Financial Energy Review
As a result of the recent lockdown announced by President Muhammadu Buhari on Sunday, April 12, 2020, the management of Nigerian Ports Authority (NPA) has directed all Terminal operators to extend the suspension of all applicable terminal storage fees on consignments(demurrage)for another fourteen days effective April 13, 2020.
A statement issued by Jatto A Adams, General Manager, Corporate and Strategic Communications on Friday explained that the gesture is in recognition of the pressure that the COVID-19 pandemic imposes on businesses, “the responsibility imposed on the Authority to relief this burden on its customers as well as attaining the objective of the Federal Government’s Ease of Doing Business Policy at this trying period”.
The statement added:”The Authority states that compensation to terminal operators will be as spelt out in its April 8, 2020 letter to the terminal operators.
“The authority will not tolerate any form of non-compliance with directive and not hesitate to apply the appropriate sanctions.The NPA thanks all stakeholders for their cooperation”.
