Connect with us

News

$10m Lost In Five Days Due To NXP Integration On TTP Portal, AWAEMAP Laments

Published

on

Exporters, under the aegis of the Association of West African Exporters and Maritime Professionals (AWAEMAP), have lamented colossal losses in the excess of $10 million following the introduction of NXP into the Truck Transit Park (TTP) portal which has caused severe disruptions in the export sector in just five days.

While expressing displeasure with the development, the group called the attention of the Federal Government to rectify the problematic imposition of NXP into the TTPs platform.

The group made this claim in a press statement issued on Friday, February 7, 2025, even as it stressed the need for streamlining export processes in a bid to balance the nation’s foreign trade.

According to the export group, the NXP implementation at TTPs has introduced new operational bottlenecks, delayed shipments and increasing compliance burdens.

Advertisement

“In light of this situation, we emphasize the importance of upholding the Central Bank of Nigeria’s single window platform, known as the Trade Monitoring System (TRMS) portal, as directed by the federal government.

“This system plays a vital role in consolidating oversight of various agencies involved in regulating export trade, and we strongly urge the NPA to cease practices that revert exporters to outdated protocols,” the statement signed by Olubunmi Olumekun AWAEMAP President reads.

READ ALSO: ABCON Begs CBN For Self-regulatory Status To Sanction Erring Operators

The exporters also warned that the turnaround time for exporting goods will be drastically prolonged, affecting the revenue of the government.

“The quality of perishable agricultural produce will be affected because of the delay in accessing the port terminals.

Advertisement

Meanwhile, the group observed that exports of missing vessels at seaports will become a regular occurrence as export boxes have to be gated into the terminal for at least 48 hours before departure.

READ ALSO: CBN Extends Timeframe For BDCs To Buy $25,000 Weekly From Banks To May 30

“Loss of contracts which will significantly impair our global competitiveness and Logistics Performance Index (LPI) rankings beyond measure. The mandatory requirement to obtain a Clean Certificate of Inspection (CCI) for all containers linked to an NXP before they can be gated into export terminals is impractical and it neither enhances the value of exports nor ensures the repatriation of export proceeds.

“In reality, securing a CCI before entry is operationally unrealistic, as it can only be obtained after completing several steps, including stuffing of all containers linked to the NXP, PIA’s advisory for NESS payment, issuance of the CCI, a process that typically takes several days to complete,” the group asserted.

Advertisement
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *