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The Fear of Malta

 Pius Mordi 
In the heat of the allegation by Aliko Dangote that international oil companies and NNPCL were denying his refinery access to Nigerian crude oil to buy, some commentators wondered why Dangote did not do his homework and secure a guaranteed regular supply of crude oil from NNPCL and the IOCs before investing almost $20 billion into building what is reputed as the biggest refinery in the world.
 It’s an unusual assumption to make for a project the Nigerian government had repeatedly touted as the final solution to the spectre of importation of refined products that orchestrated the bleeding of the economy through a nebulous oil subsidy regime.
Apart from banking on it, the federal government had also invested public funds into the project.
 Initially put at 20 percent of the stakeholding, Godwin Emefiele, former governor of the Central Bank of Nigeria (CBN) had claimed on May 22, 2023, when then President Muhammadu Buhari initially commissioned the refinery before its completion that the Dangote Group had paid back 70 percent of the loans it took to construct an oil refinery.
But earlier this July, Dangote himself announced that NNPCL’s shareholding has been whittled down over failure to pay the balance of the value of its stake in June.
 “Now, they only own a 7.2% stake in the refinery,” he declared.
On July 29, 2024, Dangote Refinery’s nightmare was summarily resolved.
President Tinubu unilaterally ordered NNPCL to sell crude oil and in naira to the refinery.
 In addition to committing to supply four of the 15 cargoes of crude oil required yearly at a cost of $13.5 billion, the Federal Executive Council (FEC) approved that the 450,000 barrels allocated for domestic consumption be offered in Naira to Nigerian refineries, using the Dangote refinery as a pivot.
The reprieve for Dangote came after curious but intriguing layers of false claims were put up by oil industry chiefs from NNPCL to undermine and justify their refusal sell crude oil to the refinery.
After the claim that Dangote’s products were inferior to imported ones fell like a pack of cards with the revelation that the refinery’s laboratory had certified that its own products have superior quality to the ones NNPCL imports, a false narrative was invented.
According to the story promoted by the state oil company, due to operational and technical problems, the refinery was reselling crude oil from the United States and Nigeria.
Stating that it is not authorised for it to resell crude acquired in Nigeria, Anthony Chiejine, Dangote Industries Limited spokesman, urged the public to disregard what he termed as false narratives intended to discredit the refinery.
 Not one to shy away from this sort of war being waged against his conglomerate, Aliko Dangote himself fought back.
He pointedly accused those running Nigeria’s oil industry of mischief for personal interests.
 He alleged some personnel of NNPCL, oil traders and terminals have opened a blending plant in Malta, affirming that the areas of the blending plants are known.
 Pointedly, he said “Some of the terminals, some of the NNPC people and some traders have opened a blending plant somewhere off Malta,” he said.
“We all know these areas. We know what they are doing.”
More than the support Nigerians gave to Dangote in the face of the illogical attempts by NNPCL bigwigs to cripple the refinery, his allegation ruffled feathers.
 Although no names were mentioned, top state operatives queued to exonerate themselves.
 Mele Kyari, Group Managing Director of NNPCL, went a step further to dare Dangote to name the culprits.
The billionaire didn’t have to go that far for the impact was instantaneous.
Even Oando plc which Dangote never mentioned got involved.
 In a tweet amplified by Bayo Onanuga, President Tinubu’s spokesman amplified, he said Oando, “Nigeria’s leading indigenous oil firm” debunked rumours that its directors are the owners of an oil blending plant in Malta.
The oil business is denominated in dollars with the chain so complex that Nigeria could have earned incomes across various frontiers.
 The National Shipping Policy enunciated by Ibrahim Babangida’s administration had stipulated that Nigerian-owned ships should be involved in the affreightment of crude oil export.
The policy stipulated that they should be allowed to lift at least 50 percent of crude oil exports.
 Indigenous shipping companies have noted that more than $600 million is spent annually for the transportation of crude oil across the oceans.
Enabling them to be part of it could potentially plough $300 million of that back into the economy.
And given that oil is lifted under Cost, Insurance and Freight (CIF) terms, more income could have been earned by Nigeria if local insurance companies were involved in the provision of marine insurance cover.
NNPCL rebuffed every move to involve Nigerian companies in the lucrative, but oily business.
 Tinubu’s intervention is timely and appropriate. The only issue is why it took this long for him to call NNPCL top guns to order.
But having started, he should go the whole hog.
Officials in the behemoth’s reputation for their infamous inclination to shield their operations from critical prying eyes of the public, including lawmakers is legendary.
 They definitely misfired in their latest venture to cripple an organisation Nigerians had pinned their hope on getting refined products at a cheaper rate.
 The cartel is powerful, very powerful. They are richer than Nigeria and the government and can go all the way to maintain the status quo.
President Tinubu should sustain the tempo of his intervention and complete the job.
He should get rid of the present crop of managers of the subsidiaries of NNPCL as well as the behemoth itself and open up the company to public scrutiny.
 Will he, can he?
Mr Pius Mordi is a maritime journalist and an Aide to the Delta State governor
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Headlines

Maritime Journalists’ associations fuse, hold unity conference on sectorial reforms

Adegboyega Oyetola

Gloria Odion, Maritme reporter

The Network of Nigerian Maritime Journalists (NNMJ) is set to bring together leading government officials, maritime regulators, industry experts and private sector operators at its Unity Conference scheduled for Friday, November 13th, 2026, in Lagos, to deliberate on reforms and strategies for repositioning Nigeria’s maritime industry.

The conference, scheduled for 11:00 a.m. at the Airport Hotel, Ikeja, will focus on the performance, policy direction and reform agenda of the maritime sector under President Bola Ahmed Tinubu’s administration, with particular emphasis on seaport modernisation, trade facilitation and revenue generation.

Former Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Barrister Temisan Omatseye, will chair the conference, while the Minister of Marine and Blue Economy, Adegboyega Oyetola, will attend as Special Guest of Honour.

Renowned maritime lawyer, Barrister Emeka Akabogu, SAN, is expected to deliver the keynote address on the theme, “Seaport Modernisation, Trade Facilitation and Revenue.”

The conference is expected to provide a platform for critical engagement among policymakers, industry operators and other stakeholders on practical measures to improve port efficiency, strengthen maritime infrastructure and maximise the sector’s contribution to national economic development.

Deliberations will centre on the modernisation of Nigeria’s seaports, rehabilitation and renewal of critical maritime infrastructure, streamlining of cargo clearance procedures, trade facilitation and initiatives to improve the ease of doing business.

Participants will also examine strategies for enhancing government revenue, plugging financial leakages and tackling operational bottlenecks that continue to affect the efficiency and competitiveness of the maritime industry.

Other issues expected to feature prominently include investment opportunities in the marine and blue economy, employment generation, maritime safety and security, and measures to strengthen Nigeria’s position in the global maritime industry.

The gathering is expected to attract heads of maritime agencies, managing directors of shipping companies, terminal operators, freight forwarders and other key stakeholders across the maritime value chain.

According to the organisers, the Unity Conference is designed to encourage constructive dialogue, deepen public-private sector collaboration and generate policy recommendations capable of improving port operations, facilitating legitimate trade and unlocking the vast economic potential of Nigeria’s maritime sector.

The conference will also underscore the role of maritime journalism in promoting transparency and accountability, providing independent industry analysis and keeping the public informed about government policies, regulatory developments and reforms within the marine and blue economy.

Through the initiative, NNMJ seeks to strengthen professional relationships within the maritime industry, foster greater cooperation among stakeholders and provide a platform for exchanging ideas and developing practical solutions to the challenges confronting the sector.

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Mustapha Mohammed leads NANTA delegation to WTM London as NTDA stages comeback

Mustapha Mohammed

Funso OLOJO, Editor 

Nigeria’s organised private tourism sector is taking the lead in restoring the country’s presence on the global tourism stage as the National Association of Nigeria Travel Agencies (NANTA) prepares to showcase the country’s tourism potential at the 2026 World Travel Market (WTM) in London.

The three-day international tourism exhibition, scheduled for November 3 to 5, will see NANTA lead a delegation of Nigerian tourism stakeholders, with the Nigerian Tourism Development Authority (NTDA) also expected to participate, marking Nigeria’s return to the global marketplace after missing last year’s edition.

The renewed participation is particularly significant against the backdrop of Nigeria’s inconsistent presence at the annual exhibition since 2013, following the departure of Otunba Segun Runsewe from the then Nigerian Tourism Development Corporation (NTDC), now NTDA.

The absence of a sustained government-backed presence at the event has, over the years, raised concerns about Nigeria’s visibility, destination marketing and competitiveness in the international tourism market.

In response, NANTA stepped in to sustain the country’s participation, mobilising its members and privately sourced resources to secure Nigeria’s presence at WTM London for three consecutive years between 2022 and 2024, without government funding.

The association subsequently handed over the responsibility to the Federal Government through the then Ministry of Tourism and its relevant agency at a ceremony during the 2024 edition of the exhibition, in the hope of ensuring a more sustainable national participation.

This year’s outing will be led by NANTA’s First Deputy President, Mustapha Mohammed, who is heading a high-powered delegation to London in what represents his first international assignment since his election into the association’s leadership.

Mohammed is representing NANTA President, Dr Yinka Folami, who is currently engaged in another assignment on behalf of the association.

Speaking from London ahead of the exhibition, Mohammed expressed excitement about leading the delegation, commending NANTA members for their commitment and sacrifices towards promoting Nigeria’s tourism industry.

“I feel privileged to lead this great association to the London travel market and, most interestingly, to inspire again the return of Nigeria to the global tourism and travel trade market.

“We are proud to be the only association with a dedicated stand at WTM London, and I must thank our president, Dr Yinka Folami, for making this happen.

“As usual, we expect the teeming numbers of NANTA members to be here to make Nigeria proud. We understand NTDA will be here, and together, Nigeria’s tourism flag will fly again,” he said.

Meanwhile, NANTA’s immediate past president, Susan Akporiaye, has arrived in London ahead of the exhibition. She is reportedly coordinating efforts to facilitate the Federal Government’s participation through the NTDA and ensure a smooth national outing.

Her involvement reflects her continued engagement with the industry’s international promotion efforts, particularly the drive to ensure that Nigeria’s representation at global tourism exhibitions is coordinated by experienced industry stakeholders.

Also expected at WTM London is the Chairman of the Nigeria Tourism Sector Skills Council and immediate past President of the Federation of Tourism Associations of Nigeria (FTAN), Nkereweum Onung.

Onung, who also serves as Honorary Senior Special Adviser on Culture and Tourism to Akwa Ibom State Governor, Pastor Umo Eno, is expected to use the international platform to promote Nigeria’s tourism opportunities and strengthen engagement with global industry players.

He is also expected to unveil a new tourism marketing company, Experience Ibom, later in the year as part of efforts to market Akwa Ibom State as a destination for domestic and international tourists.

The initiative is expected to complement Governor Eno’s tourism development agenda, which includes investments in tourism infrastructure and efforts to position the state as an attractive destination for visitors.

For Nigeria, the return to WTM London presents an opportunity to rebuild international tourism relationships, attract destination-marketing partnerships and draw investment into the country’s largely untapped tourism assets.

Beyond the international attention generated by Afrobeats and Nigeria’s rich culinary heritage, particularly its globally celebrated Jollof rice, stakeholders believe the exhibition offers an avenue to translate the country’s cultural appeal into concrete tourism opportunities.

With NANTA providing a strong private-sector presence, the anticipated participation of the NTDA and the involvement of other industry stakeholders, the focus will be on converting Nigeria’s renewed visibility into business partnerships, investment commitments and increased international visitor arrivals.

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Commentaries

The CVFF Controversy: Why  war of words won’t buy Nigerian ships

Monday Discourse with Ibrahim Nasiru

The ongoing conversation regarding the disbursement of the Cabotage Vessel Financing Fund (CVFF) to indigenous shipping owners has taken a dramatic and highly confusing turn.

For over twenty years, local shipowners have looked forward to this fund as the critical lifeline that would finally allow Nigerians to own high-capacity vessels, dominate our own coastal waters, and stop foreign ships from taking over our maritime economy.

But while the bureaucracy delayed, the narrative became deeply fractured.

The maritime industry was recently rocked by a shocking revelation from former NIMASA Director-General ,Temisan Omatseye, at the 2026 Shipping Correspondents Association of Nigeria (SCAN) Summit.

Omatseye exposed what he described as a legacy structural error, claiming that dollar receipts collected from local operators were historically swept and converted into Naira by the Accountant-General’s office to chase higher domestic interest rates.

In a swift and aggressive counter-response dated November 1, 2026, the current Director-General of NIMASA, Dr. Dayo Mobereola, flatly dismissed the claims.

Mobereola insisted that there has been absolutely no conversion of the dollar-denominated component of the fund, asserting that all USD contributions remain fully intact within the Central Bank of Nigeria (CBN).

This public clash between a former helmsman and the current leadership creates a massive transparency crisis.

In the global maritime industry, shipping assets are priced strictly in US Dollars. If Omatseye’s account of past historical conversion is true, then a massive portion of the fund’s purchasing power has vapourized due to the recent steep devaluation of the Naira.

If Mobereola’s denial is correct, then the full $700 million value remains intact.

To settle this confusion once and for all, the Ministry of Marine and Blue Economy must move beyond mere press statements.

The government must immediately open its financial records and publish the certified CBN account balances of the CVFF.

Stakeholders deserve an independent audit, not a war of words.

Meanwhile, the long-awaited application portal launched by the Ministry continues to run straight into a banking brick wall.

Out of nearly a hundred applications, disbursements remain stalled because Primary Lending Institutions (PLIs) are demanding rigid credit terms, strict 15% cash equity, and long-term cargo guarantees.

As leaders within the Nigerian Indigenous Ship-owners Association (NISA) and the Shipowners Association of Nigeria (SOAN) have long lamented, many local shipowners are already heavily indebted, with their existing assets trapped by AMCON.

Demanding heavy cash equity and unachievable bank conditions to access their own contributed funds is simply setting local operators up to fail.

What does this portend for Nigeria?

Foreign vessels will continue to dominate our coastal waters, taking away billions of dollars in freight capital, while our youth lose out on thousands of seafaring jobs.

Minister Adegboyega Oyetola and NIMASA must stop the endless circular arguments. The government must immediately engage genuine indigenous shipowners, simplify the rigid banking rules, and provide full account transparency.

Our blue economy cannot float on a sea of endless delays and conflicting balance sheets. It is time to let Nigerian shipowners see the books, access the funds, and secure our waters.

Ibrahim Nasiru, a public affairs analyst, writes from Abuja 

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