Abuja: The Sea Empowerment and Research Centre (SEREC) has highlighted the significant financial benefits of implementing the International Cargo Tracking Note (ICTN) in Nigeria, estimating that it could save the country an estimated N900 billion annually in revenue leakages.
According to News Agency of Nigeria, SEREC disclosed this information in a policy commentary document titled “The Urgent Imperative of Implementing the ICTN in Nigeria,” released by Dr. Eugene Nweke, the Head of Research at SEREC. Dr. Nweke emphasized that the ICTN could reduce cargo clearance time by 25 to 35 percent and curb trade malpractices by 40 percent within 18 months, thus enhancing Nigeria’s competitiveness and credibility in the regional maritime economy.
Dr. Nweke described the ICTN as a trade facilitation system designed to improve transparency, security, and efficiency at Nigeria’s ports. The system allows for pre-arrival processing of cargo data, leading to faster clearance, reduced demurrage and documentation time, curbed illicit trade, closed revenue leakages, and enhanced global maritime trade competitiveness.
The Nigerian Shippers’ Council (NSC), under the supervision of the Federal Ministry of Marine and Blue Economy, is tasked with implementing the ICTN, in collaboration with the Nigeria Customs Service (NCS), the Nigerian Ports Authority (NPA), and the Nigerian Maritime Administration and Safety Agency (NIMASA). Despite Federal Executive Council approval in 2023, implementation has yet to commence, raising concerns about potential revenue losses from non-standardized cargo declarations.
Dr. Nweke warned that the delay could result in significant annual losses of between N800 billion and N1.2 trillion. He cited examples of Ghana, Senegal, Ivory Coast, and Angola, where ICTN adoption led to an 18 to 22 percent rise in customs revenue and a 30 percent reduction in port clearance delays within two years.
He further noted that the delayed implementation could obstruct the National Single Window (NSW) rollout projected for early 2026 and the ongoing modernization of the Nigerian Customs Service. Dr. Nweke urged the government to recognize the ICTN as a strategic enabler, crucial for integrating trade intelligence and ensuring the success of other reforms.
Despite ongoing digital modernization efforts in Nigeria’s maritime sector, Dr. Nweke stressed that the ICTN remains the critical missing link for fully integrated trade intelligence. He warned that continued delays in ICTN deployment pose significant risks, including revenue leakage, national security exposure, reputational deficits, and a fragmented digital ecosystem.
Dr. Nweke concluded that the absence of verifiable pre-shipment data undermines Nigeria’s ability to detect high-risk or illicit consignments and jeopardizes investor confidence in the maritime sector. The delay also affects the country’s compliance ratings under international frameworks such as the World Customs Organisation SAFE Framework of Standards and the International Maritime Organisation International Ship and Port Facility Security guidelines.