By Steve Agbota
The Sea Empowerment and Research Center (SEREC), has called on the federal government to speedily implement the Cargo Tracking Note (CTN) regime to enhance regime Nigeria’s international trade security and port value adding system.
In a press statement issued by Eugene Nweke on Wednesday said that from the SEREC findings, the port industry trends, tilts towards the evolving of the CTNs in cargo processing operations to incorporate new technologies and innovations, such as: Electronic CTNs, API-based CTNs and Blockchain-based CTNs.
According to him, presently, through the Nigeria Shippers Council, the Nigerian government, has approved the deployment of electronic cargo tracking notes for port operations, which is a significant step forward. Expectedly, he said the intention is to reduce delays in cargo shipment and cut costs for importers, by making the process more efficient and transparent, which is a win-win for everyone involved.
Additionally, he pointed out that the reintroduction of electronic cargo tracking notes is also seen as a way to curb insecurity and improve trade facilitation.
“By providing an accurate and reliable system in place, ports can better track and manage cargo, reducing the risk of theft, loss, or damage. This, in turn, can help to increase trust and confidence in the trade process, making it more attractive to businesses and investors.
“Unfortunately, the implementation of this approved modest industry trade security and facilitation tools seems to be delayed for reasons not communicated to the industry stakeholders. To buttress our support for this modest industry clarion call for the immediate commencement and implementation of the CTN regime in our international trading space,” he added.
While highlighting the benefit of CTN, he pointed out that the cargo tracking note is still a relevant document in the international trade and port security system, even with the introduction of modern trade facilitation tools.
He said CTN provides a standardized way of tracking and managing cargo, ensuring that it is properly declared, cleared, and released.
“In shipping operations, the CTN remains a critical component of shipping operations and industry, providing a standardized way to track and manage cargo, ensure compliance with regulatory requirements, and mitigate risks associated with cargo transportation
“Indeed, the SEREC wish to re-echoe that, the CTN is an essential document in the ports system, and its relevance is not diminished by the introduction of new technologies and systems, rather, it is deliberate embrace to port industry trends and as such it is the way to go.
“Finally, it is pertinent to state that, the Nigerian Shippers’ Council has the onerous task to introduce and manage the system in a manner that would not add to the cost of doing business at the ports. This is a crucial consideration, as the goal is to facilitate trade, not to create more barriers or expenses to the shippers.
“On this note, we call on the Federal Government, especially, the Hon Minister of the Ministry of Marine and Blue Economy to support the Nigeria Shippers Council, now the industry economic regulator to flag off the commencement of the Cargo Tracking Note implementation without further delays for port operational efficiency sake,” he said.