An assurance has been given to the Manufacturers Association of Nigeria (MAN) that the International Cargo Tracking Note (ICTN) platform will not become an additional fiscal burden on Nigerian shippers.
MAN was given the assurance on Monday in Lagos by the Executive Secretary, Nigerian Shippers Council (NSC), Hon. Emmanuel Jime, while engaging executives of MAN in his office in Apapa, Lagos.
Jime, said the cost will not be borne by Nigerian shippers.
According to him, the understanding of NSC is that this cost will not be borne by the Nigerian shippers, adding that the cost implication has been located in a way that doesn’t do dramatic damage to the economy. He however, said that manufacturers have their rights to seek clarification and be informed on what is to be expected as far as International Cargo Tracking Notes (ICTN) is concerned.
“The cost will be very minimal and let’s keep in mind that this cost has always been a shipping charge. It isn’t something that is really new. “Nevertheless, we have to look at the real impact this will have on the Nigerian economy,” he said.
The executive secretary highlighted the benefits of ICTN, assuring it will stop the issue of crude theft which is a huge challenge to the nation’s resources.
In his estimation, the amount of crude that has been stolen from Nigeria is enough to establish the kind of infrastructural developments the nation needs.
The NSC boss also stated that the problem of undervaluation of goods is something that can also be curbed by ICTN.
“These are some of the balancing factors that ICTN is going to bring. With these immense benefits that will come to the nation’s economy from ICTN, you will agree that there are more reasons to introduce ICTN than not to,” he argued.
Former Vice President, MAN, Lagos Zone, Chief John Aluya, had early raised concerns that the introduction of ICTN will lead to a new fiscal burden on Nigerian shippers and consequently inflated prices for imported goods.
Aluya, who is a member of the NSC Governing Board, stressed that Nigerian ports are already overtaxed as almost every regulatory issue at the nation’s ports come with additional costs.
“Manufacturers ultimate aim is to make sure that Nigeria becomes the hub of the West-African region in production; but if our port costs keep rising we will be driving away the land-locked countries from using our ports.
“We don’t pay these additional costs directly. It is the final consumer that pays because it would reflect on the final prices of our products,” he stated.
He, however expressed optimism that as the port economic regulator, NSC would be able to understand the fiscal implications and prioritize the interest of the nation.