RateCaptain
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
Subscribe
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
RateCaptain
No Result
View All Result
Home Economy

Nigerian Ports Authority to Auction Overtime Containers to Alleviate Congestion

Stephen Akudike by Stephen Akudike
September 13, 2023
in Economy
Reading Time: 2 mins read
A A
0
Nigerian Ports Authority to Auction Overtime Containers to Alleviate Congestion
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

In an effort to address congestion and create more space at Nigeria’s ports, the Nigerian Ports Authority (NPA) has announced plans to auction containers that have exceeded their allotted time at the ports. The decision, aimed at streamlining operations and enhancing efficiency within the port facilities, follows an extensive sensitization campaign involving shipping lines, freight forwarders, and clearing agents.

The NPA’s move to evacuate overtime cargoes is a step towards decongesting Nigerian ports to facilitate smoother operations. The decision came after an inter-agency team, led by Dr. Magdelene Ajani, the Permanent Secretary of the Federal Ministry of Transportation, conducted an assessment tour on June 23. The team, comprising representatives from the NPA, the Nigerian Customs Service (NCS), and the Nigerian Shippers’ Council, observed a significant number of overtime cargoes occupying the Lagos and Tincan Island Port Complexes, as well as the Ikorodu Lighter Terminal. Over 3,200 units of overtime cars and approximately 3,295 units of overtime containers were found in these port facilities.

AlsoRead

FG Targets N800 Billion in February Bond Auction, Doubling Last Year’s Offer Amid High Borrowing Costs

Nigeria’s Headline Inflation Eases Marginally to 15.10% in January 2026, Driven by Sharp Food Price Declines

Dangote Refinery Sparks Intense Competition in Nigeria’s Petrol Market with Sharp Price Reduction

Furthermore, the NPA revealed that Nigeria’s Eastern-based ports, including Warri, Rivers, Onne, and Calabar, had a combined total of 956 overtime containers. The NPA emphasized that the port infrastructure in these areas is designed for transit purposes rather than long-term storage, as the aging overtime cargo has resulted in space constraints and deterioration of port infrastructure.

To address this issue, an all-stakeholder sensitization meeting was held on June 26, involving shipping lines, the association of freight forwarders, and clearing agents. During the meeting, it was unanimously agreed that all cargoes and containers that have exceeded their required time at the ports should be auctioned “in-situ” (in their current locations) and promptly removed from the ports. The NPA highlighted the importance of transparency and inclusiveness in the auction process, indicating that the modalities for the auction would be finalized in consultation with stakeholders.

The forthcoming auction of overtime containers by the Nigerian Ports Authority demonstrates a commitment to tackle congestion and optimize the functioning of Nigeria’s ports. By enforcing timely evacuation and removal of these containers, the NPA aims to enhance operational efficiency, create more space for incoming cargo, and improve the overall infrastructure of the ports. The collaboration with stakeholders and the focus on transparency in the auction process further underline the NPA’s dedication to resolving congestion challenges and fostering a streamlined and effective port system.

Tags: Auction processClearing agentsDecongestion effortsFreight forwardingNigerian Ports AuthorityOvertime containersPort congestionPort efficiencyPort infrastructure.Shipping industry
Previous Post

UK’s High Inflation Linked to Drop in European Immigration, Goldman Research Reports.

Next Post

Unravelling PND abuse in Nigeria’s banking system.

Related News

FG Aims to Recoup N553 Billion in Unremitted Taxes from International Petroleum Shipping Companies

FG Targets N800 Billion in February Bond Auction, Doubling Last Year’s Offer Amid High Borrowing Costs

by Victoria Attah
February 17, 2026
0

Nigeria's Debt Management Office (DMO) has scheduled a Federal Government bond auction for February 23, 2026, aiming to raise N800...

Nigeria’s Headline Inflation Eases Marginally to 15.10% in January 2026, Driven by Sharp Food Price Declines

by Stephen Akudike
February 17, 2026
0

Nigeria recorded a slight moderation in headline inflation for January 2026, with the rate falling to 15.10% year-on-year from 15.15%...

Oil Marketers Dismiss Claims of Dangote Refinery Selling Fuel in Dollars

Dangote Refinery Sparks Intense Competition in Nigeria’s Petrol Market with Sharp Price Reduction

by Stephen Akudike
February 16, 2026
0

Nigeria's downstream oil sector has erupted into fierce rivalry following a significant price cut by the Dangote Petroleum Refinery, prompting...

Nigerian Voice Subscriber Data Shows a 2.4% Decline in Seven Months

Telecom Sector Sees Dramatic FDI Surge to $208.51 Million in Q3 2025

by Victoria Attah
February 16, 2026
0

Nigeria's telecommunications industry experienced a strong revival in foreign investor confidence during the third quarter of 2025, with foreign direct...

Next Post
CBN Revokes 139 Microfinance and finance company Licenses

Unravelling PND abuse in Nigeria’s banking system.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

FG Aims to Recoup N553 Billion in Unremitted Taxes from International Petroleum Shipping Companies

FG Targets N800 Billion in February Bond Auction, Doubling Last Year’s Offer Amid High Borrowing Costs

February 17, 2026
Nigerian Equity Market Sees Impressive N1.08tn Wealth Gain Amidst Bullish Trading.

NGX All-Share Index Breaks 190,000 Barrier, Market Cap Surges by N5.1 Trillion in Single-Day Rally

February 17, 2026

Popular Story

  • Naira Surges Against US Dollar, Falls Below N1,000 Mark

    CBN Opens Official FX Window to BDCs with $150,000 Weekly Limit  

    0 shares
    Share 0 Tweet 0
  • NGX All-Share Index Surges 6.16% to Record 182,313.08 Points, Market Cap Hits N117.03 Trillion

    0 shares
    Share 0 Tweet 0
  • Brent Crude Holds Above Nigeria’s 2026 Budget Benchmark at $67.78

    0 shares
    Share 0 Tweet 0
  • Telecom Sector Sees Dramatic FDI Surge to $208.51 Million in Q3 2025

    0 shares
    Share 0 Tweet 0
  • Gold Rebounds Above $5,000 as Dollar Weakens and Geopolitical Risks Linger

    0 shares
    Share 0 Tweet 0
RateCaptain

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • Home
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Disclaimer
  • Cookie Policy
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

RateCaptain
Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
  • Manage options
  • Manage services
  • Manage {vendor_count} vendors
  • Read more about these purposes
View preferences
  • {title}
  • {title}
  • {title}
?>