Inflation scare over proposed 25% rise in shipping charges

Fresh concerns have emerged over the planned increase in shipping charges by shipping companies, with stakeholders warning that the development could further worsen inflation and increase the cost of goods across the country. Importers under the aegis of the Importers Association of Nigeria (IMAN), South-West Zone, said the proposed hike in shipping tariffs would place […]

Fresh concerns have emerged over the planned increase in shipping charges by shipping companies, with stakeholders warning that the development could further worsen inflation and increase the cost of goods across the country.

Importers under the aegis of the Importers Association of Nigeria (IMAN), South-West Zone, said the proposed hike in shipping tariffs would place additional pressure on businesses already battling rising operational costs and weak consumer purchasing power.

Nigeria is currently experiencing a renewed rise in inflation after months of relative stability.

The latest figures from the National Bureau of Statistics (NBC) showed that headline inflation increased to 15.69 percent in April 2026, up from 15.38 percent in March.

Currently, the clearing costs for some consignments, are estimated to stand at between N15 million and N16 million, and may rise to nearly N20 million if the new charges are approved.

Speaking after a stakeholders’ meeting in Lagos, IMAN leaders warned that higher shipping charges would inevitably translate into higher prices of imported goods, as importers would pass the added costs to consumers.

They noted that cargo clearance costs at the ports, especially at Apapa, had already become excessively high and could rise further if the proposed increase takes effect.

Speaking on the development, President of IMAN South-West Zone, Joseph Adjoko, said importers were strongly opposed to the planned increment, arguing that it would increase the financial burden on businesses and consumers already battling high prices.

Adjoko explained that the proposed hike would significantly raise the cost of clearing goods at the nation’s ports, thereby forcing importers to transfer the additional expenses to end users.

“We are rejecting the increment because it will directly affect the economy and the masses. Once clearing costs increase, the prices of goods will also go up, thereby worsening inflation,” he said.

According to him, clearing costs for some consignments, currently estimated at between N15 million and N16 million, may rise to nearly N20 million if the new charges are approved.

He further lamented that many importers were already struggling with low patronage as a result of the high cost of goods, noting that several warehouses remained stocked with unsold products.

“Our warehouses are full because there are no buyers due to the high prices of goods. Increasing the charges again will only make the situation worse,” Adjoko stated.

The IMAN president also accused shipping companies and the Nigerian Shippers’ Council of failing to adequately engage importers before proposing the increase.

He claimed that importers, who ultimately bear the cost of shipping charges, were excluded from crucial discussions on the issue.

“We asked them to provide templates showing how they arrived at the charges, but they could not provide any. Yet importers are expected to pay,” he added.

Adjoko maintained that although global developments and conflicts could influence shipping costs, stakeholders deserved proper explanations on the basis for the proposed increment.

“There is no doubt that global conflicts may affect shipping operations, but stakeholders need to know exactly how the figures were arrived at and what costs are being transferred to importers,” he said.

He also criticised the practice of transferring the cost of managing empty containers to importers after delivery of goods.

Responding to the concerns, spokesperson for the Nigerian Shippers’ Council, Rebecca Adamu, said the matter had already drawn the attention of the Senate committee following complaints from exporters and other stakeholders in Apapa.

According to her, the Council is only serving as a mediator between shipping companies and stakeholders, while the National Assembly committee continues consultations on the issue.

“The Council is not the final decision-maker in this matter. It is essentially between the shipping companies and the stakeholders,” she stated.

“We are awaiting the outcome of the ongoing consultations. At this stage, the issue is now before the National Assembly committee,” Adamu added.