The Nigerian Ports Authority (NPA) has announced a 15% increase in port tariffs, the first adjustment in 32 years. NPA Managing Director, Dr. Abubakar Dantsoho, disclosed this during a stakeholders’ meeting in Lagos, stating that the hike will apply across all port services.
Represented by Executive Director of Marine and Operations, Mr. Olalekan Badmus, Dantsoho explained that despite economic challenges such as exchange rate fluctuations, rising wages, fuel costs, and inflation, port tariffs had remained unchanged for over three decades. The increase aims to address these financial realities and ensure sustainable port operations.
Reactions to the hike have been mixed. Some stakeholders in the shipping and logistics sectors fear it will raise business costs, while others recognize its necessity given the NPA’s financial constraints.
The tariff adjustment is set to take effect in the coming months, with the NPA pledging to collaborate with port operators and shipping companies to minimize disruptions. The additional revenue will be used to upgrade port infrastructure, expand terminal capacity, and enhance cargo handling, storage, and security services.
