THE Federal Government has pledged to support the full implementation of International Cargo Tracking Note (ICTN) at Nigerian Ports.
The ICTN is a web-based technological tool that monitors cargo from port of loading to destination.
Receiving a delegation of the Ministry of Transport, led by the Director, Maritime Safety and Security, Mr. Danjuma Dauda, the Vice-President, Prof. Yemi Osibajo said the initiative is also expected to increase Government revenue.
A statement issued by the Special Assistant to the Vice-President on Media and Publicity, Mr. Laolu Akande explained that ICTN scheme had the potential to enhance government revenue being generated at the nation’s ports.
Osinbajo said: “I think that we have an opportunity to do something that will radically transform all of the things we do, especially revenues from cargoes coming into the country.’’
In his presentation, Executive Secretary of Nigeria Shippers’ Council (NSC) Hassan Bello said the scheme was primarily meant to provide accurate shipping data, monitor and verify cargo on transit from port of loading to port of destination.
According to him, when it becomes operational, it would lead to the reduction of cargo port transit time, reduction of fraud and maximisation of government revenues, improvement of risks management and security of foreign trade transactions.
He added that the maritime industry was currently generating only 10% of potential revenue, adding that there was room for improvement.
*Contact Editor through Citybusinessnews@yahoo.com