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New tax regime sparks tension in Nigeria’s maritime sector

Seven banks paid N392.53bn in taxes in first half of 2024

There is growing unease among freight forwarding practitioners in Nigeria’s maritime sector following the commencement of the new tax regime on Thursday, January 1, 2026.

Several agents disclosed that some shipping lines have already begun holding meetings to consider possible increases in freight charges, according to The Punch.

From January 1, 2026, the Federal Government rolled out a far-reaching overhaul of the nation’s tax system—one of the most significant in decades—designed to simplify taxation, drive economic growth, broaden compliance, and reduce the burden on low-income earners.

The reform forms part of a wider fiscal policy framework introduced by the Federal Government under President Bola Tinubu to modernise the tax system, boost the efficiency of revenue collection, and strengthen Nigeria’s economic competitiveness. Despite some political controversy surrounding legislative documentation, the government reaffirmed January 1, 2026, as the implementation date.

Speaking on the rollout of the tax reforms in the maritime sector, the Head of the Shipping, Air and Terminal Logistics Department at the National Association of Government Approved Freight Forwarders, Mr Ugochukwu Nnadi, disclosed that two shipping companies held meetings on Tuesday.

“They are meeting with plans to increase their freight charges because they wouldn’t like to be caught unawares. Nobody wants to be caught unawares. They haven’t implemented the law, and they have already started manipulating it, so nobody would want to be caught unawares. They are making preparations about it,” Nnadi said.

Also commenting on the issue, the Apapa Chapter Chairman of the National Council of Managing Directors of Licensed Customs Agents, Mr Abayomi Duyile, noted that the implementation of the tax policy would inevitably impact their operations.

“It is going to affect us. You know most of the money we spend on clearing goods comes with receipts, like shipping, terminal, and other charges. So when you tax such money, it is definitely going to affect us,” he said.

Duyile also opposed the planned increase in freight charges by some shipping companies.

“They want to increase, and we are saying no, that they should wait till the fourth week in January. Let’s meet and discuss with our members. If they increase, we are going to picket them, because the increment is getting too much. They did an increment last year; it is creating tension at the ports,” he noted.