Nigerian Ports Authority increases port tariffs by 15% after 32 years

  Nigerian Ports Authority (NPA) has announced a 15% tariff increase, marking the first adjustment in 32 years. 

 

The announcement was made on Thursday in Lagos during a stakeholders’ engagement for the implementation of the approved tariff hike.

NPA Managing Director Abubakar Dantsoho, represented by the Executive Director of Marine and Operations, Olalekan Badmus, explained that the agency had maintained the same rates for over three decades despite significant economic changes. These include fluctuations in exchange rates, rising wages, increases in fuel and lubricant costs, and inflation.

 

The tariff increment is expected to affect all NPA operations across the board, with the agency emphasizing the necessity of the adjustment to keep up with current economic realities.