BREAKING: Exporters decry $10m losses over NXP integration at TTP

Association of West African Exporters and Maritime Professionals (AWAEMAP) says its members recorded over 10 million dollars in losses due to Nigeria Export Proceeds (NXP) integration into the Truck Transit Park portal.

The president of the association, Mrs Olubunmi Olumekun, said this in a statement made available to newsmen in Lagos on Friday.

Olumekun stated that the introduction of NXP had caused severe disruptions in the export sector within five days of its implementation.

While expressing displeasure with the development, she called on the Federal Government to look into the matter.

Olumekun stressed the need for streamlining export processes to balance the nation’s foreign trade.

According to her, the NXP implementation at TTPs has introduced new operational bottlenecks, delaying shipments and increasing compliance burdens.

“In light of this situation, we emphasise 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.

“AWAEMAP urges the Nigeria Ports Authority to cease practices that revert exporters to outdated protocols,” Olumekun said.

Exporters also warned that the turnaround time for the exporting goods would be drastically prolonged, affecting the revenue of the government