<< Back             Poser >> NSC protects N90.6bn, $1.348m for Nigerian shippers By Efe Onodjae The Executive Secretary and Chief Executive Officer of the Nigerian Shippers’ Council (NSC), Dr. Akutah Pius, says the Council protects over N90.60 billion and $1.348 million in economic value for Nigerian shippers through regulatory interventions and dispute resolution. Speaking through a representative at a media engagement with maritime editors and reporters in Lagos, he says: “Within the period under review, the Council protects over N90.60 billion and $1.348 million in economic value for Nigerian shippers and the national economy. This includes preventing N86.06 billion in unjustified demurrage payments and securing savings of N4.54 billion and $1.348 million through Alternative Dispute Resolution and regulatory interventions.” According to him, “The Council receives 558 complaints and successfully resolves 295 commercial disputes involving container deposits, demurrage, detention charges, terminal charges, cargo claims and export fraud.” He adds that the Council also records out-of-court settlements with APM Terminals Nigeria Limited, CMA CGM and Maersk Nigeria Limited over charges collected above approved tariffs. On reforms, Dr. Akutah says: “The Council harmonises bonded terminal invoice charges by reducing billing categories from 18 to six. Terminal operators are directed to display approved tariffs publicly, while shipping companies are mandated to establish holding bays outside the ports to ease the return of empty containers and reduce congestion.” He further says: “The Nigerian Port Economic Regulatory Agency Bill has been passed by both chambers of the National Assembly and is awaiting Presidential assent. The proposed law will strengthen tariff regulation, service standards, competition and commercial conduct across Nigerian ports.” According to him, the Council also secures statutory funding through the 2025 Appropriation Act and continues to support the National Single Window, the International Cargo Tracking Note and the expansion of Inland Dry Ports to improve trade and reduce the cost of doing business. Vanguard Business News	Dependence on gold remains key economic risk for Ghana – IMF cautions  Ghana's increasing reliance on gold exports poses risks to the country's economic outlook despite recent macroeconomic gains, the International Monetary Fund (IMF) has cautioned. Dangote Refinery drops PMS to N1,165/litre, diesel to N1,570/litre By Peter Egwuatu Dangote Petroleum Refinery has announced a reduction in the ex-depot prices of Premium Motor Spirit (PMS) and Automotive Gas Oil (Diesel), effective Thursday 6th of August, thereby reaffirming its commitment to providing affordable, high-quality petroleum products to the Nigerian market. The company in a statement said, under the new pricing structure, the […] IMF urges Ghana to end quasi-fiscal activities after GH¢22b domestic gold purchase losses The International Monetary Fund (IMF) has urged the Bank of Ghana (BoG) to end quasi-fiscal activities following losses recorded under the Domestic Gold Purchase Programme (DGPP). NGX Group declares N1.30 interim dividend as H1 profit jumps 146% By Peter Egwuatu The Nigerian Exchange (NGX) Group Plc has declared an interim dividend of N1.30 per ordinary share for the six months ended June 30, 2026, following a strong first-half financial performance driven by increased trading activity and higher investment income. In a statement, the Group reported that revenue surged 118 per cent to N17.60 […] Oando grows half year revenue to N2.1trn Oando Plc has recorded a 20 per cent increase in revenue to N2.1 trillion for the half-year ended June 30, driven by higher crude oil production, improved operational efficiency and cost optimisation. Bank of Ghana insists banks cut non-performing loans to 10% The Bank of Ghana (BoG) has directed commercial banks to reduce their non-performing loan (NPL) ratios to below 10 per cent by the end of 2026.