Exporters under the Association of West African Exporters and Maritime Professionals (AWAEMAP) have raised concerns over disruptions caused by the integration of the Central Bank of Nigeria’s (CBN) Export Proceeds system with the Truck Transit Park (TTP) platform.
The association revealed that over $10 million has been lost in just five days, attributing the setback to new bottlenecks created by the integration.
In a statement issued on Friday, Olubunmi Olumekun, AWAEMAP President, criticized the move, calling it an illegal imposition that has severely impacted Nigeria’s export sector.
CBN’s Export System Disrupts Trade
On Thursday, Trucks Transit Parks Ltd (TTP), managers of Nigeria’s electronic call-up system, announced the successful integration of the CBN Export Proceeds (NXP) system with its platform. The new system was designed to streamline export processes, ensuring better oversight and compliance.
However, exporters argue that instead of improving efficiency, the change has introduced operational bottlenecks, delaying shipments and increasing compliance burdens.
“The imposition of NXP into the Truck Transit Park portal has caused severe disruptions in the export sector, leading to over $10 million in losses within just five days,” Olumekun stated.
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Small Businesses, Agriculture Exporters Hardest Hit
The delays at port terminals have hit small and medium-sized exporters (SMEs) hardest, particularly those dealing in perishable agricultural products. Experts warn that prolonged turnaround times will affect product quality, increase export costs, and shrink profit margins for businesses.
Olumekun emphasized that the new system must be refined to avoid unnecessary setbacks, as SMEs and agribusiness exporters play a crucial role in Nigeria’s foreign trade.
“The NXP integration is slowing down exports instead of streamlining the process. We strongly urge the Nigerian Ports Authority (NPA) and relevant agencies to revisit this approach and eliminate inefficiencies,” he added.
Call for Urgent Government Intervention
AWAEMAP has called on the Federal Government to address the disruptions immediately to prevent further economic losses. The group insists that Nigeria’s trade policies should support ease of doing business, not introduce bureaucratic hurdles that stifle export growth.
Experts stress that fixing these export challenges is crucial for Nigeria’s non-oil revenue growth, job creation, and SME expansion in international markets.
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