The Nigerian Ports Authority (NPA) has announced a 15% upward review of its port charges, citing the need for competitiveness and infrastructural development.
This marks the first tariff adjustment by the NPA since 1993.
The Managing Director of the NPA, Dr. Abubakar Dantsoho, made this disclosure during a maritime stakeholders’ meeting held in Lagos on Thursday.
He was represented by Mr. Olalekan Badmus, Executive Director, Marine and Operation, who explained the rationale behind the tariff adjustment.
“Though the NPA rates review has already been approved by the Federal Government, the management decided to meet with stakeholders on the issue out of the desire to carry everyone along,” Badmus stated.
He emphasized that the new rates were necessary to improve Nigeria’s ports, aligning them with global standards in terms of infrastructure and equipment.
“The 15% upward review which is to cut across all NPA rates and dues is premised on the urgent need to address the undesirable reality of aged and weak infrastructure,” he added.