11 March 2026 around the Agbara axis.
Officers intercepted a truck carrying 2,539 kegs of vegetable oil, each containing 25 litres.
“Preliminary investigations revealed that the items were smuggled through the creeks in small consignments. A full investigation is ongoing,” he said.
Earlier, on 4 March, officers also intercepted a truck loaded with 4,325 cartons of foreign spaghetti, each weighing 10kg.
Officials say the trend points to increasing attempts to smuggle essential commodities into the country.
Drugs and Cultural Items Handed Over
The command confirmed that some seized items have been transferred to relevant authorities.
A total of 2,547 parcels of cannabis sativa have been handed over to the National Drug Law Enforcement Agency (NDLEA) in Idiroko.
The consignment includes 2,055 coconut-sized parcels weighing 710kg and 15 bread-sized parcels weighing 381kg.
Two antiquities recovered during the operations have also been transferred to the National Museum in Abeokuta for preservation.
What’s Next
Mr Afeni said the command would intensify its crackdown with support from the Comptroller-General of Customs.
“I want to assure the general public that the command… will do all it takes to ensure that smuggling of vegetable oil and other prohibited items suffocates and eventually collapses.”
He added that intelligence-led operations and surveillance would continue to keep smugglers “one step behind”.
“Through high-level intelligence and strategic monitoring, we are always one step ahead of economic saboteurs.”
Public and Industry Perspective
Economists say sustained enforcement could help stabilise local markets, particularly for agricultural and manufacturing sectors.
However, some traders warn that enforcement must be balanced with policies that address supply shortages and high import costs.
Customs officials also commended members of the public and the media for supporting anti-smuggling efforts through information sharing and responsible reporting.
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