Nigeria suffers $2.5B loss over 5 years due to unimplemented 2019 ICTN system for shipments.

Nigeria has incurred losses of about $2.5 billion over the past five years due to the non-implementation of the International Cargo Tracking Notes (ICTN) system, a mandatory document for shipments approved in 2019. Pius Akutah from the Nigerian Shippers Council highlighted the issue, while Minister Gboyega Oyetola acknowledged flaws in the contract approval process. Critics warn that implementing the ICTN may cause additional delays in shipping.

October 28, 2024
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