Nigeria’s inaugural shipment under the African Continental Free Trade Area (AfCFTA) has successfully arrived at the Port of Mombasa in Kenya, marking a historic milestone for the continent’s trade and economic integration efforts. The Nigeria AfCFTA Coordination Office confirmed the development yesterday. Senior Trade Expert at the Nigeria AfCFTA Coordination Office, Olusegun Olutayo, said, “This is a historic moment—a realisation of the vision of our continent’s founding fathers and mothers.” He added that in the face of rising global geopolitical tensions and economic fragmentation, AfCFTA presents a unique opportunity for Africa to use trade as a powerful tool for boosting market access and integration among member states.
For further information please check the link below:
In a move to foster operational collaboration aimed at boosting exports, the Managing Director of the Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho, yesterday hosted the Chief Executive Officer of the Nigerian Liquefied Natural Gas (NLNG) Limited, Dr. Phillip Mshelbila, at the NPA Headquarters in Marina, Lagos. During the visit, Dr. Mshelbila expressed NLNG’s appreciation for the NPA’s continuous support and emphasized the need for enhanced collaboration as NLNG expands its production capacity to meet rising global demand for liquefied natural gas. In response, Dr. Dantsoho reaffirmed the NPA’s commitment to supporting Nigeria’s export-driven agenda.
For further information please check the link below:
Minister of Marine and Blue Economy, Adegboyega Oyetola has called for increased funding to drive the Ministry’s 2025 budget. The proposed total capital budget for the ministry in 2025 is N11.77 billion, alongside an overhead allocation of N453.86 million. Addressing the Joint Committee of the Senate on Marine Transport and the House of Representatives Committees on Ports and Harbour, Maritime Safety, Education, Administration, Inland Waterways, and Shipping Services, Oyetola noted that the figures are inadequate, just as he appealed to the committees to consider the ministry’s compelling need for additional funding to drive its mandate He emphasized the need for robust investments in maritime safety, fisheries, and port infrastructure to address critical gaps in the sector.
For further information please check the link below:
https://maritimetodayonline.com/2025-budget-oyetola-seeks-increased-funding-for-marine-blue-economy/
The Nigerian Shippers’ Council (NSC) has revealed that its 2025 budget will be anchored on the 1% freight stabilisation fee based on the provisions of the Council’s Act. Executive Secretary of the NSC, Dr. Pius Akutah, who disclosed this during the Council’s ongoing five -day 2025 -2029 Strategic Management Retreat held in Ibadan said the collection of the fee will commence upon Presidential assent to the Nigerian Port Economic Regulatory Agency (NPERA) Bill. Akutah also announced plans by the Council to commence the implementation of the International Cargo Tracking Note (ICTN) by the second quarter of 2025.
For further information please check the link below:
Onne Multipurpose Terminal (OMT), International Container Terminal Services, Inc.’s (ICTSI) operation in Nigeria, has purchased and put into operation two new mobile harbor cranes and a container freight station. These investments underscore OMT’s commitment to improve terminal operations and at the same time support Nigeria’s trade and commerce. The new cranes, valued at over $25 million, are set to improve OMT’s container handling efficiency and reduce vessel turnaround times. Meanwhile, the new station at Terminal 2 enhances cargo processing and storage efficiency, facilitating the flow of goods.
For further information please check the link below:
The Nigeria Customs Service (NCS) commenced the destruction of 88 containers loaded with expired and fake pharmaceutical drugs imported into the country. The expired pharmaceutical drugs, worth several billions of naira, were intercepted at various seaports and land borders by officers of the Service in recent times. Speaking in Lagos at the Alaro dumpsite in Epe, Lagos, the Assistant Comptroller General of Customs, Enforcement, Inspection and Investigation, Timi Bomodi, stated that the destruction of the contraband would be carried out across the country.
For further information please check the link below:
Comments