Finance Ministry halts palletisation policy

The federal government has bowed to the pressure of shippers who warned of cargo diversion if the cargo palletisation policy was implemented.
It was reported that president, Shippers Association Lagos State (SALS),Jonathan Nicol , said palletisation would increase cost of importing raw materials into the country.
He said instead of shippers to increase the cost, they would rather divert to a more attractive and cost efficient seaports in neighbouring countries.
Nicol said, “A lot of cargo will go to seaport of Cotonou because of the palletisation policy. Having very difficult import adjustment policy in Nigeria is what we don’t understand how and why at this time.
But the federal government on Tuesday announced that the implementation of the controversial palletisation policy, which was to have commenced on January 1, 2018 has been halted.
Executive secretary of Nigerian Shippers’ Council, Hassan Bello, while delivering a paper on “Ease of Doing Business and Strengthening Investors’ Confidence,” at the second edition of Multimodal West Africa Conference said that the palletisation policy has been suspended.
Responding to a question from one of the participants on palletisation, Bello confirmed that the suspension was spearheaded by the Nigerian Shippers’ Council, because of the opposition it generated after the minister of finance, Kemi Adeosun, announced the policy last year.
The Shippers’ Council boss stated that the suspension was to allow room for more discussions on the policy, even as he confirmed that the Central Bank of Nigeria(CBN) has been directed  to stop its implementation. He hinted that the suspension was a temporary one, saying that nothing had been concluded yet.
According to him, palletisation has its own disadvantages, which could not be overlooked and which its opponents have vehemently brought to the attention of government.
The Shippers’ Council boss also argued that to ensure ease of doing business in the nation’s seaports, they must be equipped with scanning machines.