Eromosele Abiodun

The Nigeria Employers’ Consultative Association (NECA) has commended the federal government on the side of the 4 per cent Free on Board (FOB) Customs charge.

Speaking in Lagos, the Director General of NECA, Mr. Adewale-Smatt Oyerinde stated that, “We commend the Minister of Finance and Coordinating Minister of the Economy for the demonstration of government’s commitment to grow the economy through the development of the organized private sector.

鈥淭his action, including the withdrawal of the proposed 5 percent telecom tax further affirmed the current administration’s determination not only to promote enterprise sustainability and competitiveness, but also determination to enable job creation at scale. While we commend the Government on this timely action, we urge the immediate implementation of the directive by the Nigeria Customs Service.”

Free on Board (FOB) indicates when the ownership of goods transfers from buyer to seller and who is liable for goods damaged or destroyed during shipping. FOB Origin means the buyer assumes all risk once the seller ships the product.

Speaking further, the NECA boss added, “It is instructive and important that other Agencies and Departments of the Federal and State Governments align their actions with the Renewed Hope Agenda of the administration by reversing unnecessary and cumbersome charges and levies that do nothing but add to the burden of Organized businesses, thus sabotaging the current administration’s effort at growing the economy.

鈥淣otwithstanding the Presidential directives on the suspension of the FRC Levies, the Financial Reporting Council of Nigeria continues to disobey the unambiguous directive of the President. This is not only worrisome but also unacceptable”.

Adewale averred that, organized businessesses will continue to play definitive roles in the rapid development of the Nigerian economy by promoting investments, trade, job creation and making sound economic recommendations to the Government at all levels.

Eromosele Abiodun

The Managing Director of the Nigerian Ports Authority (NPA) and President of the Port Management Association of West and Central Africa (PMAWCA), Dr Abubakar Dantsoho, has stressed the need for African countries to translate their marine comparative advantages into opportunities for the collective prosperity of their respective countries.

Dantsohowho stated this while speaking at the PMAWCA Board of Directors and Ports Statisticians Network Meetings in Luanda, Angola, added that the sustainability of Africa countries rests heavily on the sustainability of their seaports.

He added that apart from being linked by water, countries in West and Central Africa are linked by challenges and opportunities. 

According to him, 鈥淭he need to translate our marine comparative advantages into opportunities for the collective prosperity of our respective countries has never been more pressing than it is now.We must not lose sight of the fact that the demonstrated global leadership of ports in the contributions to the Sustainable Development Goals (SDGs), shows that the sustainability of the world especially Africa rests heavily on the sustainability of our Ports. 

“As I stated last week in my engagement with the PMAWCA Women Network at the NPA headquarters in Lagos, apart from being linked by water, countries in West and Central Africa are linked by challenges and opportunities and With the increasing realization of the leverage that economic cooperation confers in the international arena, we will be doing great disservice to ourselves if we fail to maximize this unity through intensified collaboration of our ports.”

He further emphasised that data remains the major driver of effective decision making in Port Management.

“Coming together with the Statisticians Network, this meeting presents a smart model for regional synergy and partnership, which this administration intends to champion, especially given that data remains the major driver of effective decision making in Port Management,鈥� he said.

Dantsho who commended President Bola Tinubu for creating the Marine and Blue Economy Ministry, said the creation of the Ministry has made implementation of audacious plans for the sector easier.

“With the visionary creation of the new Ministry of Marine and Blue Economy which has re-energized our resolve to invest more in sector-specific talent development order to harness more ideas from operational think tanks such as the PMAWCA.

“The administration of His Excellency President Bola Ahmed Tinubu has made the implementation of our audacious plans easier with the visionary creation of the new Ministry of Marine and Blue Economy which has re-energized our resolve to invest more in sector-specific talent development order to harness more ideas from operational think tanks such as the PMAWCA,鈥� he said.

Eromosele Abiodun

The Minister of State for Industry, Senator John Enoh, yesterday in Lagos said the federal government has resolved to turn years of planning into measurable progress, by reviving industries, boosting private sector confidence and delivering jobs to Nigerians.

Enoh disclosed this during the opening ceremony of a two-day technical session to re-energise the country’s industrial ambitions, convened by the Federal Ministry of Industry, Trade and Investment.

The event, with the theme, 鈥淔rom Activities to Outcomes: Driving Industrial Renaissance,鈥� brought together members of the Industrial Revolution Work Group (IRWG), a key delivery engine designed to convert Nigeria鈥檚 industrial blueprints into tangible results.

According to him,Nigeria was fast moving beyond the era of policy pronouncements with little follow-through. 

The current administration, he stated, is actively working to restore private sector confidence and revive moribund industries, in an effort to reawaken the country鈥檚 industrial potential. 

He noted that the wave of industrial shutdowns and closures has started to decline, pointing to signs of recovery driven by increased private sector optimism and government actions aimed at rebuilding trust in the economy.

Ehoh added, 鈥淲e are not here for symbolism or routine talk-shops. We are here because something must shift permanently and decisively in the way we pursue Nigeria鈥檚 industrial ambition. Success cannot be measured by the size of our communique or the elegance of our presentations. It must be measured by the systems we fix, the industries we revive, the jobs we create and the lives we impact.鈥�

He said the theme of the session captures the urgency of the moment, just as he explained that the Industrial Revolution Work Group was not created as another advisory body, but as a delivery-driven platform designed to fast-track industrial execution. The forum, he said, is focused on identifying practical, high-impact interventions that can be implemented quickly and scaled over time to create sustainable change across the industrial landscape.

Speaking to newsmen on the side-line of the session,he said Nigeria鈥檚 long-awaited National Industrial Policy would be unveiled soon.

He said the current document, a draft, though usable, does not totally capture the exigencies of the moment.

He promised that a full-fledged, updated policy, reflective of current economic realities and nourished with relevant stakeholder input, will soon be finalised and presented. 

鈥淭his policy will not sit on a shelf. It will be a working document that speaks directly to the challenges of energy insecurity, weak infrastructure, regulatory bottlenecks and the need for a globally competitive manufacturing sector,鈥� he said.

He further noted that while Nigeria has in the past committed over $2 billion to initiatives like the backward integration programme in the sugar industry, such efforts must now be underpinned by a coherent and enforceable national strategy. 

The upcoming industrial policy, he assured, would be designed to mobilise capital, unlock long-term financing, address infrastructure gaps and drive local content utilisation, especially in raw material sourcing.

Enoh also highlighted the administration鈥檚 commitment to the 鈥淣igeria First鈥� policy, a presidential directive aimed at strengthening patronage for locally produced goods and services. 

He revealed that even before the official pronouncement by the President, his office had already been working in that direction. He cited Ogun State鈥檚 initiative mandating civil servants to wear adire fabric once a week, which has led to a resurgence in the indigenous textile industry, as a model worth replicating at the national level. 

Plans are already underway, he said, to launch a nationwide campaign that champions local content and industrial pride.

Enoh challenged participants to focus their discussions on clear, time-bound outcomes. 

鈥淎s we break into thematic sessions, I urge everyone to think in terms of execution,鈥� he said. 鈥淲hat can we implement in 90 days, in six months, in one year? How do we move the needle now, not in theory, but in measurable actions?鈥�

He urged the working groups to craft bold, catalytic proposals that can unlock value quickly and be monitored for results. 

鈥淭his must be the beginning of a new ethos, one that rejects passive commentary and embraces agile execution,鈥� he said. 鈥淭he Nigerian people are watching. Investors are watching. The future of our industrial sector depends not on how much we say, but on how much we deliver.鈥�

The IRWG, according to Enoh, will remain a permanent engine room for results, driving reform, enabling manufacturing growth, and ensuring that Nigeria鈥檚 long quest for industrialisation finally translates into real-world impact.

Eromosele Abiodun

Association of Maritime Truck Owners (AMATO) and the Lagos State Trucks and Cargo Operators Committee (LASTCOC), have strongly condemned what they described as campaign of calumny aimed at discrediting the Nigerian Ports Authority (NPA) electronic call-up system popularly called  鈥楨to鈥�.

The truckers who stated this during a peaceful solidarity rally at the Apapa ports, unanimously declared their vote of confidence in the 鈥楨to鈥� system. The demonstration underscored the system鈥檚 significant positive impact since its introduction by the NPA.

Speaking, the Secretary General of AMATO, Mohamed Sani Bala, said truckers are fully in support of the electronic call-up system adding that the electronic call-up initiative has tackled the perennial Apapa gridlock and Tin-Can port access roads.

According to the frontline trucker, the Eto Call-up System is not just an app but a game-changer and a landmark achievement in the history of Nigeria鈥檚 maritime logistics. 

He stated further that the impact of eliminating gridlock and improving traffic flow along logistics corridors has made import and export cargoes evacuated seamlessly.

According to him, “On behalf of the trucking community, we wish to use this peaceful rally as a platform to express our profound gratitude to the management of NPA for the deployment of the Eto Call-Up System, and to also appreciate the Lagos State Government for its vital role in enforcing compliance with the Standard Operating Procedures that underpin the system.

“The Eto Call-Up System is more than just an app 鈥� it is a game-changer and a landmark achievement in the history of Nigeria鈥檚 maritime logistics. It has ushered in a new era of automation, transparency, and efficiency in port access and truck scheduling, resolving the long-standing chaos and gridlock that plagued the Apapa and Tin Can Island logistics corridors for decades.”

He added, “Today, truckers can book port access slots remotely and affordably, from anywhere in the world, without the need to physically queue for days on end or engage with road cabals for access tags that used to cost between N250,000 and N300,000, often without any certainty of progress. The Eto system, at a flat rate of N21,500, has eliminated the extortion and exploitation that defined the manual era.”

Speaking further, Sani-Bala said the port corridors are now more fluid, the environment is more hospitable, with a rising value of properties.

“Gridlock has eased, and sanity has returned to our roads and truckers no longer sleep in vehicles or die behind the wheel from exhaustion. Port corridors are now more fluid, and the environment is more hospitable.

“Import and export cargoes are evacuated seamlessly while businesses now operate on schedule. Apapa, once a ghost town, is vibrant again, with rising property values and restored community life.Children can now safely attend school without being stranded in traffic. This is the kind of transformational impact that meaningful reform delivers,鈥� he said.

The AMATO scribe took a swipe at the recent campaign of calumny against the call-up system, saying the interest of the sponsors of the campaign lies in reversing the clock to a time when truckers were extorted and exploited under the guise of port access facilitation.

“We are aware that some individuals are sponsoring a campaign of calumny against the Eto system. Let it be known that these detractors are largely beneficiaries of the discredited manual system 鈥� now rendered irrelevant by automation. Their interest lies in reversing the clock to a time when truckers were extorted and exploited under the guise of port access facilitation.

“It is ironic, and frankly shameful, that those who once charged N250,000鈥揘300,000 for truck entry now accuse the N21,500 Eto system of being fraudulent. If they truly had truckers’ interests at heart, they would have implemented a fair and transparent system during their time.

“We urge all members of the trucking community to remain vigilant. The call-up automation is here to stay 鈥� and we must resist all attempts to undermine the progress it represents. The manual call-up system is dead and buried, and any nostalgia for that era must give way to the reality of sustainable, tech-driven port logistics,鈥� he said.

Eromosele Abiodun

The Nigeria Customs Service (NCS), Federal Operations Unit,  Zone 鈥楢鈥�, has announced the seizures of 11 used vehicles,1,665kg of Cannabis Sativa; 4000 litres of premium motor spirit; Bullet Proof vestss amongst others, in Ogun, Lagos and other states within the South Western region of the country.

Addressing newsmen in Lagos, Customs Area Controller of the Unit, Controller Mohammed Shuaibu explained that the entire seizure is valued at N1.2 billion.

According to him, “On the 23rd and 24th of May 2025, at about 0300hrs and 0230hrs, our patrol teams within Lagos metropolis acted on intelligence intercepted and seized 2X40FT containers with containers numbers (MSCU 5295718 and MRSU 5856090) respectively along Ijora-Olopa, and mile 2 axis. 

“The examination reports of these containers revealed the following contents: Seven Mitsubishi Canters, Five Toyota Hiace Buses, and Three Mini Shuttle Buses all cut up with their parts complete with clear intention of evading Customs duties. “Other items include used bicycles, 312, Bales of printed wax, 23 Bales of used clothing, 42 used gas cylinders, and 30 used flat screens televisions, 65 table top cookers, and 31 unit of used split air conditioning among others. The importation of these items contravenes schedule 4 of the common external tariff. 

“Similarly, on the19th of May 2025 at about 0300hrs hours another patrol team intercepted a Volvo truck and investigation revealed to contains 1263 pieces of used tyres and other goods. One suspect was also arrested.鈥� 

He added, “In the same vein,  on the 19th of May 2025 at about 2300hrs, our officers on a routine patrol along Shagamu/Ijebu-Ode express way in Ogun State, intercepted one truck with registration number T24623LA suspected to be conveying uncustoms goods including Bullet Proof vests. Again, an investigation report revealed the content to include some packages of Tramadol. 

“Furthermore, on the 26th of May 2025, at about 0600hrs, through intelligence-driven operations, our men on the Ijebu-Ode patrol team arrested one empty Mercedes Benz truck. Thorough rummaging of the truck and careful observation by our officers which led to uncover concealment of Cannabis Sativa (India Hemp) in the compartments of the truck. One suspect was arrested in connection with the seizure.鈥�

“Additionally, our patrol teams around the borders areas across the six (6) states of the Southwest have intensified surveillance of our borders against unscrupulous elements among Nigerians, resulting in several seizures of rice, Cannabis Sativa, used cars and other goods in a flash points of Imeko, Ilaro, Owode, Idiroko, Ilara,  Ihumbo,Abeokuta, Badagry,  Agbara,  Gbaji, shaki and Iseyin in Oyo state. 

“In all, 46 interceptions were recorded during this two (2) weeks of operations comprising the following: Rice 2051X50kg each of foreign parboiled rice equivalent to four trailer loads; 11 used vehicles, popularly known as tokumbo vehicles; 1665kg of Cannabis Sativa; 4000 litres of premium motor spirit (PMS); One white and Black J5 commercial Bus loaded with expired goods; and one Volvo Truck containing 180 sacks of new towel. Seven suspects were arrested in connection with the various seizures, which have a duty paid value (DPV) of N1,285, 600,383.00) only,鈥� he said.

Eromosele Abiodun

West Africa Container Terminal (WACT)-APM Terminals Nigeria has received Hapag-Lloyd, one of the world鈥檚 leading liner shipping companies as it launched its service at the terminal. The launch of the new service was celebrated with a special ceremony at the WACT-APM Terminals Nigeria Onne port, marking the partnership with Hapag-Lloyd鈥檚 weekly shipping service, directly connecting East Nigeria to global trade routes.

This strategic alliance underscores the commitment of WACT-APM Terminals Nigeria鈥檚 commitment to expanding Nigeria’s maritime capabilities and solidifying its position as a vital gateway for international commerce. The new service will significantly enhance connectivity, offering increased vessel capacity, improved transit times, and greater schedule reliability for businesses operating in East Nigeria.

The CEO of APM Terminals Nigeria, Frederik Klinke, described the event as not a maiden call but the launch of Hapag-Lloyd as a shipping line in East Nigeria. He said the development is an important milestone and indication of the strong partnership that APM Terminals has globally with Hapag-Lloyd.

“This is an important milestone in East Nigeria for building its potential. We in APM Terminals have a very strong belief in the East Nigerian market. We are very proud of the partnerships that we have with our shipping line customers, now, with Hapag Lloyd being among them, and our government partners as well as the customers that we serve in East Nigeria. What we are really trying to do is to lift the East Nigerian market. There is a lot of trade potential that requires better logistic solutions.

鈥淲e have invested $115 million in this terminal over the last year, and we have created a lot of capacity that we want to bring to this market in order to make it easier to trade and for the economy of this region to grow. Getting a new shipping line is an extremely important milestone because that means incremental growth. It means additional opportunities for shippers, and it means that there are new services that are available to the people – new goods and new export markets to explore,” Klinke stated.

He expressed his excitement about the investment in WACT, noting that it has attracted additional customers to the terminal 鈥� a development he described as 鈥渁 vote of confidence.鈥� He also praised the investment as resulting in, 鈥渁 state-of-the-art terminal equipped with the most modern technology.鈥�

Also speaking, the Managing Director of WACT-APM Terminals Nigeria, Jeethu Jose, reiterated that the partnership in WACT-APM Terminals Nigeria underscores the growing trust and confidence that WACT is earning within the regional and global trade ecosystems. He also acknowledged the continued support of all the company’s stakeholders as pivotal to the company鈥檚 commitment to give the customers the best in-class service.

鈥淭oday is a remarkable day for us at WACT and, indeed, the APM Terminals Group, as we welcome our long-term customer, Hapag-Lloyd to Onne. This event is significant for many reasons; it underscores the growing trust and confidence that WACT is earning within both regional and global trade ecosystems. Secondly, it is sharp evidence that with the continued support of all our stakeholders, we are making good progress in our commitment to give our customers best in-class service and attract new opportunities to grow their businesses,鈥� he said.

Speaking about the impact of Hapag Lloyd to the business, Jose said, “As a globally respected shipping line known for excellence and reliability, Hapag-Lloyd’s maiden presence in Eastern Nigeria, here at WACT will open new opportunities across the value chain, from our landside customers to regulators. Most importantly, it will further strengthen Nigeria’s maritime and blue economy by expanding global trade connectivity and enabling local businesses to flourish.”

The Country Managing Director, Hapag-Lloyd, Himmat Ahlawat, described Nigeria as one of the most important markets while also reiterating that customer service is the biggest priority for the Hapag-Lloyd team.

He said, “We consider Nigeria as one of the most important markets if not the most important in Africa and Eastern Nigeria. Without calling Eastern Nigeria, our ambitions here will remain unfulfilled. In Hapag Lloyd, the biggest priority we have is customer service. If there are no customers and our customers are not happy, then we have no right to exist. So, our actual stated aim is to be the undisputed king of customer service. So that is something we should bring on the table, because we use a variety of digital tools to help our customers, which the rest of the market has still not started using.

鈥淣inety-five percent of our containers are tracked, we have a tracking device, which is a game changer in the industry, and this is very crucial anywhere in the world. As an European shipping line, we are very compliant, so for our esteemed government, guests, leadership present here, one thing you can be assured of is that we will not cut corners over safety, security and compliance.”

The Port Manager of Onne Port, Raymond Abdulrahman, described the new service as one of the greatest milestones achieved by WACT-APM Terminals Nigeria.

“We have another achievement which I want to quantify as one of the greatest milestone achievements once more that has been done by WACT-APM Terminals Nigeria. We all know today that they have added a liner to the fleet of liners that are coming to Onne. This can be inferred by what they have put in place. The management of Nigerian Ports Authority (NPA) is happy to collaborate with WACT and with Hapag Lloyd for bringing in the liner to Onne,鈥� Abdulrahman said.

Eromosele Abiodun

The Regional Trade Facilitation Committee (RTFC) of the Economic Community of West African States (ECOWAS), has commended the Comptroller General of Nigeria Customs Service, Bashir Adewale Adeniyi for embracing innovation to initiate the Unified Customs Management System, also known as B’Odogwu

Speaking during a  visit of the RTFC to PTML Command, which served as the pilot area for the B’Odogwu implementation, the Director of Trade, ECOWAS, Kolawole Sofola, praised Adeniyi and the PTML Command for the great achievements in trade facilitation and revenue collection recorded within the period it commenced implementing the project.

A statement issued by the Public relations officer, PTML, AT Abubakar,explained that 

the ECOWAS Director who led the team to learn about the activities of the command and get deeper insight into recent NCS activities, added that Nigeria is making gains with the deployment of modern innovations

Sofola also said the NCS is doing a great job in enabling  economic growth through trade facilitation and suppression of smuggling. 

He also lauded Controller of PTML, Comptroller Tenny Mankini Daniyan for deploying the technology to achieve greater productivity like increased revenue.

“On behalf of the President of the ECOWAS Commission, as well as the Commissioner responsible for Economic Affairs and Agriculture , I congratulate Comptroller Daniyan and his  management team for the great work that they  are doing, not only in generating revenue but  also in stopping smuggling activities and promoting trade facilitation. 

Customs Area Controller of  the PTML Command,  Comptroller Tenny Daniyan told the committee that since the inception of B’Odogwu, in November 2025 to date, the command has collected over N230 billion using the platform as at May 22, 2025.

He revealed to the commitee that B’Odogwu project was initially launched in a pilot phase at PTML Command   and because of the success story, the management of the Nigeria Customs Service rolled out the project in 34 commands across the country

He noted that the B’Odogwu platform is unique in the sense that  it is a home-grown application which was developed by the NCS officers in conjunction with the  Trade Modernization Project (TMP).

Eromosele Abiodun

The Nigerian Customs Service (NCS), Ports and Terminal Multiservices Limited (PTML) Command has said that the new technology introduced by the management of the NCS, B’odogwu, facilitated the N230 billion revenue it generated since its deployment in October 2024.

The Customs Area Controller, PTML Command, Tenny Daniyan, who disclosed this during a courtesy visit by the Shipping Correspondents Association of Nigeria (SCAN), described B鈥橭dogwu as a Nigerian digital technology that has come to change the narrative in customs operations 

He said the new technology was not without challenges, adding that over 90 per cent of the challenges have been resolved.

He commended the Comptroller-General of Customs, Adewale Adeniyi for having the confidence to go ahead with the initiative which has today become the pride of Nigeria and Nigerians.

Daniyan said, 鈥淏鈥橭dogwu is working and its working for us, we have realised over N230 billion so far on the platform. If its not working with you, it means you are not doing the right thing. We thank God all the issues have been resolved. We are posting and posting very well. Now, we can only say Yes, this is our baby. It’s our baby because we don’t need a third party to do anything for us. It is fully Nigerian, unlike the Nigeria Integrated Customs Information System (NICIS) when you have issues you will have to translate and then send to a foreign country before the problem can be solved.鈥�

He said that the platform would save the Federal Government billions of naira that would have been capital flight on NICIS.

鈥淭his means that Customs is not only helping Nigeria to realise money, but also save money,鈥� he said.

Speaking earlier, the president of SCAN, Moses Ebosele commended the CAC  for his open door policy and thanked him for the cordial relationship between PTML Customs Command and  Journalists.

Ebosele also appreciated  Daniyan鈥檚 giant stride especially in the area of revenue generation and capacity building for stakeholders.

Eromosele Abiodun

The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) and the Organised Private Sector of Nigeria(OPSN) have said Nigeria鈥檚 massive public sector deficit is the biggest threat to the federal government鈥檚 goal of transforming the country into a $1 trillion economy by 2030.

In a statement, NACCIMA President, Dele Kelvin Oye Esq., charged the federal government to adopt and implement a more rigorous public financial management strategy, emphasising the need to prioritise capital over recurrent spending, aggressively expanding the tax base rather than raising tax rates, improving expenditure efficiency, and plugging leakages across all levels of government.

According to him, “While structural reforms are essential, we must confront a hard truth: persistent public sector deficits and continual borrowing, much of it to finance recurrent expenditure, continue to crowd out private investment and exert inflationary pressures. We urge the Federal Government to implement rigorous public financial management by: prioritizing capital over recurrent spending; aggressively expanding the tax base rather than raising tax rates; improving expenditure efficiency and plugging leakages, and accelerating the sale or concessioning of underperforming public assets.”

Oye, who is also the Chairman of the Organised Private Sector of Nigeria noted, “These are critical steps not only for restoring macroeconomic stability, but for rebuilding investor and business confidence.”

He  also commended the federal government, represented by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, and the Central Bank of Nigeria (CBN) Governor, Mr. Olayemi Cardoso, for their candor in acknowledging the formidable macro-economic and social challenges currently confronting the nation, as reiterated at the just concluded IMF/World Bank Spring Meetings.

 The NACCIMA boss further applauded the government’s willingness to collaborate with development partners on job creation and youth empowerment, describing it as timely and commendable.

According to him, “We recognize the government鈥檚 laudable commitment to single-digit inflation, job creation, digital infrastructure development, and the ambition to transition to a $1 trillion economy by 2030.”

He however noted that the recently released Africa Pulse report by the World Bank is a stark reminder of the urgent threat of deepening poverty in Nigeria, with the national poverty rate projected to surge to 56 per cent by 2027, adding, “The dramatic growth in the number of Nigerians living below the poverty line, surging inflation, youth migration, and the expanded fiscal deficit, underscore the need for even faster, targeted, and pragmatic policy action.”

On key Areas of Concern and Recommendations, Oye stated, “The Central Bank鈥檚 prevailing monetary stance, with commercial lending rates hovering at 30-40 per cent, risks stifling entrepreneurship, industrial production, and agricultural expansion.

“This credit environment, while targeting inflation, paradoxically holds the productive sector hostage and suppresses the job creation and innovation capacity of the private sector. NACCIMA, therefore, calls for targeted intervention funding and special credit windows for MSMEs and strategic sectors at concessionary rates to unlock growth, employment, and food security.

On Tackling Youth Migration and Insecurity, the OPSN chairman noted that the exodus of skilled youths Japa is an ominous trend fueled by economic disenfranchisement and insecurity.

He further stated, “Immediate mass-scale public works, digital skills training, and security sector investments in the hardest-hit zones are non-negotiable. Government must ring-fence funds for youth-targeted entrepreneurship programs and rural enterprise stimulation鈥攅specially in agriculture and light manufacturing鈥攖o make staying in Nigeria a viable and attractive option.

“While monetary tightening may slow inflation, root causes鈥攕uch as food supply chain disruptions, energy deficits, over regulations, inconsistent policies, forex volatility, and excessive fiscal injections鈥攎ust be concurrently addressed. NACCIMA advocates for: – Fast-tracking strategic food importation and logistics support, – Ensuring farmers鈥� access to affordable input through targeted subsidies, –  commitment to the continous provision of Naira crude to existing local refineries, while accelerating modular refining projects to reduce fuel import dependency. We appeal for more structured dialogue with the organized private sector actors in policy design and execution, ensuring policy measures are evidence-based and context-sensitive.”

In concluding, Oye said, “Given the global shift in economic and geopolitical dynamics, with the dominance of the U.S. dollar gradually declining due to reduced U.S. global share, the overuse of dollar-based sanctions, and advancements in digital settlement systems beyond traditional mechanisms like SWIFT, it is crucial for Nigeria to recognize these changes and strategically realign its foreign policy. 

“By exploring stronger partnerships and trade ties with emerging economic blocs such as China and the BRICS nations, Nigeria can position itself as a more attractive destination for foreign direct investment. Seizing this opportunity will help diversify our economy, stimulate industrial growth, create jobs, and ultimately reduce poverty, while making Nigeria a key player in the evolving global order.

“NACCIMA acknowledges the bold steps taken  by the government under the current reforms, but the short-term socioeconomic pains鈥攊ncluding increasing poverty, joblessness, and insecurity鈥攄emand urgent, deliberate, and inclusive interventions. Nigeria cannot bank on the patience of its citizens when livelihoods are eroded and aspirations are crushed by economic hardship.鈥�

Eromosele Abiodun

Buoyed by its strong fundamentals, growth trajectory, and prospects of a brighter future, the investment community, comprising shareholders, investors, stockbrokers, and financial analysts are warming up to participate in the N200 billion Rights Issue and Special Placement of Wema Bank Plc, which is scheduled to open on April, 01 , 2025.

Already, some top notch institutional investors who are said to have taken strong position in the Nigerian oldest deposit money bank, an evidence of confidence in its future growth and development . 

In a strategic move to comply with the new capital requirement for banks by the Central Bank of Nigeria (CBN), Wema Bank has filed an application to the Nigerian Exchange Limited (NGX) to raise N149.3 billion by rights issue, offering 14.29 billion Ordinary Shares at N10.45 per share,  through its stockbrokers, Global Asset Management Nigeria Limited and Qualinvest Capital Limited. The bank is also set to mobilise N50 billion through private placement. 

The bank’s financial indices and sustained high performance on the Nigerian Exchange Limited  last year, have earned it a top rating in the nation鈥檚 ecosystem.  Wema Bank鈥檚 stock remained bullish in 2024 and emerged as one of the best-performing stocks in the banking sector in the year with a record of over 60 percent capital appreciation and 33 percent this year. 

Investment analysts view the rising profile of Wema Bank as a manifestation of its market acceptability and a product of successful reengineering of its operations and business structure as envisioned by the Moruf Oseni- led management. 

鈥淲ema Bank鈥檚 outlook remains positive with sustained growth in total asset over the years, exponential growth in profit and a very sound and dynamic leadership”, says Layi Olaleru, Executive Director, 糖心视频 Development, CSL Stockbrokers

The Chief Executive Officer,  Highcap Securities, David Adonri explained that  Wema Bank has been transformed into a viable investment grade stock,

based on its remarkably improved fundamentals.  鈥淚  believe that the bank has bright prospects and will meet investors’ expectations. The price of the issue is also attractive as it is a discount to market price. This is the time for existing investors to show commitment to their bank and through the offering,  facilitate its competitive strength,鈥� Adonri emphasised.

According to the Chief Executive Officer, Wyoming Capital and Partners, Tajudeen Olayinka, Wema Bank鈥檚 core investors must be very confident that the rights issue would succeed, and therefore pre-arrange the core funding of the rights.

With the current status of the bank and its final phase of its re-capitalisation, its national license grade has ben secured a year ahead of the CBN鈥檚 deadline. The Bank’s Managing Director, Moruf Oseni, had earlier assured shareholders and other stakeholders of a successful conclusion of the capital raise programme, saying: 鈥� Wema Bank is not just the Nigeria鈥檚 oldest indigenous bank but also Nigeria’s  leading innovative. The management is strongly focused in achieving the Bank’s strategic aspirations by building it into a formidable force in the African financial services landscape. We will keep working tenaciously to become a Systematically Important Bank, re -attain Tier-1 status, and continue to provide optimum value for every shareholder and stakeholder.鈥�

Eromosele Abiodun

APM Terminals Nigeria has announced its commitment to a sustained schedule of the Apapa-Moniya Standard Gauge, ensuring the seamless flow of cargo to and from the Apapa port to the Nigerian Railway Corporation (NRC) freight yard at Moniya, Ibadan, Oyo State.
Chief Commercial Officer of APM Terminals Nigeria, Caroline Aubert-Adewuyi, made this known on Monday in Lagos during the launch of the Apapa-Ibadan standard gauge rail service for container transportation.

She said, 鈥淭he plan for the Apapa-Moniya standard gauge rail service is that it operates like an airport conveyor belt system, receiving exports from the hinterland and evacuating imports from the port efficiently, on a fixed schedule without interruptions.鈥�
Aubert-Adewuyi highlighted past challenges with the rail service, particularly unpredictable scheduling, that made cargo planning difficult for customers.

She said, “With our revamped service, we now offer a reliable and structured schedule, departing three times a week, ensuring efficient cargo movement from Apapa to Ibadan and back. This initiative also provides a cost-effective alternative to road transport, helping to alleviate the persistent traffic congestion in Apapa, which has significantly increased logistics costs.鈥�
She also announced a simplified payment system, where customers will now make payments exclusively to APM Terminals Apapa, which will handle all necessary payments to other stakeholders in the rail service supply chain.

The Chief Finance Officer of APM Terminals Nigeria, Courage Obadagbonyi, emphasized the multi-modal strength of Apapa Port, integrating barge, road, and rail transport for enhanced cargo handling.

鈥淩esults from our 2024 fiscal year show a 43% growth in export volumes over the last two years, underscoring the positive impact of our investment in rail logistics,” he stated.
He reaffirmed APM Terminals’ commitment to long-term sustainability, ensuring the continued efficiency of the Apapa-Ibadan rail service.

He said the launch further underscores APM Terminals鈥� commitment to improving logistics services in Nigeria and active plans to further invest in the Lagos Port Complex.
NRC Managing Director, Dr. Kayode Opeifa, acknowledged the longstanding collaboration between NRC and APM Terminals in moving container traffic across Nigeria, previously utilizing the narrow-gauge line to Kaduna and Kano.

The Executive Secretary/CEO of the Nigerian Shippers Council, Barrister Pius Akuta, praised the collaboration between NRC and APM Terminals, recognizing rail transport as the most cost-effective and safest mode for shippers to move goods nationwide.  

The new service operates between the Lagos Port Complex in Apapa and the NRC Freight Yard in Moniya, Ibadan, Oyo State, offering a more efficient, cost-effective, and environmentally friendly alternative to road transportation.

It is expected to operate on a fixed schedule, with train departures from Apapa on Mondays, Wednesdays, and Fridays. Each trip will transport up to 35 wagons, carrying either 35 forty-foot containers or 70 twenty-foot containers.

Eromosele Abiodun

IFC has announced an equity investment of up to $50 million in Lagos Free Zone Company to support the development and expansion of Nigeria鈥檚 first deepsea port-based, private special economic zone, the Lagos Free Zone (LFZ).

The investment, according to a statement, is designed to address critical infrastructure gaps, attract local and global businesses, and contribute to Nigeria鈥檚 economic diversification agenda.

鈥淭he funds will support the first phase of the 860-hectare Lagos Free Zone, focusing on land development, industrial facilities, and logistics infrastructure. Owned by Singapore based Tolaram,a diversified multinational group with operations across Africa, Asia, and Europe, Lagos Free Zone s strategically integrated with the Lekki Deep Sea Port and will provide an integrated industrial ecosystem for efficient import and export operations, serving as a gateway for Nigeria鈥檚 integration into global value chains.

鈥淲ith Nigeria鈥檚 economy projected to grow by 3.7 per cent by 2026, investments in infrastructure are vital to ensuring sustainable growth. When fully occupied, Lagos Free Zone is expected to create approximately 30,000 direct, indirect, and induced jobs, while contributing significantly to Nigeria鈥檚 GDP upon completion,鈥� the statement said.

鈥淭his investment reflects IFC鈥檚 commitment to fostering inclusive economic growth and sustainable development in Nigeria. Lagos Free Zone is poised to become a transformative hub for industrial activity, driving job creation and enhancing Nigeria鈥檚 competitiveness in global markets. We are proud to partner with Lagos Free Zone  in building the infrastructure necessary to attract global and local businesses, enabling Nigeria to achieve its full economic potential.鈥漵aid, IFC Regional Director, Central Africa and Anglophone West Africa, Dahlia Khalifa.

IFC said the investment in Lagos Free Zone also reflects it鈥檚 commitment to sustainable development, 鈥渨ith a focus on green infrastructure. Approximately 15 per cent of the investment is earmarked for climate-related initiatives, including Excellence in Design for Greater Efficiencies (EDGE)-certified buildings and climate-resilient infrastructure.鈥�

鈥淚FC鈥檚 support represents a significant and positive recognition of our vision to establish  Lagos Free Zone as a world-class industrial hub. This investment allows us to scale up the existing infrastructure to attract more foreign and local tenants while promoting sustainability and creating economic opportunities for Nigeria. Lagos Free Zone, integrated with Lekki Deep Sea Port, facilitates ease of doing business in Nigeria and supports the Federal Government of Nigeria鈥檚 drive for economic diversification and infrastructure development. We look forward to driving growth and delivering lasting impact through this transformative collaboration with the IFC,鈥� Added MD/CEO at Lagos Free Zone Company, Adesuwa Ladoja.

Eromosele Abiodun

The Bureau of Public Enterprises (BPE) has commended APM Terminals Nigeria for its commitment to the core objectives of Nigeria鈥檚 port concession program and its contributions to enhancing service delivery and operational efficiency at the nation鈥檚 seaports.
As a leading port operator, APM Terminals manages Nigeria鈥檚 largest container terminal at the Lagos Port Complex Apapa.

During a working visit to APM Terminals Apapa, the Director-General of BPE, Ayodeji Gbeleyi, praised the company鈥檚 operational excellence, particularly its commitment to safety and environmental standards.

He commended APM Terminals for its work environment and the dedication of its workforce, noting that the staff appeared passionate and excited about their roles.

He further reaffirmed the federal government鈥檚 support for APM Terminals, stating that the administration of President Bola Tinubu remains committed to making Nigeria a leading maritime hub in West and Central Africa.

Gbeleyi assured that the government would continue to support concessionaires like APM Terminals to ensure collaboration in achieving this vision.

Speaking, the CEO of APM Terminals Nigeria, Frederik Klinke, highlighted the company鈥檚 significant investments in port infrastructure since acquiring the concession for the Apapa container terminal in 2006.

Klinke emphasised that the terminal now serves as a critical gateway for imports and exports in West Africa, operating with a focus on safety, efficiency, and reliability.
He disclosed that APM Terminals has invested over $435 million in infrastructure and process improvements, including the implementation of an automated gating system to enhance security, yard expansion and modernisation, acquisition of state-of-the-art cargo handling equipment, and comprehensive training programs for its workforce in Apapa.
Klinke also reaffirmed APM Terminals鈥� commitment to supporting the Federal Government鈥檚 push to diversify Nigeria鈥檚 foreign exchange earnings through increased non-oil exports.
He explained that the company had expanded its yard capacity to accommodate the growing volume of export cargo, a move that has improved efficiency, reduced waiting times, and streamlined operations.

Over the past four years, the terminal has recorded steady growth in non-oil export cargo, rising from 53,000 TEUs in 2020 to 94,000 TEUs in 2023. In addition, the terminal has enhanced its barge capacity, gate access, and dedicated export lanes to further shorten turnaround times for export containers.

Looking to the future, Klinke revealed that APM Terminals is planning an additional substantial investment to redevelop and enhance infrastructure at the Lagos Port Complex Apapa.

Eromosele Abiodun

Trucks Transit Parks Ltd (TTP), has announced the successful integration of the Central Bank of Nigeria鈥檚 (CBN) Nigeria Export Proceeds (NXP) system with its innovative 脠t貌 electronic call-up platform.

The company in a statement said, 鈥淭his strategic integration, which became effective on January 3, 2025, represents a significant collaboration between TTP, the Nigerian Ports Authority (NPA), the Central Bank of Nigeria (CBN) and other key stakeholders, aimed at modernizing & streamlining Nigeria鈥檚 export operations, enhancing transparency, efficiency, and overall operational excellence at the nation鈥檚 ports.

鈥淯nder the new regulation, exporters are now mandated to secure an approved NXP application number before booking export consignments. This requirement, endorsed by the NPA and aligned with government directives, ensures that only consignments with verified, final-stage approval proceed to export processing.鈥�

The company added that the collaborative efforts between it, the Nigerian Ports Authority (NPA), the CBN and other key players underscore a shared commitment to enhancing the export value chain in Nigeria.

鈥淭he NPA鈥檚 proactive role in shaping and enforcing these new guidelines, coupled with TTP鈥檚 innovative technological contributions, promises to establish a more secure, efficient, and competitive environment for export operations and by extension, port operations. This partnership highlights a forward-thinking approach to tackling logistical challenges and promoting sustainable economic growth,鈥� it said.

The statement added that the new procedure for export bookings promises to enhance process efficiency by minimising processing delays at export processing terminals, ensuring that export containers are only released to the port upon confirmation of their status at the final approval stage.

鈥淚t will also reduce road congestion as export vehicles would now complete their reloading processes before proceeding to the port. In addition, it will bolster the Nigerian economy as a streamlined export process will enhance international competitiveness, attract more business, and generate higher revenue for the nation,鈥� the statement added.

Managing Director and Co-founder of TTP, Jama Onwubuariri, commented: “Our team鈥檚 relentless pursuit of technological excellence has culminated in a solution that not only streamlines the export process but also reinforces the collective efforts of industry regulators and stakeholders, notably the NPA. We are honoured to collaborate closely with the NPA, the CBN and other partners in ensuring that this integration sets a new benchmark for operational excellence in Nigeria鈥檚 export sector. This achievement is a testament to what can be accomplished when cutting-edge technology meets proactive regulatory oversight.”

Eromosele Abiodun

The Chief Executive Officer, Lagos Free Zone, Adesuwa Ladoja, called for increased collaboration to boost investments from businesses residing in the United Kingdom. Reinforcing the fact that the Zone remains the preferred investment destination, showcasing world-class infrastructure and incentives for potential investors, Ladoja highlighted the pivotal role of LFZ in providing optimal environment for conducting businesses through the removal of regulatory permit bottlenecks and provision of key infrastructure.

He stated this when he hosted a high-powered delegation of the British Deputy High Commission at the zone in Lagos.

鈥淚t is an absolute honour to welcome you and the delegation and show what we have done at Tolaram in the last three decades. We are happy that we are playing our part to improve the ease of doing business in Nigeria,鈥� she said.

She noted that the Zone was getting the much-needed support from the federal government to improve the business environment through the provision of road and rail infrastructure. She disclosed the commencement of the construction of coastal roads by the federal government with plans to ensure rail alignment along the route in no distant time.

In his remarks, the British Deputy High Commissioner, Jonny Baxter explained that the Lagos Free Zone presents the opportunity for the United Kingdom to strengthen economic bond with Nigeria.

Baxter, citing the relationship between UK and Nigeria which will be strengthened given the opportunities that Lagos Free Zone offers, expressed optimism that both countries would leverage the opportunities by taking comparative advantage of each other鈥檚 economies.

He explained that the integration of Lekki Port and Lagos Free Zone remains a game changer that will attract investments an help to improve Nigeria鈥檚 economy. He urged the management of the Zone to introduce more efficient and effective practices that would facilitate a business-friendly ecosystem and encourage more investors to see the location as a viable investment destination.

鈥淲ell, I think bilateral trade between the UK and Nigeria is strong. I think the advice I have for the promoter of the Zone is to ensure that businesses in Nigeria are properly integrated into the market such that we can witness developments, potentially create new markets and create new supply chains, for which the rest of Nigeria can benefit as well,鈥� he said.

Eromosele Abiodun

Following the repositioning of the port system that has improved efficiency, the Nigerian Ports Authority (NPA) has said that it is poised to provide the operational collaboration necessary to grow exports.

Managing Director/CEO of the NPA, Dr. Abubakar Dantsoho stated this in Lagos yesterday when he received the Chief Executive Officer of the Nigerian Liquiefied Natural Gas (NLNG) Limited,  Dr. Phillip Mshelbila at the NPA headquarters.

According to the NPA boss, “imbued by the mandate of the Minister of Marine and Blue Economy Adegboyega Oyetola for the NPA to support the increased export orientation of the Federal Government, we assure you of our unwavering support. Nigeria LNG (NLNG) has played a key role in Nigeria’s economic development and export growth since inception. We will grow this partnership.”

Speaking during the visit, Mshelbila expressed Nigeria LNG’s appreciation for the NPA’s the continued support and solicited increased synergy as NLNG Limited is expanding its LNG production capacity to take advantage of increased global demand.

Nigeria鈥檚 attainment of trade surplus of N5.81 trillion ($3.7 Billion) in third quarter of 2024 as reported by the Nigerian Economic Summit Group (NESG) foreign trade alert was through exports predominantly consummated on the platforms of the Nigerian Ports Authority.

Dantsoho had on assumption of office last year promised to reposition the agency for increased productivity and greater efficiency for improved revenue generation.

Dantsoho said the NPA under his watch would rise up to the intense competition from neighboring countries.\Also, he promised to work tirelessly to improve efficiency, reduce costs and enhance the overall user experience at the nation鈥檚 seaports.

According to him, 鈥淎s we embark on this Journey together, I wish to seize this opportunity to state that our main goal is to reposition the Organization for increased productivity and greater efficiency for improved revenue generation to the Authority and country. We must rise up to the intense competition we face from our neighbors, we must work tirelessly to improve efficiency, reduce costs and enhance the overall user experience in our ports.

鈥淚 am confident that our predetermined objectives can be achieved through our collective efforts, therefore collaboration and teamwork will be the cornerstone of our success. I challenge you to come with me on this journey. Let me assure you that we will aim to pay closer attention to staff welfare by ensuring timely payment of emoluments, compensations and addressing issues of training & capacity development particularly for deserving employees who add value in their areas of deployment.鈥�

Eromosele Abiodun

In what could be described as a major boost to the Nigerian maritime sector and international trade, the management of Lekki Port LFTZ Enterprise Limited (LPLEL), Lekki Freeport Terminal, and the Lagos Free Zone have launched the COSCO, ONE (Ocean Network Express), and ZIM alliance services at Lekki Deep Sea Port.

The launch of the services was signaled by the arrival of the E A Centaurus at Lekki Deep Sea Port recently. The E A Centaurus, with an overall length of 277m and a container handling capacity of 7,000 TEU, is also the largest COSCO vessel to call Nigeria. It docked at the port.

The Chief Executive Officer of Lekki Freeport Terminal, Christophe Cassang, explained that the launch of the service marks a crucial milestone in the terminal’s development and capacity expansion. He added that the launch of the service demonstrates the company’s commitment to becoming a leading maritime hub in West Africa.

鈥淭hrough the strategic partnership with global shipping leaders such as COSCO, ONE, and ZIM, we are strengthening our position on the international stage and opening new opportunities for trade and industry in Nigeria and the region. Lekki Freeport Terminal is run by a well-trained workforce, passionate about meeting challenges of the future, and is equipped with the most advanced technology and state-of-the-art infrastructure designed to meet the growing needs of the shipping lines and of our customers,鈥� said Cassang.

In his remarks during the ceremony, the Managing Director of Lekki Port, Du Ruogang, described the launch of the new shipping line services as a true testament to the company鈥檚 commitment to Nigeria鈥檚 maritime future. Ruogang noted that the berthing of the E A Centaurus marked the first of bi-weekly calls to Lekki Deep Sea Port by COSCO, ONE, and ZIM shipping lines.

He described the launch of the COSCO, ONE, and ZIM shipping lines as a symbol of the company鈥檚 unwavering dedication to positioning Lekki Port as a transformative force in the Nigerian maritime Industry.

鈥淎fter 18 months of commencement of commercial operations and continued efforts, we are proud to welcome COSCO, ONE, and ZIM shipping lines to Lekki Port. With the bi-weekly calls of the consortium, we are realizing our vision of driving significant cargo volumes and further positioning Lekki Port to enhance the Nigerian maritime sector and improve business efficiency across the country. The achievement is not the end but rather the beginning,鈥� he said.

In her statement, the Chief Executive Officer of Lagos Free Zone, Adesuwa Ladoja, described the launch of COSCO, ONE, and ZIM shipping lines services at Lekki Port as a momentous occasion and significant achievement not only for Lekki Port and Lekki Freeport Terminal but also for Lagos Free Zone as it is bound to attract more foreign direct investment (FDI) to the zone.

鈥淔rom one shipping line, we now have four shipping lines calling at the Lekki Deep Sea Port; it is significant because we now have more options that allow more customers access to the state-of-the-art facilities at the Lekki Port. It also allows the growth of enterprises in the Lagos Free Zone and, in fact, the entire Lekki economic axis. The companies can bring their raw materials through any of the four shipping lines and move them straight into the factories for production. They can also export finished goods to other parts of Africa and, indeed, the world. This is the economic rejuvenation we are all looking for, and Lekki Port and Lagos Free Zone are happy to be doing our part鈥�, she said.

In their reaction, the COSCO, ONE, and ZIM shipping line representatives expressed their excitement about partnering with Lekki Port and Lekki Freeport Terminal.

They expressed satisfaction with the world-class infrastructure and facilities available at the port.

The companies were represented by the Deputy Managing Director of COSCO Shipping Lines Nigeria Limited, Rex Wang, Director, Ocean Network Express (Nigeria) Limited, Stefan Pedersen, and Managing Director, Lansal, Todd Rives.

Eromosele Abiodun

The Tincan Island Port Strategic Commander of the National Drug Law Enforcement Agency (NDLEA), Mitchell Ofoyeju, and the Comptroller of the Tincan Island Port, Nigeria Customs Service (NCS), Dera Nnadi, have agreed to strategise to enhance port security aimed at combating drug trafficking, boosting revenue generation, and facilitating trade. 

Nnadi, who received the NDLEA Tincan delegation, emphasised the significance of collaboration towards actualising critical national goals and priorities.

“I am glad to welcome you and your team to my office. This partnership is essential, not only to secure our port but also to boost legitimate trade in the overall interest of our country. We are committed to ensuring that trade is conducted safely and efficiently,” she noted.

During the advocacy engagement that took place at the weekend, the officials underscored the importance of collaboration between the two agencies to adequately tackle pressing issues related to smuggling and illicit drug trafficking.

On his part, Ofoyeju noted that he is determined to make Tincan Island Port invincible to drug trafficking cartels.

In his words, “I have the mandate of the Chairman/Chief Executive Officer, Brig Gen Mohamed Buba Marwa (rtd), to implement strict measures that will accentuate zero tolerance for drug trafficking at the port.”

Ofoyeju emphasised the critical need for synergy and collaboration in tandem with the 2023 Memorandum of Understanding signed by the NDLEA and the Nigeria Customs Service.

“Our cardinal objective is to create a united front against drug trafficking through the sharing of intelligence to enhance our operational capabilities and respond swiftly to emerging threats,” the commander stated during the meeting.

According to the NDLEA Tincan commander, seaports play a crucial role in facilitating trade and commerce, and as key players, they have a responsibility to promote efficiency and integrity in seaport operations.

鈥淚t is pertinent to prioritise safety and security through effective drug control measures and other key responsibilities aimed at facilitating trade and commerce under the presidential initiative of the ease of doing business.鈥�

Key issues discussed at the meeting included joint training programs and the use of technology aimed at equipping personnel from both agencies with the skills necessary to effectively detect and interdict illicit drug consignments. This initiative is expected to strengthen their operational effectiveness and improve inter-agency cooperation. It is equally aimed at preventing the trafficking of narcotics, particularly lethal synthetic opioids like fentanyl and others.

Both leaders agreed on the urgent need to educate port workers and the general public about the dangers of drug abuse.

“An informed workforce is our best defence against drug-related crimes. We must take proactive steps to raise awareness,” Nnadi added.

Joint inspections of cargoes were highlighted as another area for collaboration. The two agencies recognised that coordinated inspections would not only deter drug smuggling but also facilitate smoother trade processes, aligning with the federal government’s presidential policy on the ease of doing business. 

The highlight of the meeting was the decoration of Comptroller Dera by Commander Ofoyeju as the War Against Drug Abuse (WADA) Ambassador.

Both leaders expressed optimism about the potential impact of their collaboration on national security and trade facilitation.

They stressed that enhancing operational cooperation would not only benefit their agencies but would also contribute positively to Nigeria’s economy and public health, thereby making the port impenetrable to criminals. 

The advocacy visit is a pivotal step towards fostering a secure and conducive environment at Tincan Island Port, vital for national security and economic growth.

Eromosele Abiodun

Ahead of tomorrow’s World Maritime Day, the Minister of Marine and Blue Economy, Adegboyega Oyetola, has described the theme for this year’s celebration, “Navigating the Future: Safety First,” as a fitting narrative for the current happenings in Nigeria with regard to President Bola Ahmed Tinubu’s desire to make Nigeria a maritime hub in Africa.

He noted that the first major step by the president in navigating the future for Nigeria was the creation of the Ministry of Marine and Blue Economy, while following it up with other policies and programmes that would ensure the safety of the country’s waterways.

World Maritime Day is celebrated annually to provide an opportunity to focus attention on the importance of shipping and other maritime activities and to emphasise a particular aspect of the work of the International Maritime Organization (IMO).

This is as the Managing Director of the Nigerian Ports Authority (NPA), Dr Abubakar Dantsoho has applauded Oyetotola for his drive and tenacity towards ensuring port efficiency. 

According to Dantsoho, “The minister has in many respect surpassed expectations, his drive and tenacity is unmatched. He has constantly drum it into our ears that he is focused on delivering results for Nigeria.鈥� 

In a statement by his spokesman, Ismail Omipidan, the minister noted that the theme for the 2024 World Maritime Day, reflects IMO’s efforts at enhancing maritime safety and security, in line with the protection of the marine environment.

He further expressed the country’s commitment to sustaining the gains of the Deep Blue Project, with a view to ensuring maximum security of the country鈥檚 maritime domain.

Initiated by the Nigerian Government and led by the Nigerian Maritime Administration and Safety Agency (NIMASA), the Deep Blue Project addresses the complex security challenges in Nigeria鈥檚 waterways. Since its full deployment in 2021 within the Nigerian Continental Shelf, maritime security has been significantly enhanced.

Oyetola said the enhanced security is, “responsible for the record of zero piracy by Nigeria in the last 24 months and it is to be noted that the United Nations Security Council, at its 905th meeting, acknowledged the progress made by Nigeria in maritime security concerning the contributions of the deep blue project.”

The statement further noted the efforts of the ministry at ensuring that the nation’s ports compete favourably with other ports across the globe.

Eromosele Abiodun

Terminal operators at the nation鈥檚 seaports yesterday in Lagos said Nigeria’s port concession policy has been a transformative game-changer which has ensured job security and improved remuneration and welfare for dockworkers. 

Stakeholders, who gathered at the 2024 Dockworkers Day organised by the Shipping Correspondents Association of Nigeria (SCAN) in collaboration with the Maritime Workers Union of Nigeria (MWUN), in Lagos, said the Dockworkers are the backbone of Nigeria’s seaborne trade, yet their inputs usually go unnoticed.

Speaking at the event, the Chairman, Seaports Terminal Operators Association of Nigeria (STOAN), Princess Vicky Haastrup, said, as the unsung heroes of the maritime industry, dockworkers play a crucial role in ensuring smooth operation of the nation鈥檚 ports. She emphasized that their skills, expertise, and dedication facilitate the movement of goods, stimulate trade, and drive economic growth.

Haastrup applauded SCAN for initiating and organising the Dockworkers’ Day, saying: 鈥淵our pioneering idea of shining a spotlight on the often-overlooked heroes of our ports is truly praiseworthy, and your dedication to annually celebrating their vital role is truly laudable.鈥�

She said by introducing private sector expertise and investment at the port, the port concession has improved working conditions and safety standards, enhanced productivity and efficiency, increased job security and better remuneration, and provided training and development opportunities.

Prior to the 2006 port concession programme, she said dockworkers faced numerous challenges, including poor remuneration, lack of conditions of service, and lack of identifiable employers. 

鈥淭oday, dockworkers have comprehensive and robust conditions of service, which include health insurance, life insurance, workmen compensation, pension, gratuity, and bonuses,鈥� she said.

Speaking, the Minister of Marine and Blue Economy, Gboyega Oyetola lauded the SCAN, stating that the annual Dockworkers Day celebration will enable government to take appropriate policy decisions that will sustain the great strides already achieved in the maritime industry.

Represented by the Director of Press and Public Relations of the ministry, Olujimi Oyetomi, he said that the Dockworkers Day event is coming at a time the federal government has committed to maximally harness potentials in marine and blue economy sectors to ensure improved productivity, creation of jobs for teeming youths, increase in revenue generation and Gross Domestic Product (GDP) in order to attain sustainable development in the country. 

Eromosele Abiodun

The Nigerian Ports Authority (NPA) and the Kingdom of Belgium have expressed readiness to deepen bilateral ties in other to increase efficiency of the nation’s seaports and enhance growth in trade volumes between the two countries. 

Speaking after receiving the Ambassador of the Kingdom of Belgium to Nigeria, Pieter Leenknegt, the Managing Director of NPA, Dr Abubakar Dantsoho, said the Minister of Marine and Blue Economy, Adegboyega Oyetola, has given the authority necessary backing to enhance Nigeria’s share in the trade statistics of West and Central Africa. 

The NPA Boss also stated that Nigeria with the biggest market share of West African freight from the port of Antwerp, accounts for over six million tonnes annually. 

According to him, “The annual volume of West African freight in Antwerp amounts to almost 17 million tonnes resulting in a market share of 31 per cent. Nigeria, with a volume of over 6 million tonnes, accounts for the largest part. The port of Antwerp is known in Africa as the maritime centre of Europe, owing to the numerous supply chain connections.

鈥淭he synergy between maritime, logistics and industrial activities creates a unique platform. Out of all the ports in North-West Europe, the Belgian Port of Antwerp has the highest number of direct services to West Africa. The annual volume of West African freight in Antwerp amounts to almost 17 million tonnes resulting in a marketshare of 31 per cent. Nigeria, with a volume of over 6 million tonnes, accounts for the largest part.鈥�

Dantsoho also disclosed readiness of the authority to leverage on the technical know-how of the Port of Antwerp, Belgium, to operationalize the Port Community System (PCS). 

He argued that leveraging on Antwerp port technical know-how will prepare the country towards actualizing the forthcoming National Single Window Project of the Bola Ahmed Tinubu administration. 

“This meeting is focused on leveraging the know-how of the Antwerp Port Community in the area of Port operational efficiency to add fillip to the Authority’s effort at operationalizing the Port Community System (PCS) as quickly as possible in readiness for the forthcoming National Single Window Project of the Bola Ahmed Tinubu administration,” he said.

Speaking, the Belgian ambassador congratulated Dantsoho on his appointment and promised the availability of Belgian expertise in the development of both deep sea ports, waterways and hinterland connectivity development.

He confirmed his readiness to continue facilitating contacts and projects in that regard between Belgium and Nigeria.

Eromosele Abiodun

The newly appointed Managing Director of Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho, has identified the speedy rehabilitation of dilapidated port infrastructure across the nation as his topmost priority.

Dantsoho, who stated this during an unscheduled visit to Tin Can Island Port (TCIP) in Lagos yesterday, also vowed to collaborate with port stakeholders in a bid to deliver efficient services at the nation’s seaports. 

According to the NPA helmsman, adequate port infrastructure and robust collaboration with stakeholders will enable the nation’s seaports attain improved revenue generation through efficiency and productivity.

Speaking to the press during the visit Dantsoho reteirated that President Bola Ahmed Tinubu mandated the Authority to deliver efficient port services and improved industry outcomes, adding that his management team is poised to do that as quickly as possible.

“With the kind of backing we have from the Minister of Marine & Blue Economy, His Excellency Adegboyega Oyetola CON, I want to assure stakeholders that the much-talked about reconstruction of Tin Can Ports Complex will move from rhetoric to action,” he remarked.

Dantsoho equally observed that port competitiveness is dependent on sound infrastructure and assured that the NPA will deliver on that necessity as soon as possible to better service Nigeria’s domestic cargo needs and those of landlocked neighbouring nations.

Abubakar Dantsoho, who was recently appointed as Managing Director of NPA assumes the role with over 25 years hands-on operational experience at the Authority.

Eromosele Abiodun

The Managing Director of the Nigerian Ports Authority (NPA), Abubakar Dantsoho, yesterday in Lagos promised to reposition the agency for increased productivity and greater efficiency for improved revenue generation.

Dantsoho who made the pledge during the handing over ceremony at the authority’s headquarters, said the NPA under his watch would rise up to the intense competition from neighboring countries.

Also, he promised to work tirelessly to improve efficiency, reduce costs and enhance the overall user experience at the nation鈥檚 seaports.

According to him, “As we embark on this Journey together, I wish to seize this opportunity to state that our main goal is to reposition the Organization for increased productivity and greater efficiency for improved revenue generation to the Authority and country. We must rise up to the intense competition we face from our neighbors, we must work tirelessly to improve efficiency, reduce costs and enhance the overall user experience in our ports.

“I am confident that our predetermined objectives can be achieved through our collective efforts, therefore collaboration and teamwork will be the cornerstone of our success. I challenge you to come with me on this journey. Let me assure you that we will aim to pay closer attention to staff welfare by ensuring timely payment of emoluments, compensations and addressing issues of training & capacity development particularly for deserving employees who add value in their areas of deployment.”

Dantsoho said he will continue the digital transformation of the agency and reinforce the current efforts at deploying the Port Community System (PCS).

He further disclosed that the NPA will pay attention to the logistics that surround the arrival of cargoes along the port corridor.

He added, “We will reward hard work and develop leadership for the future stability of the Nigerian Ports Authority. We will continue the digital transformation of the Authority and reinforce the current efforts at deploying the Port Community System, which we believe is key to our dream of total automation of our processes, thereby eliminating leakages and corruption. The current efforts towards infrastructural renewal and development will be enhanced. 

鈥淚n particular, we will drive, Port Rehabilitation and Modernization, we will pay attention to the logistics that surround the arrival of cargoes along the port corridor, their receipt at the terminals and loading onboard ships in the most efficient way and also cargo evacuation from our ports, Deep sea Ports Development, in order to unlock the full potential of the Nigerian economy.

“Promotion of transparency, accountability and Ease of doing business in our ports, we shall enhance collaboration and communication between sister agencies and promote stakeholder engagement.  In this regard, we will begin engagement with Terminal Operators and Shipping lines as primary recipients of our services to feel their pulse and thereafter other stakeholders to seek greater cooperation and collaboration.”

Speaking earlier, the immediate-past Managing Director of NPA, Mohammed Bello-Koko, said his administration repositioned the NPA for greater operational efficiency and unprecedented revenue generation and remittance to the Consolidated Revenue Fund (CRF) of the Federal Republic of Nigeria.

Bello-Koko who applauded the administration of President Bola Tinubu, insisted that he positioned the NPA for improved efficiency, revenue generation, accountability, and adherence to international best practices in port management and operations, 鈥渉e said.

He also stated that the authority upgraded its Data Center, Servers, Storage, and 糖心视频 Continuity and also established a data recovery and protection unit with an up-to-date data protection audit certification.

Ekpo:  FG 鈥榣l Continue to Support Gas Supply Programmes in Nigeria

Emmanuel Addeh in Abuja

Minister of State Petroleum Resources (Gas), Ekperikpe Ekpo, has restated the commitment of the federal government in supporting ongoing efforts by Chevron Nigeria Limited (CNL) and other producers in boosting gas supplies to the domestic market in Nigeria.

Ekpo stated this during a meeting with a team from CNL, led by its Managing Director, Mr. Jim Swartz, according to a statement signed by his Spokesman, Louis Ibah.

The meeting, held at the instance of the gas minister, aimed at getting an update on CNL鈥檚 efforts to domesticate the Liquefied Petroleum Gas (LPG), produced from its Escravos facility, as well as the company鈥檚 efforts to deliver more natural gas to Nigeria and the West African subregion.

Ekpo had recently ordered the domestication of all LPG (cooking gas) produced within the country with the target of stabilising the price of the gas in the domestic market

The minister stressed the need for International Oil Companies (IOCs) operating in Nigeria not only to focus on exports of gas, but to show concern and be involved in the federal government’s aspiration of ensuring that Nigerians enjoy the dividend of the country’s huge gas resource through increased volumes of gas supplies to the domestic market.

At the meeting, the minister appreciated CNL for being a good corporate citizen and for dedicating more volumes of its gas to the domestic gas market.

He also assured the oil firm of government’s support to achieving its gas projects in Nigeria.

Swartz restated the unwavering commitment of Chevron in supporting the aspiration of the federal government in producing affordable, reliable and ever-cleaner energy that enables human progress.

鈥deniyi: Container originated from Turkey聽

鈥ounded terminal suspended, three suspects arrested

Eromosele Abiodun in Lagos and Blessing Ibunge in Port Harcourt

The Nigeria Customs Service (NCS), yesterday, announced the interception of nine containers bearing offensive items, including arms, ammunition, illicit drugs and second hand clothings with total duty paid value of N13.915 billion.

Comptroller-General of NCS, Bashir Adewale Adeniyi, who disclosed this at a press briefing in Onne, River State, said one of the containers, a 40-footer with numbers:MAEU165396 originated from Turkey.

Adeniyi said the said container became a subject of interest for the Nigeria Customs Service based on the number of risk factors associated with its importation.

According to Adeniyi, thorough examination of the container revealed the following alarming contents: Eight Hundred and Forty-Four (844) units of rifles One Hundred and Twelve Thousand, Five Hundred (112,500) pieces of live ammunition

鈥淭he breakdown is as follows: 764 units of Tomahawk Jojef Magnum Black Pump Action Rifles 10 units of VC Verney Caron Gunmakers Jojef Magnum Silver Pump Action Rifles50 units of VC Verney Caron Gunmaker Double Barrel Rifles 20 units of VC Verney Caron Gunmaker Single Barrel Rifles Exclusive Series, Sterling High-Quality Live Ammunition 34g 鈥� 25 Plastic Shotgun Shells (70MM).鈥�

The rifles and ammunition, he said, were concealed using various items such as doors, furniture, plumbing fittings, and leather bags. The duty-paid value of the single container was N4.171 billion.

Adeniyi, however, disclosed that three suspects had been arrested in connection with the seizure.

鈥淲e have followed its sail across continents and we have benefitted immensely from credible information through our collaboration with intelligence communities both at local, national and international levels.

鈥淭he importer tried to circumvent our procedure through the outlet of a private bonded terminal. On Friday 21st of June 2024, the auspicious container was subjected to thorough physical examination, hence the discovery.鈥�

In related development, the Customs CG said officers, through synergy, collaboration, and intelligence sharing, on Saturday, 29 June 2024, intercepted yet another 8脳40-foot container on transit to a bonded warehouse from Onne Port.

鈥淭he container numbers are TCKU6879285, CMAU5985012, CMAU7515384, CMAU4297020, SEKU5488437, BMOU4363156, MRKU4616024, and MRSU3068928.

鈥淯pon examination, they were found to contain the following: Six containers laden with: 1,050,000 bottles of CSC Cough Syrup with Codeine (100ml), 3,500,000 tablets of Trodol Benzhexol Tablets (5mg) Duty-paid value: N9.60 billion. Two containers laden with: 720 bales of used clothes with duty-paid value of N144 million.  The total duty-paid value of the nine displayed containers is N13.915billion.鈥�

Adeniyi said the Licences and Permit issued for the operation of all the Warehouses and Terminals as well as those of their Customs Agents involved in these cases have been suspended pending the determination of their involvement.

He also said Customs Officers, who were found complicit in the perpetration of the nefarious act would be heavily sanctioned in a manner that would be approved by the Board of the Nigeria Customs Service.

According to him, officers who kept faith with the Oath of allegiance to the Federal Republic of Nigeria and refused to be bribed into releasing these containers would be adequately rewarded in a manner provided by the Nigeria Customs Service Act 2023.

鈥淟et me warmly commend the professional commitment of the Customs Area Comptroller Onne Port, Mohammed Babandede and through him his Officers and Men, for the meticulous approach deployed to this operation. I also acknowledge our various partners, local and international who provided us the much-needed information to successfully prosecute this operation.

鈥淔inally, this seizure serves as a strong warning to others who may be contemplating similar misadventures. My message to them is simple: we will run you out of business.

鈥淭he Nigeria Customs Service, under my leadership, will not tolerate any action that compromises the economy and security of our beloved nation,鈥� Adeniyi concluded.

Eromosele Abiodun

The United States government, through the U.S. Agency for International Development (USAID) and Nigerian investment bank, Chapel Hill Denham yesterday in Lagos, hosted a conference, 鈥淧owering Nigeria: Mobilising Private Capital,鈥� to encourage private investment in Nigeria鈥檚 infrastructure development.

Attendees included domestic investors and private sector companies who wield over N20 trillion in institutional capital and investment expertise in power, renewable energy, agriculture, and water, sanitation and hygiene; all of which are essential for boosting economic growth.

With over 85 million citizens lacking access to electricity, Nigeria has the highest number of people living without electrical power in the world. This lack of access directly impacts Nigeria鈥檚 ability to achieve meaningful growth as a lack of reliable electricity limits productivity and restricts economic expansion.

USAID鈥攖hrough the Power Africa and Prosper Africa Initiatives鈥攁nd Chapel Hill Denham are tackling these challenges by mobilising investment in Nigeria鈥檚 electricity supply industry. To date, the partnership has mobilized N245 billion of institutional capital into priority infrastructure projects across Nigeria, including N33 billion for renewable energy projects to provide reliable clean energy to low-income consumers.

Speaking at today鈥檚 conference, USAID Mission Director to Nigeria Melissa Jones emphasised how investing in infrastructure supports development goals, drives innovation, creates jobs, and ensures long- term profitability for businesses and investors alike.

She continued, 鈥淭he government, private sector, academia, and investors must work together to create an enabling environment for the power sector’s growth and the adoption of renewable energy while ensuring reasonable returns and protections for private investors.鈥�

Chief Executive Officer of Chapel Hill Denham, Bolaji Balogun commented, 鈥淲e are pleased to partner with the US government to advance Prosper Africa and Power Africa Initiative goals. Investing in infrastructure is pivotal to Nigeria’s development, accelerating the attainment of the sustainable development goals, enabling sustainable prosperity, and creating jobs and opportunities for Nigerians.鈥�