Nigeria to End Container Deposit Fees
Nigeria will stop collecting container deposit fees from importers by the end of the first quarter of 2021, the Hong Kong Trade Development Council reported Aug. 25. The Nigerian Shippers Council is in talks with the National Insurance Corporation of…
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Nigeria to include the fee with “marine insurance offerings.” Nigerian importers pay more than $4.45 million (U.S. dollar value) annually in container deposits, which has “increased the financial burden” on them and led to a higher cost of doing business, the report said. They can collect a full or partial refund only after the container is returned to an authorized redemption center.