The statutory functions of Nigerian Shippers' Council are as follows:
- To provide a forum for the protection of the interest of shippers on matters affecting the shipment of imports and exports to and from Nigeria;
- To encourage the formation of Shippers’ Associations all over the country;
- To provide a forum for consultation between the conference and non- conference lines, tramp-owners, the Nigerian Ports Authority and the Government of the Federation on matters of common interest;
- To negotiate and enter into agreements with Conference Lines and non-Conference Lines, ship-owners, the Nigerian Ports Authority and any other bodies on matters affecting the interests of shippers;
- To advise the Government of the Federation, through the Minister, on matters relating to the structure of freight rate, availability and adequacy of shipping space, frequency of sailings, terms of shipment, class and quality of vessels, port charges and facilities and other related matters;
- To assess the stability and the adequacy of existing services and make appropriate recommendations in that behalf;
- To consider the problems faced by shippers with regards to coastal transport, inland waterways transport and matters relating generally to the transportation of goods by water and advise Government on possible solutions thereto;
- To promote and encourage the study and research into problems affecting shippers in Nigeria;
- To arrange from time to time seminars and conferences on any matter relating to its functions in Nigeria;
- To carry out such other activities as are conducive to the discharge of its functions under this Act.
The functions of the Nigerian Shippers' Council as Port Economic Regulator are as follows:
- Provide guidelines on tariff setting in order to guide against arbitrariness;
- Monitor and enforce standards of service delivery to ensure availability, accessibility, affordability, stability, predictability and adequacy of services;
- Encourage competition and guard against the abuse of monopoly and dorminant market positions;
- Perform mediatory role among stakeholders;
- Establish accessible and modern dispute resolution mechanism;
- Regulate market entry and exit;
- Promote efficiency in the provision of port services;
- Minimise high cost of doing business and prevent its inflationary effect on the NIgerian economy;
- Encourage private sector investment inthe port sector;
- Monitor and ensure compliance by all parties with the provisions of the Port Concession Agreements.
Other functions of the Nigerian Shippers' Council are contained in the subsidiary legislations as follows:-
- The Nigerian Shippers’ Council (Local Shipping Charges) Regulations 1997.
- The Nigerian Shippers’ Council (Inland Container Depot) Regulation 2007.
- The Nigerian Shippers’ Council (Container Freight Station) Regulation 2007.