Nigeria Loses $2.5 Billion Over ICTN Non-Implementation, Shippers Council Reports

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Nigeria has reportedly lost approximately $2.5 billion over the past five years due to the non-implementation of the International Cargo Tracking Notes (ICTN), according to Pius Akutah, Executive Secretary of the Nigerian Shippers Council. The loss, averaging $500 million annually, was discussed during an investigative hearing by the House of Representatives Committees on Shipping, Excise, Customs, Ports, and Maritime Safety.

The ICTN, established as a mandatory loading document in 2019, requires all shipments to Nigeria to have a Loading Certificate. Akutah stated that the lack of implementation has resulted in significant financial losses due to bureaucratic delays and other challenges.

Minister of Marine and Blue Economy, Gboyega Oyetola, represented by Mr. Babatunde Sule, the Director of Maritime Services, noted that while the previous administration approved the contract for ICTN implementation, the process was flawed. “There was a fake approval regarding this contract, and only four out of five companies signed agreements, which stalled the entire process,” he explained.

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The shipping industry has criticized the proposed ICTN, with Boma Alabi, Chairman of the Shipping Lines Association of Nigeria, arguing that it adds unnecessary bureaucracy to an already complicated system.

He asserted that exporters and importers can already track their goods through existing platforms.

Chairman of the Committee on Shipping Services, Abdussamad Dasuki, emphasized that the ICTN is essential for enhancing transparency and operational efficiency in cargo movement.

He acknowledged that significant challenges remain, including duplication of contracts and limited coordination among stakeholders.