Save Nigeria N900bn by Implementing Cargo Tracking Note, SEREC Tells FG

Kuni Tyessi in Abuja

Sea Empowerment and Research Centre (SEREC) has urged the federal government to implement the International Cargo Tracking Note (ICTN) and save the country an estimated N900 billion annually in revenue leakages. ICTN disclosed this in a document on its policy commentary on, “The Urgent Imperative of Implementing the ICTN in Nigeria,” which was issued to newsmen by its Head of Research, Dr. Eugene Nweke, on Thursday in Abuja.

Nweke stated that when implemented, ICTN could cut cargo clearance time by 25 to 35 per cent and curb trade malpractices by 40 per cent within 18 months, boosting Nigeria’s competitiveness and credibility in the regional maritime economy.

Describing ICTN as a trade facilitation system aimed at improving transparency, security and efficiency in Nigerian ports, Nweke stated that it enabled pre-arrival processing of cargo data for faster clearance, reduced demurrage and documentation time, curbed illicit trade, closed revenue leakages as well as enhanced Nigeria’s competitiveness in global maritime trade.

He expressed concern that in spite of the Federal Executive Council’s approval of the implementation of ICTN in 2023, it was yet to be implemented.

The director stated that although various digital modernisation efforts were underway in the maritime sector, ICTN remained the key missing link needed to fully integrate trade intelligence across the system.

He emphasised that the continued delay in ICTN deployment posed critical national risks, including revenue leakage, national security exposure, reputational deficit and a fragmented digital ecosystem.

According to him, “Without this pre-verification system, Nigeria’s trade regulators would continue to operate in a reactive intelligence model, allowing room for cargo concealment, under-declaration and falsified manifests.

“Experts estimated that the delay in implementation could lead to an estimated annual loss from non-standardized cargo declarations and transhipment concealment between N800 billion and N1.2 trillion.

“The delayed implementation could also affect the smooth implementation of the National Single Window (NSW) projected for the first quarter of 2026 and the modernisation drive of the Nigerian Customs Service.”

Nweke added that with customs modernisation advancing rapidly and the NSC approaching rollout, Nigeria must not operationalise these systems without ICTN integration or risk reinforcing data fragmentation.

He stated, “Nigeria remains among the few major trading nations in West and Central Africa without an operational electronic cargo note system, affecting investor confidence in its maritime sector.

“It has also impacted the country’s compliance ratings under the World Customs Organisation (WCO) SAFE Framework of Standards and the International Maritime Organisation (IMO) International Ship and Port Facility Security (ISPS) guidelines.”