Maritime Sector: A Cornerstone of Nigeria’s Economic Growth – Minister Oyetola
Ibadan, Nigeria – The Minister of Marine and Blue Economy, Adegboyega Oyetola, has reaffirmed the vital role of the maritime sector in Nigeria’s economic growth, describing it as a key driver of global trade and national development.
Speaking at the 2025 Nigerian Shippers’ Council Strategic Management Retreat in Ibadan, Oyetola—who was represented by Hajiya Ralthum Ibrahim, Director of Planning, Research & Statistics at the Ministry—highlighted the sector’s crucial contribution to commerce and international trade networks.
“The maritime sector is a cornerstone of our nation’s economic growth, serving as a critical link to global trade and fostering pathways for commerce that drive development,” Oyetola stated.
He commended the Executive Secretary and CEO of the Nigerian Shippers’ Council (NSC), Dr. Pius Ukeyima Akutah, and his management team for their dedication and innovative strides in the sector.
“I applaud Akutah Pius and his team for their unwavering commitment to excellence. Their annual organization of this retreat underscores their drive for progress and highlights the pivotal role we all play in advancing our economy. The relentless efforts of shippers and stakeholders in the maritime industry are truly commendable,” he added.
Cargo Tracking to Begin in Q2 2025
During the retreat, Dr. Pius Ukeyima Akutah announced that the implementation of the International Cargo Tracking Note (ICTN) will commence in the second quarter of 2025. He emphasized that Minister Oyetola has been championing the introduction of cargo tracking at Nigeria’s seaports, responding to long-standing demands from stakeholders to enhance cargo security and trade efficiency.
Akutah also addressed the One Percent Freight Stabilization Fee, explaining that its self-collection mechanism aligns with the anticipated approval of the Nigerian Port Economic Regulatory Agency (NPERA) Bill. The bill, which has already been passed by the National Assembly, is awaiting Presidential assent and is expected to enhance port efficiency upon implementation.
NSC’s Key Milestones in 2024
Reflecting on the Council’s achievements in 2024, Akutah highlighted several major milestones, including:
✅ Signing of the Condition of Service for Maritime Workers in the Shipping Sector
✅ Launch of the Operational Manual for Inland Dry Ports
✅ Hosting of the 17th International Seminar for Judges
✅ Rolling Out an Online Registration Portal for Regulated Service Providers & Users
✅ Developing an E-Regulatory Process Portal (ERPP)
✅ Enhancing Cargo Handling through Confirmation of Reasonableness for Demurrage, Freight Rates, and Charter Party Fees
✅ Recovering Billions of Naira through a Robust Complaints Handling Mechanism
✅ Introducing a Leadership Development Program to Strengthen Institutional Capacity
Strategic Planning for 2025 – 2029
Mr. Rotimi Anifowose, Director of Strategic Planning & Research at the NSC, revealed that the retreat focuses on setting the Council’s strategic direction for 2025–2029. He noted that preparations for the NPERA Bill’s implementation played a significant role in shaping the retreat’s agenda.
With these developments, Nigeria’s maritime sector continues to make strides toward improved efficiency, global competitiveness, and enhanced regulatory oversight.
Source: SweetCrude
