Would you like to receive notifications on latest updates of the following headlines?

NPA Releases New Requirements for Exporters

POSTED ON May 30, 2024 •   Business      BY Abiodun Saheed Omodara
Nigeria Port Authority l Credit:@NPA_Auction

The Nigerian Ports Authority (NPA) has directed exporters to fill Nigeria Export Proceeds, (NXP) form before export trucks can be allowed into the ports to drop such cargo. 

NXP form is a document that gives authorized dealers in the export value chain, information on the goods for export. 

The authorized dealers in this case include the exporter’s bank, Nigeria Customs Services, Pre-shipment Inspection Agents, etc. 

In a notice to all stakeholders titled ‘Introduction of Nigeria Export Proceeds as a prerequisite for booking export trucks on ‘Eto’ platform’, the management of the NPA through the Truck Transit Parks Limited, promoters of the ETO platform, said that transition procedures for the new policy have been completed and ready to be implemented. 

The agency also said that with the introduction of the NXP, potential exporters would be mandated NXP application numbers for their consignment before their booking on the platform can be activated. 

According to the Notice, the new arrangement is expected to improve the processing of export boxes at the Export Processing Terminals. 

Part of the notice reads: “Following NPA and government directives, and a series of stakeholders’ engagements on the introduction of Nigeria Export Proceeds, NXP, to facilitate export processing via the Eto electronic Call system, we are pleased to announce the completion of the configuration transition procedures and the readiness to commence implementation accordingly. 

With the new arrangement of NXP, all potential exporters would be mandated to provide their respective NXP application numbers for their consignment before the booking is activated. This improved procedure mandated by the NPA and the government is to ensure that the booking of export boxes to the port must be preceded by an NXP application for such consignment. 

“Furthermore, the new initiative is expected to streamline and improve the processing of export boxes at the Export Processing Terminals, EPTs, by ensuring that only export boxes whose NXP are at the final stage of approval can be released from the EPTs to the ports while trucks that are not at the final stage of the NXP process will not be released to the port until they have fulfilled this requirement as mandated by the Authority. 

“Before an export booking is made to the ETPs, the exporter must provide a valid NXP number and it is validated on the NPA, CBN,  and NXP portal before export booking can be made or validated. “Before an export is allowed to leave any EPTs, the container number is automatically checked on the NAP-CBN-NXP Portal. The NXP status of the export container must be on the final status.”

READ ALSO
German eye Nigeria's mineral wealth as foreign direct investments surge
BY Abiodun Saheed Omodara April 3, 2025 0

Ongoing initiatives to draw in Foreign Direct Investments (FDIs) seem to be bearing fruit, as certai...

READ ALSO
FG signs $174.6M agreement with UNIDO to enhance Nigeria's industry
BY Abiodun Saheed Omodara April 3, 2025 0

The Federal Government and the United Nations Industrial Development Organisation (UNIDO) have enter...

READ ALSO
FG signals tough stance on underdeveloped Oilfields, calls for strategic IOC investments
BY Abiodun Saheed Omodara April 2, 2025 0

The Federal Government expressed its worries on Tuesday about the growing number of idle and underde...

READ ALSO
Fuel prices expect to fall below N750 by Year-End - NIPSS
BY Abiodun Saheed Omodara April 2, 2025 0

The National Institute for Policy and Strategic Studies (NIPSS) has said that with Dangote Refinery...

READ ALSO
CBN's strategic policies lead to significant increase in Nigeria's Net FX reserves
BY Abiodun Saheed Omodara April 2, 2025 0

Nigeria's net foreign exchange reserves (NFER) stood at $23.11 billion at the conclusion of the prev...

READ ALSO
NSIA reports ₦3.74Trn profit, celebrating 12 years of continuous profitability
BY Abiodun Saheed Omodara April 1, 2025 0

ABUJA, Nigeria - THE Nigeria Sovereign Investment Authority (NSIA) reported generating approximately...

READ ALSO
Insurance leaders advocate for AfCFTA adoption to drive economic progress
BY Abiodun Saheed Omodara March 21, 2025 0

Stakeholders within the insurance sector have urged operators to capitalize on the African Continent...

READ ALSO
Nigeria's Debt Soars: To exceed N155 Trillion by 2025 amidst economic strain
BY Abiodun Saheed Omodara March 21, 2025 0

The United Nations Conference on Trade and Development (UNCTAD) has indicated that many countries, p...

OUR CHANNELS:

Lagos faces severe traffic chaos as Independence Bridge repairs begin after Sallah holiday
BY Abiodun Saheed Omodara April 3, 2025 0

LAGOS, NIGERIA - Lagos residents faced a challenging situation yesterday as they returned to work fo...


FG signs $174.6M agreement with UNIDO to enhance Nigeria's industry
BY Abiodun Saheed Omodara April 3, 2025 0

The Federal Government and the United Nations Industrial Development Organisation (UNIDO) have enter...


U.S. shows highest anxiety over AI Job loss amidst technological advancements
BY Abiodun Saheed Omodara April 3, 2025 0

Despite its advanced status, research indicates that the United States of America (USA) has the high...


Bayelsa communities threaten to halt oil production over security contract dispute
BY Abiodun Saheed Omodara April 3, 2025 0

BAYELSA, Nigeria - Nigeria’s struggling oil output may be on the brink of another crisis as co...


NITDA Partners Afrovision technologies to bridge job gap for Nigeria’s Tech Talent
BY Abiodun Saheed Omodara April 3, 2025 0

In an effort to tackle the ongoing challenge of job placement for Nigeria’s expanding tech tal...


Falana advocates for accountability and rule of law
BY Abiodun Saheed Omodara April 3, 2025 0

Human rights Lawyer, Femi Falana (SAN), has called on Nigerians to seek accountability from their le...


FG signals tough stance on underdeveloped Oilfields, calls for strategic IOC investments
BY Abiodun Saheed Omodara April 3, 2025 0

The Federal Government expressed its worries on Tuesday about the growing number of idle and underde...


OpenAI valuation hits $300 billion after SoftBank-led fund
BY Abiodun Saheed Omodara April 3, 2025 0

The Japanese telecommunications company, alongside a group of investors, has recently announced yet...


Fuel prices expect to fall below N750 by Year-End - NIPSS
BY Abiodun Saheed Omodara April 3, 2025 0

The National Institute for Policy and Strategic Studies (NIPSS) has said that with Dangote Refinery...


Nigeria imposes N20m fine, 10-Year Jail Term for Ponzi scheme offenders
BY Abiodun Saheed Omodara April 2, 2025 0

The Securities and Exchange Commission (SEC) has stated that promoters and operators of Ponzi scheme...


More Articles

Load more...

Menu