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Nigerians spend N1.632 trillion on Tokunbo vehicle imports in 2020

 Tunde Ayodele

Despite the Coronavirus challenges, no fewer than 1.03million used vehicles valued at $3.4billion ( N1.632trillion) were imported into the country in 2020.

Data by the International Trade Administration (ITA) explained that the United States exported more than 500,000 units into the country in the period under review.

It was learnt that automobile importers have shifted importation of used vehicles from Europe to America and India since 2017.

It was gathered that United States vehicle specifications are more in line with the demand and taste of Nigerian consumers which is not always met by entry-level models from Europe.

Meanwhile, data from the Nigerian Ports Authority (NPA)’s shipping position revealed that a total of 2,900 units of used vehicles would be off-loaded at the Port and Terminal Multi-services Limited (PTML), Tin Can Island Port.

They were ferried by eight vessels with Grande Cameroon leading with 450units; Grande Lagos, 300units; Grand Mercury, 250units; Grande Congo, 350 units; Grande Costa D”avorio, 350units; Gral. Sal Martin,  400 units; Grande Sierra Leone, 400units and Grande Luanda, 400units,

However, 2,200 units were offloaded in February 2021 by Grande Tema with 400 units; Grande Dakar, 400units; Grande Abidjan, 400units and Grande Senegal, 300 units, Grande Lagos, 400 units and Grande Argentina, 300units.

As at 2020,  it cost N700,000 to clear Acura MDX 2007 at the seaport; N850,000, Acura MDX 2008; while Acura MDX 2009 was cleared at    N980,000; Acura TSX, N380,000 and Benz ML, N450,000

Others are Ford Edge 2007,     N900,000; Ford Focus 2012, N1,400,000; Hyundai Elantra 2013 – 2016, N1,3million; Hyundai Sonata, N350,000; Kia Optima 2012,N1.2million;  Kia Spectra, N500,000; Land Rover R/Sport 2006, N1.5million; Lexus RX 300, N420,000 and Mazda 3 SV,    N2million.

Data by Deloitte revealed that the number of vehicles in the country has surge from1.34million in 2015 to 1.62million in 2019.

Until 2014, the market grew steady, hitting the 57.000 units record for new vehicles as the domestic market collapsed to 11.743 units in 2017 due to the deep economic crisis generated by poor domestic demand.

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Oyetola presents three-year score card as blue economy industry revenue hits ₦1.83trn

Funso OLOJO,  Editor

The Minister of Marine and Blue Economy, Adegboyega Oyetola, has declared that Nigeria’s maritime sector has undergone a far-reaching transformation in the three years since President Bola Ahmed Tinubu created the Federal Ministry of Marine and Blue Economy in August 2023.

Oyetola, while presenting the Ministry’s three-year scorecard, said the administration had made significant progress in unlocking the economic potential of Nigeria’s 853-kilometre coastline and extensive inland waterways, with the marine and blue economy increasingly emerging as a major driver of revenue, trade, security and employment.

According to him, the reform programme has produced measurable gains in revenue generation, port infrastructure, maritime security, regulation, indigenous shipping, human-capital development, fisheries and inland-waterway safety.

“At the heart of our mandate is a simple but powerful objective: to turn Nigeria’s vast marine resources into sustainable economic value for Nigerians,” Oyetola said.

Revenue climbs 160 per cent

The Minister identified revenue growth as one of the clearest indicators of the sector’s transformation.

Agencies under the Ministry generated ₦1.83 trillion in 2025, representing a 160 per cent increase over the ₦700.79 billion recorded in 2023.

Oyetola attributed the surge to regulatory reforms, stronger revenue assurance, digitisation and the systematic closure of financial leakages.

He said the improved revenue performance was part of a broader strategy to establish a more transparent, efficient and investment-friendly maritime economy.

Nigeria gets first blue economy policy

A major milestone of the reform programme, according to Oyetola, was the approval in May 2025 of Nigeria’s first National Policy on Marine and Blue Economy.

He said the policy provided, for the first time, a unified framework for developing shipping, fisheries, offshore energy, marine biotechnology and other emerging opportunities within the marine economy.

“This policy gives us a clear roadmap. It provides the predictability and transparency investors need while ensuring that our marine resources are developed sustainably,” he said.

The Minister said the policy would guide government intervention while providing greater certainty for private-sector investment across the marine and blue economy value chain.

Ports undergo major transformation

Port modernisation, Oyetola said, remained at the centre of the Ministry’s transformation agenda.

He said the Federal Government was implementing a comprehensive programme to upgrade major seaports, including Apapa, Tin Can Island, Onne, Rivers, Calabar and Warri.

The programme covers channel improvements, modern cargo-handling infrastructure and increased digitisation of terminal operations, aimed at improving efficiency and enabling Nigerian ports to handle larger volumes of international trade.

The reforms have also attracted international recognition.

The World Bank and S&P Global Market Intelligence ranked Tin Can Island Port 10th and Lagos Port Complex, Apapa, 12th among the world’s 20 most improved container ports between 2020 and 2025.

Oyetola said government had also made progress in tackling congestion around the Apapa port environment through the electronic truck call-up system, dedicated holding bays and expanded inland barging.

The acquisition of modern tugboats, pilot cutters and dredging equipment by the Nigerian Ports Authority, he added, had further strengthened port operations.

“We have moved from managing congestion to building a port system that can compete globally,” Oyetola said.

He said the Federal Government was also pursuing an expansion of port capacity through deep-seaport projects in Akwa Ibom, Cross River, Bayelsa, Ondo, Lagos and Rivers states.

The operationalisation of inland dry ports, including the Funtua Inland Dry Port in Katsina State, is similarly expected to take cargo-handling and clearance services closer to businesses in the hinterland and reduce pressure on coastal ports.

Regulation, lower costs for port users

The Minister said regulatory reforms had also delivered tangible benefits to businesses operating in the maritime sector.

According to him, the new Nigeria Ports Economic Regulatory Authority framework will strengthen economic regulation of the port sector, while interventions by the Ministry and its agencies have saved port users more than ₦86 billion in unjustified demurrage.

He added that nearly 300 commercial disputes had been resolved through Alternative Dispute Resolution.

Oyetola said government had introduced measures to eliminate unauthorised shipping charges and strengthen freight and foreign-exchange verification in an effort to reduce leakages and curb capital flight.

He said the objective was to create a maritime business environment where legitimate operators could compete on a level playing field while Nigerian businesses were protected from avoidable costs.

Maritime security records major gains

Improved port efficiency, Oyetola said, had been accompanied by significant gains in maritime security.

Nigeria has maintained zero piracy in its territorial waters for four consecutive years, according to the Minister, with maritime security assets deployed under the Deep Blue Project helping to secure the country’s waters.

He said the achievement had eliminated costly piracy-related surcharges on vessels calling at Nigerian ports while strengthening Nigeria’s reputation as a safer maritime corridor.

Nigeria also regained its seat on the International Maritime Organization Category C Council in November 2025, following a 14-year absence.

Through the Nigerian Maritime Administration and Safety Agency, the country also secured the lifting of the 12-year United States Coast Guard Condition of Entry restrictions affecting vessels arriving from Nigerian ports.

“These achievements demonstrate that Nigeria is not only reforming its maritime sector at home; we are reclaiming our rightful voice and influence internationally,” Oyetola said.

Indigenous shipping gets renewed attention

Oyetola said the Federal Government remained committed to increasing Nigerian participation in the shipping industry.

He disclosed that plans were at an advanced stage to revive a national shipping carrier through a public-private partnership, while the long-awaited process for disbursing the Cabotage Vessel Financing Fund (CVFF) had commenced.

The fund, he said, would enable Nigerian shipowners to acquire modern vessels and strengthen indigenous capacity.

“We cannot build a truly blue economy if Nigerians remain spectators in their own maritime industry,” he said.

Human-capital development has also received increased attention, with seafarer training and sea-time placements expanded to create more opportunities for Nigerians seeking careers at sea.

According to Oyetola, the interventions have contributed to an increase of more than 80 per cent in average seafarer earnings.

He added that the Ministry, through the Nigeria Port Economic Regulatory Agency, facilitated a ₦200,000 monthly minimum wage for maritime and shipping workers.

Blue economy expands beyond ports

Oyetola said the Ministry’s transformation agenda extends beyond shipping and ports to fisheries, inland waterways, marine safety and environmental sustainability.

He said the Ministry supported the Federal Government’s Naira-for-Crude policy by streamlining marine logistics for domestic refineries.

On inland waterways, safety interventions have included the distribution of thousands of lifejackets and plans to replace unsafe wooden boats with modern fibreglass vessels.

The fisheries sector, he said, recorded further growth, with fish production reaching 1.4 million metric tonnes in 2025.

Nigeria also achieved 100 per cent compliance with Turtle Excluder Device requirements among inspected commercial shrimp trawlers, helping to protect marine biodiversity and preserve access to international markets.

Oyetola said the interventions reflected the Ministry’s broader philosophy that economic development and environmental sustainability should reinforce rather than undermine each other.

Digitisation and new institutions

Institutional reform has also featured prominently in the Ministry’s three-year programme.

Oyetola said the Ministry had digitised its internal operations through an Enterprise Content Management System (ECMS) to improve efficiency, transparency and accountability.

He also disclosed that the Ministry helped resolve a 16-year impasse that paved the way for the operationalisation of the Regional Maritime Development Bank (RMDB) in Nigeria.

According to him, the development would improve access to financing for businesses and projects across the maritime value chain.

Foundation for the next phase

Oyetola said the achievements recorded over the past three years should be regarded as the foundation for a much larger economic opportunity.

He said the ultimate objective was to establish a maritime ecosystem in which efficient ports support trade, stronger security attracts shipping, Nigerian businesses capture a greater share of the maritime value chain, coastal and inland communities benefit from new economic opportunities, and marine resources are developed sustainably.

According to him, the combination of rising revenues, a new national policy framework, port modernisation, improved maritime security, stronger regulation, investment in human capital and renewed international engagement had placed Nigeria’s marine and blue economy on a stronger trajectory.

“The blue economy is no longer an untapped frontier. It is becoming a major engine of national prosperity, regional competitiveness and sustainable growth,” Oyetola said.

 

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NIHOTOUR promotes culinary, cultural exchange at Nigeria-China food festival

Gloria Odion, Reporter

The National Institute for Hospitality and Tourism (NIHOTOUR), in collaboration with the China Cultural Centre in Nigeria, has used the 2026 Nigeria-China Food Festival to promote culinary diplomacy, cultural exchange and stronger people-to-people relations between the two countries.

The festival, held on August 27 at the China Cultural Centre in Abuja, was themed “From Farm to Feast” and formed part of activities marking 55 years of diplomatic relations between Nigeria and China.

The event brought together more than 200 participants, including hospitality professionals, chefs, tourism stakeholders, government officials, diplomats, entrepreneurs and cultural practitioners from both countries.

A major attraction of the festival was the presentation of 14 Chinese dishes representing seven regions of China alongside 12 Nigerian dishes reflecting the country’s six geopolitical zones.

The diverse selection offered guests an opportunity to experience the distinctive ingredients, preparation techniques and culinary traditions of both countries while learning about the communities and cultures behind the food.

For NIHOTOUR, the festival also served as a platform to showcase Nigerian cuisine as an important component of the country’s tourism proposition and draw attention to the wide range of people and enterprises that make up the food and hospitality value chain.

Speaking at the event, the Director-General/Chief Executive Officer of NIHOTOUR, Aare Abisoye Fagade, reaffirmed the Institute’s commitment to developing the skills and human capacity needed to strengthen Nigeria’s hospitality and tourism industry.

Fagade said such initiatives could help create opportunities for young people, professionals and entrepreneurs while promoting Nigeria’s rich culinary heritage to domestic and international audiences.

The theme, “From Farm to Feast,” also highlighted the extensive value chain behind every meal—from farmers and food producers to processors, chefs, hospitality operators and businesses that ultimately serve consumers.

NIHOTOUR used the occasion to emphasise the tourism potential embedded in Nigeria’s diverse culinary traditions. Each of the country’s six geopolitical zones has distinctive dishes, ingredients and methods of preparation that can be developed into authentic cultural and tourism experiences.

The Chargé d’Affaires ad interim of the Embassy of the People’s Republic of China in Nigeria, Mr. Zhou Hongyou, underscored the importance of food in promoting cross-cultural understanding and strengthening people-to-people relations.

Also in attendance was the Cultural Counsellor of the Chinese Embassy and Director of the China Cultural Centre in Nigeria, Mr. Yang Jianxing.

Their participation reinforced the role of cultural diplomacy in deepening the longstanding relationship between Nigeria and China.

Beyond the food presentations, the festival featured cultural activities and opportunities for interaction between Nigerian and Chinese participants. It also opened avenues for potential collaboration in hospitality, tourism, culinary training, cultural exchange and enterprise development.

The event comes at a significant point in Nigeria-China relations, with both countries commemorating 55 years of diplomatic ties. While bilateral relations have expanded into areas such as trade, investment, infrastructure and education, cultural initiatives provide an important avenue for strengthening the relationship at the people-to-people level.

NIHOTOUR said it would continue to pursue partnerships capable of advancing Nigeria’s hospitality and tourism sector, strengthening professional capacity, supporting enterprise development and creating opportunities across the tourism value chain.

Through initiatives such as the Nigeria-China Food Festival, the Institute is positioning food and hospitality not only as avenues for economic development but also as powerful instruments of cultural diplomacy and international engagement.

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NIMASA DG, Mobereola, briefs Tinubu on maritime development in Nigeria

Funso OLOJO, Editor

The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr Dayo Mobereola, has briefed President Bola Ahmed Tinubu on the agency’s efforts to develop Nigeria’s maritime industry.

Mobereola, who met with the President at the State House, Abuja, also briefed him on developments within NIMASA over the past two years, highlighting the progress recorded by the agency as well as the challenges confronting the maritime sector.

Following the briefing, President Tinubu reaffirmed his administration’s commitment to the continuous development of Nigeria’s maritime industry, stressing the strategic importance of the sector to the nation’s economic growth.

The President noted that the creation of the Ministry of Marine and Blue Economy was a deliberate policy initiative aimed at unlocking the enormous potential of the maritime sector and increasing its contribution to Nigeria’s Gross Domestic Product (GDP).

While commending NIMASA for the progress recorded so far, President Tinubu charged Mobereola and his management team to sustain the momentum and remain focused on delivering reforms capable of transforming the maritime sector.

He urged the agency to intensify its efforts towards strengthening Nigeria’s maritime administration, improving the operating environment for stakeholders and positioning the sector as a major driver of economic growth and national development.

The meeting further underscored the Federal Government’s determination to harness Nigeria’s vast maritime resources as part of its broader economic diversification and blue economy agenda.

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