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Oyetola rallies stakeholders for implementation of national policy on marine and blue economy 

– enumerates successes , projections of the ministry for the industry.
Funso OLOJO 
The Minister of Marine and Blue Economy,  Adegboyega Oyetola, has enjoined industry stakeholders to support the national policy on marine and blue economy which he believed will drive the growth and development of the industry.
The Minister make this appeal in Lagos on Thursday , July 3rd, 2025 while engaging the industry stakeholders on the need for their collaboration for effective implementation of the policy.
It could be recalled that the Federal Executive Council (FEC) in May, 2025, approved Nigeria’s 10-Year National Policy on Marine and Blue Economy from 2025-2034.
The Policy is designed with a robust implementation plan and the goal of harnessing Nigeria’s vast marine resources to drive economic growth.

At the 2nd Citizen/Stakeholders’ engagement held in Lagos, Oyetola said the approval of the National Policy on Marine and Blue Economy by the Federal Executive Council marks a critical turning point in providing a comprehensive framework to unlock value across Nigeria’s marine ecosystems.

According to him, the  policy encompasses port infrastructure, maritime security, aquaculture, ocean governance, marine biotechnology, renewable energy, coastal tourism, and climate resilience.

“Our gathering today is not ceremonial. It is a working forum designed to develop a strategic roadmap for implementation.
” We are here to design actionable frameworks, set implementation priorities, and assign clear institutional responsibilities.
“In doing so, we must focus on improving coordination, ensuring accountability, and building capacity at all levels” Oyetola told the stakeholders who gathered at the event.
The Minister further delved into the successes and projections of the ministry
” We are focused on modernising our port infrastructure.
“The Federal Government has approved the contracts for the reconstruction of the Apapa and Tin Can Ports, under the Western Port Rehabilitation Programme.
” Procurement is ongoing for the Eastern Ports. These upgrades are complemented by the deployment of digital solutions, including the Port Community System, the E-Call-Up System, and a unified One-Stop-Shop for port clearance.
“These interventions are designed to reduce delays, boost investor confidence, and reposition Nigeria as a regional maritime hub.
“We are also working to strengthen indigenous shipping capacity. Through a public-private partnership model, we are pursuing the revival of a National Carrier.
” Additionally, the Nigerian Maritime Administration and Safety Agency (NIMASA) has commenced preparatory activities for the disbursement of the Cabotage Vessel Financing Fund.
“The process is being carefully structured to ensure transparency and regulatory compliance. When operational, the Fund will significantly expand opportunities for Nigerian shipping operators.
“On revenue and service delivery, we have recorded consistent year-on-year growth across our agencies. This is largely driven by our digitization drive, which is improving operational efficiency, closing leakages, and attracting private capital into the sector.
“Furthermore, we are making concerted efforts to streamline trade facilitation, reduce procedural bottlenecks, and eliminate overlapping regulatory burdens.
“Investment opportunities are expanding in bonded terminals, dry ports, inland logistics corridors, and warehousing infrastructure.
“Our overarching objective is to make Nigeria the maritime and logistics gateway for West and Central Africa.
“​On the regional front, Nigeria is championing the operationalisation of the Regional Maritime Development Bank under the Maritime Organisation of West and Central Africa (MOWCA).
“With its headquarters here in Abuja, the Bank is poised to provide long-term financing for maritime infrastructure, thereby accelerating regional integration and supporting cross-border trade.
“Our inland waterways are also receiving priority attention. The Ministry, through the National Inland Waterways Authority (NIWA), has introduced the Inland Waterways Transportation Regulation, 2023, and launched a nationwide water safety campaign.
” We have distributed over 42,000 safety jackets, deployed ferries, patrol boats, and trained water marshals.
“These efforts are already yielding results in reducing boat mishaps across the country  and restoring confidence in water transport as a safe and viable mode of movement.
“Following the formal transfer of the Department of Fisheries and Aquaculture to our Ministry, we are repositioning the sector as a key contributor to food security and rural livelihoods.
“Ongoing efforts include reviving critical fishing terminals, automating licensing systems, and incentivising responsible private investments in both artisanal and commercial aquaculture.
“Maritime security remains central to our mandate. Through the Deep Blue Project, Nigeria has maintained zero piracy incidents in its territorial waters for three consecutive years.
“This achievement has earned us commendation from the international community and contributed to regional maritime stability.
“We are also proud that Nigeria’s offer to host the African Union Combined Maritime Task Force in Lagos has received endorsement from the AU Peace and Security Council” Oyetola enthused.
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Customs

Customs FOU A intercepts N6.19bn smuggled goods in four weeks, recovers N683.66m

–Seizes 23,220 matchets, barcotics, 21 vehicles, others

Funso OLOJO, Editor

The Nigeria Customs Service (NCS), Federal Operations Unit (FOU), Zone ‘A’, has intercepted smuggled and prohibited goods with a Duty Paid Value (DPV) of N6.19 billion in just four weeks, while recovering an additional N683.66 million in revenue through intensified anti-smuggling operations and compliance enforcement.

The Acting Comptroller of FOU Zone ‘A’, DC Oladapo Afeni, disclosed this on Tuesday, November 3rd, 2026, during his maiden press briefing in Ikeja, Lagos, where he revealed that the unit recorded 195 seizures arising from smuggling attempts across its area of responsibility.

Afeni said the seized goods had a cumulative Duty Paid Value of N6,194,695,947.05, reflecting the scale of smuggling activities confronting the unit and the intensity of its enforcement operations.

The seized items included 3,028 bags of 50kg imported rice, 6,949 cartons of smuggled spaghetti, 173 cartons of frozen poultry products, 101 bags of imported sugar and 21 foreign-used vehicles.

Other intercepted goods comprised 3,407.83kg of cannabis, 400g of cocaine, 100g of methamphetamine, 1,250 cartridges, 23,220 new matchets, 8,025 litres of petrol, used tyres, second-hand clothing and pharmaceutical products.

The Acting Comptroller said the seizures demonstrated the unit’s determination to protect government revenue, defend local industries against unfair competition and prevent dangerous and prohibited goods from entering the country.

He expressed particular concern over the interception of 23,220 new matchets allegedly smuggled into the country without the necessary certificates and permits.

According to him, the interception was especially significant given concerns that such items could be deployed to disrupt peaceful elections in the coming months.

On revenue recovery, Afeni disclosed that the unit generated an additional N683,661,304.05 between September 30 and November 3, 2026, through enhanced risk profiling, closer scrutiny of import declarations, correction of under-valuations and the issuance of demand notices.

He attributed the revenue recovery to improved intelligence gathering, stronger compliance monitoring and more rigorous examination of cargo transactions suspected of involving duty evasion.

The Comptroller said the unit had also intensified surveillance and intelligence-driven enforcement while strengthening collaboration with other government agencies to tackle smuggling and other forms of economic sabotage.

He assured importers and licensed customs agents that the unit remained committed to facilitating legitimate trade, stressing that its enforcement measures were not intended to obstruct genuine business activities.

However, he warned that the unit would not tolerate duty evasion, false declarations, smuggling or any activities capable of undermining national security and the Nigerian economy.

Afeni further disclosed that seized narcotics and arrested suspects would be handed over to the National Drug Law Enforcement Agency (NDLEA) for further investigation and possible prosecution, while other prohibited items would be transferred to the appropriate regulatory and enforcement agencies.

He reaffirmed the unit’s resolve to dismantle smuggling networks, strengthen border security and protect the national economy through professionalism, intelligence-led operations and sustained enforcement of customs laws.

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Headlines

NRC targets 10,000km rail network in five years, 20,000km long-term

Kayode Opeifa, MD, NRC

-as Opeifa believes integrated transport system key to Nigeria’s economic competitiveness

Funso OLOJO Editor 

The Managing Director of the Nigerian Railway Corporation (NRC), Dr Kayode Opeifa, has identified an integrated transportation and logistics system as critical to strengthening Nigeria’s economic resilience, reducing the cost of doing business and enhancing the competitiveness of Nigerian products.

Opeifa said an efficient transport network that connects production centres, seaports, industrial clusters, inland terminals and consumption markets would significantly reduce logistics costs, improve trade and stimulate economic growth.

He made this submission while speaking on the theme, “Scaling the Future: Building a Resilient and Efficient Mobility and Logistics Ecosystem in Nigeria,” at the BusinessDay Mobility and Logistics Conference held at Four Points by Sheraton, Victoria Island, Lagos.

According to him, persistent inefficiencies in Nigeria’s transportation network contribute to congestion, rising logistics costs, delayed deliveries, declining productivity and higher prices of goods and services.

He argued that rail transportation must occupy a strategic position in the development of an integrated national transport system, noting that improved connectivity across the different modes of transportation would translate into greater economic efficiency and competitiveness.

The NRC boss explained that rail offers high-capacity solutions for long-distance passenger and freight transportation, reduces pressure on highways and provides an important connection between seaports, industrial centres, inland terminals and urban markets.

He stressed that road, rail, maritime and air transportation should operate as complementary components of a unified logistics network rather than competing alternatives.

“Rail should not be viewed as a competitor to road, maritime or air transportation, but each should continue to develop as complementary components of an effective integrated transport system,” he said.

He noted that while road transportation remained essential for cargo collection and last-mile delivery, maritime transport facilitated international trade, while inland terminals supported cargo handling and distribution. Rail, he added, provided the high-capacity link connecting these facilities with production and consumption centres.

Opeifa maintained that seamless coordination among the various transportation modes would reduce avoidable logistics expenses, facilitate regional commerce, improve access to markets and strengthen the competitiveness of Nigerian businesses.

Outlining the NRC’s strategic direction, the managing director highlighted the corporation’s track access policy, which allows private investors to explore opportunities in passenger and freight operations along the country’s railway corridors.

He also unveiled the corporation’s Vision 2:5:10:20, a strategic framework designed to optimise existing railway assets, revive viable dormant corridors, expand freight operations, deepen private-sector participation and progressively extend the national rail network.

Under the ambitious plan, the NRC is targeting an expansion of Nigeria’s railway network from approximately 4,000 kilometres to 10,000 kilometres within five years, with a long-term ambition of reaching about 20,000 kilometres.

“Our ambition is to consistently grow the networks from approximately 4,000 kilometres that we met, to 10,000 kilometres within five years and ultimately achieving about 20,000 kilometres over the long term.

“These are no doubt strategic targets that require sustained investment and implementation,” he said.

Opeifa identified the immediate priorities as improving the utilisation of the country’s two legacy narrow-gauge lines and three standard-gauge lines, restoring operational capacity, expanding freight services and strengthening connections between railway infrastructure, seaports and inland terminals.

He explained that maximising the performance of existing railway assets would provide a foundation for future expansion while improving the corporation’s capacity to support freight and passenger movement.

On ongoing and proposed railway infrastructure projects under President Bola Ahmed Tinubu’s administration, Opeifa disclosed that efforts were being made to extend the standard-gauge railway to Apapa Port and establish a connection to Tin Can Island Port.

The proposed connections, he said, were intended to improve cargo evacuation, reduce pressure on road infrastructure and strengthen the interface between Nigeria’s railway network and maritime trade facilities.

He further disclosed that the Kano-Maradi railway project was expected to be completed in 2027, while plans were underway for a central railway corridor linking the Warri-Itakpe line to Abuja.

According to him, the government also plans to commence construction of the Marina-Lekki railway line, alongside efforts to support the Kaduna-Kano inter-state train service and the proposed intra-state railway services of the Kano State Government.

He said the projects formed part of broader efforts to expand railway connectivity, improve passenger mobility and facilitate the movement of goods across the country.

Also speaking at the conference, the Director-General of the Africa Centre for Supply Chain (ACSC), Dr Obiora Madu, warned that small-scale businesses would continue to struggle unless Nigeria addressed the fragmentation and inefficiencies within its transportation and logistics networks.

Madu estimated that the country loses more than N3.6 trillion to inefficiencies and distortions in the transportation and logistics sector, arguing that an interconnected system would unlock significant economic opportunities.

“If we don’t get the logistics right, the small-scale businesses would not be optimised. We do not need digital islands, we do not need superlative infrastructure, what we need is connected systems,” he said.

He maintained that developing a resilient logistics ecosystem required more than the expansion of individual infrastructure components, stressing the importance of coordination, connectivity and the ability of the entire system to withstand disruptions.

Similarly, the Managing Director of JanksMay Global Services Ltd., Ifeanyi Onwuachu, identified persistent infrastructure deficits as a major constraint affecting small-scale operators in the logistics industry.

He said the difficulties confronting operators underscored the need for improved infrastructure and more efficient transportation connections to support business activities.

Earlier, in his welcome address, the Deputy Editor-in-Chief of BusinessDay, Dr Innocent Nna, described the Mobility and Logistics Conference as an important platform for examining persistent challenges in Nigeria’s logistics sector and exploring practical solutions.

Nna urged industry stakeholders to engage in constructive discussions on the gaps confronting the country’s transportation and logistics systems, with a view to identifying measures that would improve efficiency and strengthen the sector.

The conference brought together stakeholders across the transportation, logistics and business sectors to examine strategies for building an integrated, efficient and resilient mobility ecosystem capable of supporting economic growth and improving the competitiveness of Nigerian businesses.

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Headlines

Omatseye blows hot as he maintains stance over CVFF dollar to naira conversion controversy.

Dayo Mobereola, Temisan Omatseye

— claims he left N52 bn in fixed deposit at his exit in 2010

Funso OLOJO, Editor

The last may not have been heard about the war of words between the two helmsmen at the Nigerian Maritime Administration and Safety Agency (NIMASA) over the alleged controversial conversion of the dollar component of the Cabotage Vessels Financing Funds (CVFF) into Naira.

Temisan Omatseye, the former Director General of NIMASA from July 2009 to December 2010, had claimed that the Agency converted the dollar remittances into the CVFF pool into Naira for higher interest rates.

Temisan made this claim at a public function in Lagos where he was speaking on the controversial CVFF delayed disbursement.

In a swift reaction, the incumbent NIMASA DG, Dr Dayo Mobereola, fired back, dismissing Temisan’ s claim as “misleading which does not reflect the true situation of CVFF”

In a press statement he personally signed on Sunday, November 1st, 2026, Mobereola said all the remittances into the CVFF pool are retained in their original currencies of remittance.

He explained that the revenue streams accruing to the CVFF are denominated in different currencies.

“Accordingly, funds remitted in United States dollars are retained in dollars with the Central Bank of Nigeria (CBN), while contributions remitted in naira are retained in the local currency.

“There has been no conversion of the dollar-denominated component of the CVFF to naira, contrary to the allegation”

However, Temisan, in his reaction to the rebuttal by Mobereola as reported by our reporter, maintained his stance on the controversy.

In his defence of his position on the matter, which he made in reference to the report by this platform, Omatseye declared emphatically that such conversion was made during his tenure as the DG of NIMASA.

“By virtue of the seasonal headline that I lied, there is a need to clarify exactly what was said.

“When I became DG NIMASA in 2009. the Agency’s account, be it CVFF or 3% ,were held in commercial banks.

” Several banks were nominated as collection banks but on the 23rd of each month, there was what we called sweep, where all monies, be it dollars or naira, were swept from the different collection banks accounts to designated naira and dollar accounts.

“By virtue of a memo from the Accountant General’s office, the Agency was directed to change all foreign internally generated revenue, be it 3% or CVFF, into naira and fix it in naira.

” The reason I was made to understand was that the dollar earned 1-2% interest whereas naira earned upward of 15% interest. Which made sense.

“This was the practice until I left office. I was explaining to the audience what had transpired during my tenure.

“What has been the practice since the advent of TSA is better explained by NIMASA.

“In the light of that, I stand fully by my statement that during my tenure, all dollar funds received as CVFF were converted into naira.

“I really don’t understand where I’m being accused of lying by NIMASA.

” I read NIMASA position which is correct based on correct realities and my position is based on my realities at the time I was in office.

” On the day I left NIMASA which was 13th December 2010, there was being held in fixed deposit N52 billion which included both CVFF and Maritime fund” Temisan declared , clarifying his position on the controversial matter.

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