By Philemon Amos

The Nigerian government reveals retroactive tax obligations for tanker operators who visited the country from 2010 to 2019, causing concerns within the tanker industry and leading to a decrease in ship traffic as vessel detentions become a possibility.INTERTANKO, a tanker organization, recently circulated a memo to its members, informing them about the newly introduced tanker taxes that apply to the period from 2010 to 2019. The implementation of these taxes has already had a significant effect on suezmax rates.According to the latest weekly tanker report by brokers BRS, they noted that this development also opens up the potential for additional demands covering the post-2019 period. As a result, the limited number of owners still willing to transport cargo from Nigeria are now requesting significantly higher premiums, contributing to a substantial surge in TD20 rates for shipments from West Africa to Europe, as observed by BRS.Under the administration of President Bola Tinubu, the government has granted a three-month grace period for owners to settle the newly imposed tax invoices, some of which amount to millions of dollars. Dr. Zachaeus Adedeji, the special adviser to the president on revenue, provided an update to the local media, stating that the government is committed to swiftly resolving this matter to avoid disruptions to the flow of products both within and outside the country.The government emphasized its stance on not succumbing to blackmail from non-compliant individuals who refuse to adhere to Nigerian laws. While the government has the authority to enforce the laws, they have decided against detaining or arresting any non-compliant ships or vessels to prevent unnecessary panic. Instead, the government has issued demand notices and established a technical committee to facilitate the resolution of these matters in cooperation with the concerned parties.