Headlines

Terminal operators groan under scarcity of dollars

–as NPA insist on dollar-denominated payment

—-concessionaires may push for increase in tariff

Eyewitness reporter

Terminal operators in the nation’s seaports are groaning under the acute shortage of dollars which adversely affecting their services.

The shortage was the direct consequence of the policy of the Central Bank of Nigeria which recently stopped forex sale to the Bureau de Change(BDC).

Apart from leading to the scarcity of dollars, the policy has also sent Naira into a free- fall in the foreign exchange market, as the local currency has crashed to about N522 to a dollar.

This development has therefore set the terminal operators on a collision course with the Nigerian Ports Authority (NPA) over the payment of royalties.

Under the concession agreement, the terminal operators are expected to pay some royalties such as throughput charges, ship dues, and others to the NPA in dollars.

However, a source close to the terminal operators told our reporter that the concessionaires are finding it difficult to access dollars because of its scarcity.

The source further disclosed that all entreaties to the NPA to receive the payment of these royalties in the Naira equivalent were futile as the agency insisted on payment in hard currency.

Princess Vicky Hastrup, Chairperson, Seaports terminal operators Association of Nigeria(STOAN)

It was further gathered that this hardline posture by the NPA, despite the challenges in accessing dollars by the terminal operators, may pitch the two parties against each other.

“The dollar scarcity is adversely affecting our services and profit margin.

“Apart from the fact that it is scarce, we get it at greater cost due to the continued fall in the value of the Naira.

“It is difficult to get it at the official rate while the rate at the black market is quite high”, a source close to one of the terminal operators lamented.

“Quite ironically, we are still charging old rates for our services as the regulatory agencies have refused us to make adjustments in our tariffs to reflect the current market realities” the source further said.

The source declared that the operators may have to push for an upward review of their charges if they hope to stay in business.

“The only way we can remain in business is to jerk up our tariffs or in the alternative, NPA should accept payment of its royalties in naira equivalent until the crisis in the forex issue is sorted out by government” the source noted.

However, it appears that the NPA may not accede to such a request.

Even though the General Manager, Corporate and Strategic Communications of the NPA, Mr. Olaseni Alakija, was not available for a comment as he was said to be away on an official assignment when our reporter went to his office, but a source in the agency ruled out the possibility of such concession.

“At what rate in naira equivalent would they( terminal operators) want to pay?

“Is it in the official exchange rate or black market rate?

“If they want to pay the Naira equivalent in the official rates, who pays the shortfall?

“And you know the disparity will affect the revenue of the NPA as well as the remittances to the Federal Government.

“These are the knotty issues that may arise which may not allow the agency to accept payment in Naira.

“Even, apart from that, the dollar-denominated payment is in the concession agreement, so both parties should fully comply” the NPA source, who begged to remain anonymous, observed.

In the same breath, the Nigerian Shippers’Council, which is the economic regulator, is unlikely to accede to the request for a hike in terminal charges.

It would be recalled that the Council has always maintained that the operators could not impose arbitrary charges on the users of their services, a matter the agency has constantly been at loggerhead with the operators.

Customs

How NPA’ s ETO call- up system hampers seamless export processes at Lilypond Terminal — Customs

Funso OLOJO

The Customs Area Controller of the Lilypond Export Command, Comptroller Ajibola Odusanya, has attributed the persistent delay in export cargo movement at the command to logistics issues associated with the Nigerian Port Authority’s Eto call-up system, rather than any bottlenecks from the Nigeria Customs Service (NCS).

Eto call- up system is a structured movement of container- laden trucks into the terminals meant to decongest Port access road and facilitate quick goods clearance at the port.

It was developed by the NPA and driven by a private company.

However, Comptroller Odusanya, speaking at a Roundtable with members of Maritime Reporters Association of Nigeria (MARAN),emphasized that while the command has streamlined the export process, lack of available slots for trucks to enter the ports remains a major challenge.

He noted that despite the command’s efforts, numerous containers remain stranded at Lilypond due to the inability of trucks to secure clearance under the Eto system.

He explained that prior to the implementation of a centralized export processing system, multiple customs units across Apapa, Tin Can, PTML, and Lekki ports handled export documentation.

However, in July 2024, the government directed the full centralization of all export processes under the Lilypond Export Command.

This move, driven by the Presidential Enabling Business Environment Council (PEBEC) and backed by agencies such as the Nigerian Export Promotion Council (NEPC) and the Nigerian Ports Authority (NPA), was aimed at streamlining operations and reducing multiple checkpoints.

Odusanya revealed that between January and December 2024, the command processed exports valued at approximately $1.9 billion, a figure that could have been higher if the consolidation had occurred earlier in the year.

He added that in February 2025 alone, the command facilitated exports worth $225.1 million.

He attributed these successes to inter-agency collaboration, with Customs working alongside the Department of State Services (DSS), the National Drug Law Enforcement Agency (NDLEA), and quarantine services, among others.

Despite the improved export facilitation, Odusanya acknowledged that challenges persist, particularly with the Eto call-up system, which has created logistical constraints.

He explained that export containers often get delayed at Lilypond not due to customs processes but because of congestion at the ports, caused by import containers awaiting clearance.

He pointed out that while Apapa remains the busiest port for exports, the congestion problem is less severe at Tin Can due to the presence of an export processing terminal.

On the issue of the Nigerian Export Proceeds (NXP) form, Odusanya stated that the command has ensured compliance with all regulatory requirements.

He, however, acknowledged exporters’ concerns about the process and assured that Customs is working to facilitate seamless trade while ensuring adherence to financial regulations.

He urged maritime stakeholders, including the media, to continue sensitizing exporters on the ease of processing export goods through Lilypond, emphasizing that the command operates transparently and does not condone extortion.

He reiterated that officers at the entry points are strictly there to verify processed cargo and not to serve as an additional checkpoint.

Odusanya concluded by reaffirming the commitment of the Lilypond Export Command to supporting Nigeria’s growing export sector, ensuring efficiency in cargo movement, and addressing any emerging challenges in collaboration with relevant stakeholders.

Economy

Dangote group remits N402.3 billion tax to government coffers in 2024

Gloria Odion

The Pan African Conglomerate, Dangote Industries Limited and its subsidiaries, have disclosed that it paid over N402 billion in taxes in 2024, making it the highest taxpayer in the country.

Dangote’s Chief Branding and Communication Officer, Anthony Chiejina, declared during a meeting with some senior media executives who visited him in his Lagos Office.

He said Dangote Industries Limited (DIL) and its subsidiaries, namely, Dangote Cement, NASCON, Dangote Packaging Limited among others, remitted a total of N402.319billion for the out-gone year as taxes as responsible business enterprises.

Recall that Federal Inland Revenue Service (FIRS) had in late 2024 recognised Dangote group and its subsidiary, Bluestar Shipping as the most tax compliant organizations in the country during its Special Day at the 2024 Lagos International Trade Fair organised by the Lagos Chamber of Commerce and Industry (LCCI).

The Federal Inland Revenue Service is Nigeria’s agency responsible for assessing, collecting and accounting for tax and other revenues accruing to the Federal Government of Nigeria.

Chiejina told his visitors that as a responsible business organisation, DIL and its subsidiaries have never shieded away from its obligations either to the government in the form of tax payment at all levels or to host communities in the form of Corporate Social Responsibility (CSR).

According to him, the Group’s corporate strategy has evolved just as its businesses have grown, matured and diversified into new sectors and regions over the last four decades.

He noted that Dangote Group has almost single-handedly taken Nigeria to self-sufficiency in cement and refined petroleum products and is expanding rapidly across Africa.

Dangote Group and its subsidiaries were recognised as number one most compliant in tax payment in the country, just as its subsidiary Dangote Cement, the country’s leading cement manufacturer, at another occasion won three awards at the FMDQ Gold Awards in Lagos as the most active business in the Foreign Exchange market.

Dangote Cement Plc was adjudged as the Largest Commercial Paper Quotation on FMDQ and Single Largest Corporate Debt Issue on FMDQ.

Also, Dangote Industries Ltd also emerged as the “Most active corporate in the foreign exchange market”.

Headlines

NIWA Chairman charges Oyebamiji to phase out wooden boats from Nigeria’s waterways

Funso OLOJO

The newly appointed Chairman of the National Inland Waterways Authority (NIWA), Hon.Musa Sarkin-Adar, has charged the management team of the Authority led by its Managing Director, Bola Oyebamiji, to phase out wooden boats from Nigeria’s waterways.

Musa Sarkin-Adar, who paid a

familiarization visit to the management team of NIWA in its Abuja liaison office, in a bid to minimize boat mishaps on the waterways.

He believed it would be a lasting legacy for the present leadership of NIWA if accidents could be minimized on the Waterways.

The Chairman’s advice is however in alignment with the NIWA’ s resolve to stamp out wooden and rickety boats on waterways.

However, Musa Sarkin-Adar further encouraged the NIWA team to do more in connecting other states in the water transportation.

He emphasized on the need for the involvement of the private sector in the development of water transportation, as government cannot do it alone.

In his response, Oyebamiji expressed appreciation for the visit and encouraging words of the chairman and pledged the commitment of of NIWA management to make the nation’s waterways safe and secure.

Oyebamiji also commended the efforts of his management team in the development of the Inland Waterways

Transportation sub-sector.

According to him, he is blessed with an experienced and dedicated team which he cannot take the glory alone.

The Chairman’s visit was attended by all the management staff of the Authority.