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Economy

FG may merge NIWA with NPA, stop funding recurrent expenditure of MAN, ORON in a public service reform

 

—–as FG ready to implement Orosanye  report
The Eyewitness reporter
In a major civil service restructuring exercise that is expected to be implemented in 2023, the federal government may merge the functions and duties of the National Inland Waterways Authority (NIWA) with the Nigerian Ports Authority (NPA).
Similarly, the government will stop funding the recurrent expenditures of the Maritime Academy of Nigeria (MAN), ORON, but still retains the funding for capital projects of the school.
The reform is part of the recommendations of the Orosanye report on the merger and scrapping of some federal Ministries, Departments and Agencies of government (MDAs).
In 2011, Stephen Oronsaye submitted a report to downsize the federal service commission and eliminate the duplication of duties by the 541 Fed Govt parastatals, commissions, Ministries, Departments and Agencies (MDAs).
According to the report, Nigeria stands to save over N300bn if  Federal Government should implement the white of Orosanye report which recommended the scrapping or merger of 400 out of the 541 MDAs next year.
Our reporter gathered from the report that the functions and duties of NIWA would be subsumed under the NPA to cost costs.
The committee said that there is a duplication of some of the duties and functions of the two agencies which should be undertaken by the NPA.
It could be recalled that the core duties of NIWA include overseeing the waterways transportation and dredging some of the channels of the waterways for safe navigation of water crafts, which overlap with the functions of the NPA.
On the activities of MAN, ORON, the committee suggested that the government should stop funding the recurrent expenditures of the school like staff salaries which the report suggested could be funded by the school through the fees and other levies placed on students.
The government will, however, continue to fund the significant capital projects in the school for enhanced efficiency.
Before becoming the Head of the Civil Service, Orosanye had a rich stint in the private sector and brought his experience of judiciously managing resources to bear on the Civil Service.
 Members of the committee included: Japh CT Nwosu; Rabiu D. Abubakar, Salman Mann; Hamza A. Tahir; Adetunji Adesunkanmi; and Umar Mohammed.

Recommendations were made for 263 of the statutory agencies to collapse into 161, a merger of 52 agencies, and the outright expungement of 38 redundant agencies while returning 14 as sub-units In ministries.

And in 2014, a white paper was issued by Fed Govt to act upon the report.
From all indications, the Buhari government is poised to implement the white paper issued in 2014 on the report.
The following statutory and non-statutory agencies are up for merger or out-and-out expulsion.
 Their previous budgetary allocations gleaned from open-source materials suggests what could be saved when the NASS completes the repealing of some of the agencies.
The CBN, NNPC and many other agencies won’t be getting budgetary allocations in 2023.
Merge the Nigerian Communications Commission, National Broadcasting Commission, and Nigerian Postal Service into one single commission called the Communications Regulatory Authority of Nigeria.
The National Examinations Council (NECO) goes under the roof of the West African Examination Council (WAEC).
A merger of  The Federal Radio Corporation of Nigeria, Voice of Nigeria and the Nigerian Television Authority to form the Federal Broadcasting Corporation of Nigeria.
Scrap the Federal Road Safety Corps while putting the agency under the Highways Department of the Federal Ministry of Works, and their staffers should be sent to the Police Service Commission and Vehicle Inspection Office.
Economic and Financial Crimes Commission( EFCC), the Independent Corrupt Practices and Other Related Offences Commission( ICPC) and the Code of Conduct Bureau become a single entity.
The Federal Airports Authority of Nigeria became privatised.
National Inland Waterways goes under the roof of the Nigerian Ports Authority. The report says to abolish the National Rural Electrification Agency.
Pull the plug on 23 research institutes and fund them through the National Research and Development Fund and research grants.
The National Directorate of Employment and the Small and Medium Enterprises Development Agency of Nigeria merge to become the National Agency for Job Creation and Empowerment.
Privatise Nigerian Communication Satellite.
Hajj and Christian Pilgrims Commissions funding from Govt should discontinue. Merge Administrative Staff College of Nigeria and the Public Service Institute of Nigeria.
Repeal the law establishing the National Salaries and Wages Commission and transfer its functions to the Revenue Mobilisation and Fiscal Responsibility Commission.
The Infrastructure Concession Regulatory Commission goes under the Bureau of Public Enterprise.
The Border Communities Development Agency is to be absorbed by the National Boundary Commission.
Cut recurrent expenditure funding of the National Institute for Policy and Strategic Studies while maintaining the capital expenditure.
Merge the National Emergency Management Agency and the National Commission for Refugees.
The Nigerian Institute of Social and Economic Research is to be funded by a proposed National Research Development Fund.
The National Agency for the Control of AIDS goes under the roof of the Nigeria Centre for Disease Control.
Privatise The Nigerian Communication Satellite.
National Board for Technical Education and the National Commission for Colleges of Education to morph into the Tertiary Education Commission.
Quit approving concurrent expenditure for the National Open University of Nigeria.
The Nomadic Education Commission and Mass Literacy Council go under the wing of the Universal Basic Education Commission.

The Federal Ministry of Environment and the Department of Petroleum Resources take over the National Oil Spill Detection and Response Agency.

The Ministry of Environment assumes the functions of the National Environmental Standards and Regulations Enforcement Agency.
Scrap the Institute for Peace and Conflict Resolution and transfer its functions to the Department of Strategic Studies at the Nigerian Institute of International Affairs.
Cut the Directorate of Technical Cooperation in Africa.
Federal Ministry of Trade and Investment to take over the functions of the Nigerian Copyright Commission (NCC) after repealing the law establishing NCC.
Scrap the National Productivity Centre.
Abolish the National Steel Raw Materials Exploration Agency and transfer its functions to the Nigerian Geological Survey Agency.
Scrap National Metallurgical Development Centre, Jos, and Metallurgical Training Institute, Onitsha.
Merge the Petroleum Products Pricing Regulatory Agency and the Petroleum Equalisation Fund.
 The Nigerian Content Development and Monitoring Board to accommodate the Petroleum Technology Development Fund.
Scrap the Federal Ministry of Police Affairs and saddle its functions with the Ministry of Special Duties.
Merger the National Council of Arts and Culture with the National Troupe of Nigeria and the National Theatre.
Scrap The National Power Training Institute of Nigeria.
Discard The National Centre for Technology Management.
A proposed National Commission for Museums to be formed from the merger between the National Commission for Museums and Monuments with the National Gallery of Arts.

Abolish The Nigeria Institute for Hospitality and Tourism Development Studies, and its functions were taken over by the Nigerian Tourism Development Corporation.
Shut Down all 774 field offices of the National Orientation Agency and give the duties to the Public Communications Department in the Ministry of Information and Culture.
Close down the duplicating National Institute for Cultural Orientation.
Nigerian Import-Export Promotion Commission would be formed after merging the Nigerian Export Promotion Council and the Nigerian Investment Promotion Commission.
Discard the National Centre for Automotive Design and Development Council.
Do away with the Oil and Gas Free Zones Authority while transferring its functions to the Nigerian Export Processing Zone Authority.
Stop funding the recurrent expenditure of the Maritime Academy of Nigeria, Oron but maintain the capital expenditure.
Stop funding Nigeria Football Federation as advised by FIFA.
Abolish Federal Character Commission and Fiscal Responsibility Commission.
However, the Federal Government is not prepared to sack workers, even though the President would decide what to reject and adopt out of the list.

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Economy

Nigeria’s Oil exports face threat as US- Israel attack on Iran escalates, Strait of Hormuz blockade imminent

Funso OLOJO, with agency report.
On Saturday, February 28th, 2026, the whole world woke to the shocking news of the death of the the Supreme leader of Iran, Ayatollah Ali Khomenei, in a surprise attack launched by the joint forces of the United States of America(USA) and the State of Israel.
Apart from the killing of Khomenei,  key figures on the Iranian military top hierarchy, were also assassinated, leaving the Iranian military command decapitated.
The attack and the killing of its Supreme leader has been met with swift relatiatory attacks by Iran on Israel and the military bases of the US in the Gulf States of Oman, Saudi- Arabian, United Arab Emirates (UAE), Qatar, Kuwait, Bahrain, Jordan.
However, the attack have begun to have spiral effects on the world economy as the Houthis, a fundamentalist group in the Middle East with sympathy for the Iranian cause, has threatened to attack vessels in the Strait of Hormuz.
About 20-30 percent of global oil and gas supplies are shipped through the Strait of Hormuz.
Where is the Strait of Hormuz?
The Strait of Hormuz is located between Oman and the UAE on one side and Iran on the other.

It links the Arabian/Persian Gulf, or just the Gulf, with the Gulf of Oman and the Arabian Sea beyond.

It is 33km (21 miles) wide at its narrowest point, with the shipping lane just 3km (2 miles) wide in either direction, making it vulnerable to attack.

Despite its narrow width, the channel accommodates the world’s largest crude carriers.

Major oil and gas exporters in the Middle East rely on it to move supplies to international markets, while importing nations depend on its uninterrupted operation.
How much oil and gas pass through the strait?

According to the US Energy Information Administration (EIA), about 20 million barrels of oil, worth about $500bn in annual global energy trade, transited through the Strait of Hormuz each day in 2024.The crude oil passing through the strait originates from Iran, Iraq, Kuwait, Qatar, Saudi Arabia and the UAE.

The strait also plays a critical role in the liquefied natural gas (LNG) trade.

 According to the EIA, in 2024, roughly a fifth of global LNG shipments moved through the corridor, with Qatar accounting for the vast majority of those volumes.
Analysts warned of a spike in global oil prices after Iranian officials hinted at shutting down the Strait of Hormuz, one of the most important maritime routes in the world.

On Saturday, February 28th, 2026, an official from the European Union told the Reuters news agency that vessels crossing the strait have been receiving very high frequency (VHF) transmissions from Iran’s elite Islamic Revolutionary Guard Corps (IRGC), saying “no ship is allowed to pass the Strait of Hormuz”.However, the EU official added, Iran has not officially closed the strait.

Instead, several tanker owners have suspended oil and gas shipments through the strait amid the ongoing conflict in the region.

“Our ships will stay put for several days,” a top executive at a major trading desk told Reuters on condition of anonymity. Countries like Greece have also advised their vessels to avoid transiting through the waterway.

Any instability in this important maritime route could rattle economic stability worldwide.

Implications on Nigeria of disruption of ship movement in the Strait of Hormuz.
Nigeria’s economy is basically dependent on its crude oil. It account for more than 80 percent of its revenue earnings through export sales and the funding of its annual budget is significantly based on the oil sale receipts.
Disruptions in the movement of vessels in the Strait of Hormuz will therefore have a major adverse effect on its economy and this will affect the sales of its crude oil to its customers in Europe, Asia and Middle East.
Also, the development may disrupt the relative stability in the domestic prices of petroleum products as the blockage of the Strait of Hormuz may escalate the prices of crude oil in the international market.
As of 2024–2025, the primary net importers (top destinations) of Nigeria’s crude oil are Spain, the United States, India, France, and the Netherlands.
These countries consistently import large volumes of Nigerian crude, with the US increasing its reliance on Nigerian supplies to over 50% of its African imports in 2025.
Key details regarding Nigeria’s crude oil export destinations:

Top Importers: Spain, India, and the United States are the top consistent importers of Nigerian crude.

European Partners: France and the Netherlands are major European consumers of Nigeria’s oil.

Key Growth Markets: India and Italy have shown significant growth as importers between 2023 and 2024.

Other Importers: Other notable importers include Indonesia, Canada, Ivory Coast, and the United Kingdom.

United States Reliance: The U.S. remains a major partner, with Nigeria supplying 46.618 million barrels of crude in 2025.

In 2024, Nigeria’s crude oil exports totaled roughly $40.5 billion, cementing its status as a top-10 global exporter.
So what is the Strait of Hormuz, and how will its closure impact oil prices?

The strait handles both oil and gas exports and imports.

Kuwait and the UAE import supplies sourced outside the Gulf, including shipments from the United States and West Africa.

The EIA estimated that in 2024, 84 percent of crude oil and condensate shipments transiting the strait headed to Asian markets.

A similar pattern appears in the gas trade, with 83 percent of LNG volumes moving through the Strait of Hormuz destined for Asian destinations.

China, India, Japan and South Korea accounted for a combined 69 percent intake of all crude oil and condensate flows through the strait last year. Their factories, transport networks and power grids depend on uninterrupted Gulf energy.

A spike in oil prices will impact countries such as China, India and several Southeast Asian nations.

How would the Strait’s closure impact oil prices?

According to Iranian state media, the country’s Supreme National Security Council must make the final decision to close the strait, and it has to be ratified by the government.But energy traders have been on high alert in recent weeks amid escalating tensions in the region – home to one of the largest reserves of oil and gas in the world.

Muyu Xu, senior crude oil analyst at Kpler, told reporters that since the war began on Saturday, there has been a sharp drop in vessel traffic through the strait.

“At the same time, the number of vessels idling on either side – in the Gulf of Oman and the Gulf – has surged, as shipowners grow increasingly concerned about maritime security risks following Tehran’s warning of a potential navigation closure,” he said.

“The Strait of Hormuz is critical to the global energy market, as roughly 30 percent of the world’s seaborne crude oil transits the waterway.

” In addition, nearly 20 percent of global jet fuel and about 16 percent of gasoline and naphtha flows also pass through the Strait,” Muyu said.

“On Sunday, March 1st, 2026, an oil tanker was struck off the coast of Oman, signalling a clear escalation of the conflict and a shift in targets from purely military facilities to energy assets.”

Shipping data showed that at least 150 tankers, including crude oil and liquefied natural gas vessels, have dropped anchor in open Gulf waters beyond the Strait of Hormuz.

The tankers were clustered in open waters off the coasts of major Gulf oil producers, including Iraq and Saudi Arabia, as well as LNG giant Qatar, according to the Reuters news agency estimates based on ship-tracking data from the MarineTraffic platform.

Moreover, on Sunday, March 1st, 2026,the United Kingdom Maritime Trade Operations (UKMTO) said it is aware of “significant military activity” in the Strait and said it has ⁠received a report of an ⁠incident two nautical miles north of Oman’s Kumzar, located in the ‌Strait of Hormuz.

Muyu from Kpler said a broad range of energy infrastructure is now under threat. “This is expected to sharply intensify the oil price rally and could keep prices elevated for a sustained period, potentially longer than during last June’s conflict.”

Ali Vaez, director of the Iran project at the International Crisis Group, told Al Jazeera, “Closure of the Strait of Hormuz would disrupt roughly a fifth of globally traded oil overnight – and prices wouldn’t just spike, they would gap violently upward on fear alone.”

“The shock would reverberate far beyond energy markets, tightening financial conditions, fuelling inflation, and pushing fragile economies closer to recession in a matter of weeks,” he added.

When the US and Israel bombed Iran last June, there was no direct disruption to maritime activity in the region.

What does it mean for the global economy?

Any disruption to energy flows through Hormuz will also impact the global economy, driving up fuel and factory costs.Hamad Hussain, a climate and commodities economist at the United Kingdom-based firm Capital Economics, said that for the global economy, a sustained rise in oil prices would add upward pressure to inflation.

“If crude oil prices were to rise to $100 per barrel and remain at those levels for a while, that could add 0.6-0.7 percent to global inflation,” he said, noting that this would also lead to an increase in natural gas prices.

“This could slow the pace of monetary easing by major central banks, particularly in emerging markets, where policymakers tend to be more sensitive to swings in commodity prices,” he added.

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Business

National Single Window goes live in March, 2026 

– as FG launches phase 1 of the project for trade facilitation 
Funso OLOJO
The Federal Government of Nigeria has announced the commencement of Phase 1 of the National Single Window (NSW) Project, scheduled to launch on March 27, 2026.
The launch marks a decisive step toward reforming Nigeria’s trade ecosystem through technology, transparency, and smarter regulation.
The National Single Window is a centralised digital platform designed to simplify and harmonise trade procedures by enabling traders to submit trade-related information once,
through a single interface, while relevant government agencies access, process, and approve the required documentation seamlessly.
 The initiative is expected to significantly reduce delays, eliminate duplication, curb inefficiencies, and lower the cost of doing business at Nigeria’s ports and borders.
Speaking on the transformative potential of the project during the inauguration of the project on the 16th of April 2024, President Bola Ahmed Tinubu described the National Single Window as a cornerstone of Nigeria’s trade and economic reform agenda.
“The National Single Window will change the way trade is done in Nigeria. It will replace fragmentation with coordination, opacity with transparency, and delay with efficiency,” says Presidency.
The President added that the NSW aligns with the administration’s commitment to
economic diversification, non-oil export growth, and improved ease of doing business, noting that efficient trade systems are critical to national development.
Also speaking on the initiative, the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, described the National Single Window as a game-changer that will simplify and
democratize trade in Nigeria.
Dr. Oduwole explained that the platform will streamline trade documentation through a unified window, enabling greater transparency, improved transaction tracking, and
increased trade volumes.
 She added that experienced traders, in particular, would benefit from the efficiency gains offered by the system.
Providing insight into the implementation strategy, Mr. Tola Fakolade, Director of National Single Window Project, explained that the Federal Government has deliberately adopted a phased rollout approach, beginning with Phase 1, which will focus primarily on statutory permits and manifests.
“The National Single Window will be rolled out in phases, starting with Phase 1, which concentrates on statutory permits and cargo manifests,” Mr. Fakolade stated.
“This allows us to stabilise the system, build confidence among stakeholders, and deliver immediate value where bottlenecks are most pronounced.”
According to Mr. Fakolade, the decision to phase the launch reflects lessons learned from previous large-scale technology initiatives that adopted a “big bang” approach.
“We have learned from the flaws of past big bang technological rollouts, where attempting to do everything at once created avoidable disruptions,” he noted.
 “Phasing the National
Single Window is a deliberate and strategic choice—one that prioritises sustainability, user adoption, and continuous improvement over speed for speed’s sake.”
He further emphasized that subsequent phases will gradually expand the scope of the platform, onboard additional agencies, and deepen integration across the trade value chain, ensuring a resilient and scalable system.
“This approach ensures that the National Single Window grows with the ecosystem, guided by real data, user feedback, and operational realities,” Mr. Fakolade added.
As Phase 1 goes live, the Federal Government reaffirmed its commitment to working closely with the private sector, development partners, and trade stakeholders to ensure a smooth
transition and shared ownership of the reform.
“By simplifying trade processes and leveraging digital innovation, we are unlocking faster movement of goods, strengthening revenue assurance, and creating a more competitive
environment for Nigerian businesses to thrive locally and globally.” Mr. Fakolade added.
With the launch of the National Single Window, Nigeria takes a bold and pragmatic step towards modern trade governance—one that places efficiency, transparency, and learning at the heart of national progress.
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Economy

We haven’t stopped Customs, FIRS, NUPRC, others from deducting cost of revenue collection at source – FG

Funso OLOJO
The Federal government has debunked the widely- held insinuation that it has stopped the standard practice of revenue – generating agencies such as the Federal Inland Revenue Service (FIRS), the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), and the Nigeria Customs Service (NCS) to deduct their cost of collection at source.
In a statement issued by the Federal Ministry of Finance and signed by Mohammed Manga, Director of  Information and Public Relations in the ministry, at no point did the Minister of Finance and the Coordinating Minister of Economy, Wale Edun, announced the discontinuation of such practice.
“We categorically state that these reports are inaccurate and misleading.
“At no point during his remarks at the Nigeria Development Update (NDU) programme hosted by the World Bank did the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, announce or imply any change to the existing policy on the cost of collection deductions.
“For the avoidance of doubt, there has been no policy change regarding the deduction of costs of collection at source by revenue-generating agencies. The current framework remains in effect.
“What is underway are ongoing policy discussions in line with the directives of His Excellency, President Bola Ahmed Tinubu, to review cost of collection structure.
“These discussions are part of broader efforts to enhance transparency, efficiency, and value-for-money in public financial management.
“However, no final decision has been made on this matter.
“The Ministry assures all stakeholders and the public that revenue operations continue uninterrupted and that any future adjustments will be guided by due process, stakeholder engagement, and clear communication.
“We urge media organisations to seek clarification from official sources before publishing information that may cause unnecessary confusion.
“The Ministry appreciates the continued support of Nigerians as we work collectively to build a stronger, more transparent, and sustainable economy” the statement concluded
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