Latest Post

Shippers Council Tackles Truck Owners over 600% Rate Increase

Attributes impressive export trade records to series of regulatory interventions
The Nigerian Shippers’ Council (NSC) weekend expressed displeasure on the 600 percent rate hike by truck owners.

The Council said that it is currently holding meetings with the truck owners to stop them from collecting the new rate.

The Director, Special Duties of the Council, Ozo Ignatius Nweke who spoke on the occasion of the anniversary lectures and honours organised by Searchlight Media Concept in Lagos disclosed that the Council had been holding meetings with the relevant stakeholders to reduce the cost of hiring trucks.
Nweke who represented the Executive Secretary, Mr Hassan Bello said that truck owners have always complained of the bad state of the road as their reasons for increasing their rate.
He however assured that the Council was working on ensuring that the truck owners revert to the old rate as soon as possible.

Nweke said “Each time you have meeting on this, the truck operator will always tell you he didn’t increase because he wanted to increase.

“First, he will tell you that the roads are bad and will tell you that if you fix the roads, he will reduce the cost but the meetings have continued to see that we have a reasonable price”.

The Council also noted that the export of Nigerian commodities had been very vibrant with a whooping sum of N3.9 bn recorded in the last quarter of last year.

In a paper titled, ‘The Role of Ports Economic Regulator in Promoting Experts Trade in Nigeria’ , the Executive Secretary said the recorded value of the fourth quarter of 2017, grew by 9.35 percent over third quarter of same year and 31.27 percent increase over same period in 2016.

According to him, agricultural exports grew in value by 54.9 percent in fourth quarter of 2017 rising to N44.7 billion when compared to N16.5 billion in the same period in 2016.

Quoting the Nigerian Bureau of Statistics (NBS), Bello said raw materials in fourth quarter os last year rose to 71.7 percent more in value than fourth quarter of 2016.

He also said solid minerals, manufactured goods exports also recorded N309.25 billion in fourth quarter of 2017 while Crude oil and other oil products grew over the 2016 export figure by 57.6 percent and 57.75 percent respectively.

Bello said the increases in export trade observed were possible following series of interventions by the Ports Economic Regulator.