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At Lagos Trade Fair, Dantsoho woos local, foreign investors to patronise Nigerian Ports 

Funso OLOJO 

The Managing Director of the Nigerian Ports Authority (NPA), Dr Abubakar Dantsoho, has invited the trading and investing public to avail themselves of the innovative services at the Nigerian Ports to boost their businesses.

Dantsoho, who was speaking at the Lagos International Trade Fair at NPA stand, disclosed that the automation system at the Nigerian ports will enhance the businesses of both local and foreign investors.

The NPA boss, who spoke through the Executive Director, Engineering & Technical Services, Engr. Ibrahim Abba Umar, explained how the Export Process Terminals (EPTs) in partnership with the Nigerian Exports Promotion Council (NEPC) serve as a one-stop-shop for stuffing, packaging, and certification of export-bound cargo in quick turnaround time.

He further disclosed that this streamlined export process eliminates duplications and bureaucratic overlaps that previously rendered Nigerian exports uncompetitive, adding the present arrangement now strengthens  domestic economy and balance of trade.

 Dantsoho stated that the EPTs will link with Domestic Export Warehouses (DEWs) in synergy with NEPC and partners to enhance Port-Hinterland connectivity and enable Small and Medium Scale Enterprises (SMEs) to participate in the value chain.

“To support the Federal Government’s ease of doing business agenda, we are pursuing full automation through the Ports Community System (PCS), laying groundwork for the National Single Window (NSW), which connects all trade stakeholders for seamless interaction at the push of a button.

“The fair’s theme, “Connecting Businesses, Creating Value,” aligns with our corporate aspirations as a business-enabling agency.

He assured every stakeholder that NPA is open to partnerships beyond this fair and warmly invited all to engage the agency’s business development team at the NPA stand and visit its interactive website nigerianports.gov.ng to access the organization’s growth offerings.

Dantsoho however commended the Lagos Chamber of Commerce and Industry for the resilience to sustain the culture of hospitality and business friendliness that has continued to attract people from all over the globe to the trade fair for deepening economic prosperity.

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Foreign

Oil prices expected to crash as President Trump announces reopening of Strait of Hormuz 

— US- Iran complete ceasefire agreement 
Funso OLOJO with Agency Report 
A soothing air of relief swept through the global shipping and oil markets as the United States of America and the Islamic Republic of Iran, in the late hours of Sunday, June 14th, 2026, announced a permanent ceasefire agreement to end the three months hostilities.
The USA and Israel have been at war with Iran since March 2nd, 2026 which has led to the closure of the Strait of Hormuz by Iran, an action that has thrown the global energy market into an unprecedented tumult due to the resultant high energy costs.
About 20 percent of the world’s seaborne oil trade passes through the Strait of Hormuz which is controlled by the Iran.
The closure of the Strait has restricted the movement of oil tankers through the vital route which led to an astronomical increase of petroleum products.
However, after three months of hostilities between the Israeli /US armies and Iran, a  ceasefire deal was announced by the President of the United States, Mr Donald Trump while ordering the opening of Strait of Hormuz and the removal of US Naval blockage of the Strait.
“The Deal with the Islamic Republic of Iran is now complete. Congratulations to all!,” Trump declared in a post on his Truth Social platform.

“I hereby fully authorize the toll free opening of the Strait of Hormuz, and, simultaneously herewith, authorize the immediate removal of the United States Naval blockade,” he added.

Trump also signaled the resumption of maritime traffic and energy shipments through the strategic waterway, writing: “Ships of the World, start your engines. Let the oil flow!”

He did not provide additional details about the agreement or implementation of the measures in his statement.

Pakistani Prime Minister, Shehbaz Sharif, also announced early Monday that the US and Iran have reached a peace agreement following intensive negotiations.

“Following intensive talks, we are pleased to announce that the Peace Deal between the United States of America and Islamic Republic of Iran has been REACHED,” Sharif said in a post on the US social media platform X.

He added that “both sides have declared the immediate and permanent termination of military operations on all fronts, including in Lebanon.”

According to Sharif, the official signing ceremony is scheduled to take place on June 19 in Switzerland.

The development is expected to restore confidence in global energy markets, as approximately one-fifth of the world’s seaborne oil trade passes through the waterway.
Analysts believe the resumption of tanker traffic could ease supply concerns and reduce the geopolitical risk premium that has driven up crude oil prices in recent months.
They also claimed that market reaction is expected to be bearish for crude oil because:
Roughly 20 percent  of global seaborne oil trade moves through the Strait of Hormuz.
It is also expected that reopening the route would restore tanker traffic from major Gulf producers.
The reopening of the Strait is likely to  lead to reduced geopolitical risk which will generally lowers the “war premium” built into oil prices.
The Freight and insurance costs for tankers are likely to fall as security concerns ease.
For Nigeria, lower global crude prices could mean:
Reduced foreign exchange earnings from oil exports, potential pressure on government revenue projections, lower import costs for refined petroleum products and possible moderation of domestic fuel prices if international prices decline significantly.
The Strait of Hormuz was officially declared closed by Iran on June 11, 2026, following US attacks on Iranian targets. This followed a previous ,prolonged period of effective closure that began on March 2rd, 2026, stemming from heightened military conflict.
On March 2, 2026, the IRGC announced the strait closed, causing a significant reduction in shipping traffic and a spike in global oil prices.
While briefly opened on April 17th, 2026, after a short-lived ceasefire, the strait was quickly closed again on April 18th, 2026, due to continued tensions.
On June 11, 2026, Iranian military command announced a total shutdown of the strait, targeting commercial shipping and oil tankers.
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Headlines

The burden of refloating Nigeria’s national carrier

Ibrahim Nasiru

The Monday Discourse with Ibrahim Nasiru focuses on the attempts of Nigerian government to refloat the new national carrier that will replace the sunken Nigeria National Shipping Line(NNSL) and the heavy burden of paying the severance package of the retired seafarers who worked on the beleaguered shipping line almost 30 years after it was liquidated.

How can we float a new carrier when the foundation is still underwater?

This Monday, I am breaking down a heavy debt of honour hanging over Nigeria’s blue economy.

The government wants to launch a new national shipping line to stop bleeding $10 billion annually to foreign vessels.

The economic logic makes sense, but the foundation is completely broken.

Almost 30 years after the NNSL was liquidated, thousands of retirees are still waiting for their final severance pay.

Many have died in poverty waiting for bank alerts that never came.

Treating our pioneers like garbage sends a terrifying message to the next generation of cadets.

We need reconciliation before we talk about refloating.

Look out for the full piece tomorrow morning: “The Debt of Honour: No Progress Without Peace.”

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Customs

Comptroller Anani  vows not to compromise on compliance with Customs extant laws, warns defaulters of dire consequences 

— seeks support of stakeholders 
Funso OLOJO, Editor 
The new Customs Area Controller of the  Tin can Island Port Command, Comptroller Joseph Anani, has hit the ground running after few days of assuming duties at the command.
To show his determination to sustaining  the tempo of operational success at the command, Comptroller Anani has warned the trading public plying their trade at the command of dire consequences for flouting any of the operational guidelines as spelt out in the Customs Act of 2023.
He also pledged to enhance trade facilitation, build robust synergy and collaboration with sister agencies and sustain the cordial relationship with stakeholders through constant engagement and collaboration.
The ensure successful tenure at the command, the Comptroller Anani engaged in a series of engagement with his officers at various formations, the terminal operators, freight forwarders, and other sister agencies where he sought for their collaboration and support.
He flagged off the engagement with a tour of Customs formations and terminals within the Command to obtain first-hand knowledge of available facilities, assess officers’ working conditions, and evaluate the overall operational environment.
The tour was aimed at improving workplace standards and ensuring that officers are adequately positioned to deliver on the mandate of the Nigeria Customs Service.
Following this, the Comptroller convened a strategic meeting with major freight forwarding associations, including the Association of Nigerian Licensed Customs Agents (ANLCA), National Association of Government Approved Freight Forwarders (NAGAFF), the National Council of Managing Directors of Licensed Customs Agents (NCMDLCA), APFLON, and other industry players.
During the engagement, he emphasized the importance of compliance, professionalism, and partnership in achieving seamless trade operations.
Comptroller Anani outlined a blueprint anchored on total compliance with all Customs procedures and extant laws, particularly the provisions of the Nigeria Customs Service Act, 2023.
He called for higher standards in all port transactions and warned against any form of indiscipline, misconduct, or practices capable of undermining the integrity of the Service.
“We are setting a new tone anchored on compliance, collaboration, and service excellence. Every stakeholder has a role to play in making Tin can Island Port a model of trade facilitation and operational efficiency.” he said.
The Comptroller also hosted key stakeholders, including terminal operators, shipping companies, importers, exporters, and captains of industry, at a roundtable meeting designed to chart a progressive course for the Command.
He assured stakeholders of an open-door policy and pledged to create a conducive environment that supports legitimate trade and economic growth.
He further urged terminal operators to improve infrastructure within their facilities and create additional operational spaces capable of attracting more vessel traffic, thereby enhancing the competitiveness and efficiency at the port.
Recognizing the importance of collaboration in achieving national security objectives, Comptroller Anani paid a courtesy visit to the Commissioner of Police, Port Authority Police (Western Command), CP Toyin Agbaminoja.
During the meeting, both leaders reaffirmed their commitment to strengthening cooperation on issues relating to national security, port operations, and the safety of lives and property.
The Commissioner of Police pledged the continued support of the Nigeria Police Force through intelligence sharing and operational collaboration.
In a similar move to reinforce the fight against illicit trade and transnational crimes, Comptroller Anani visited the Commander of Narcotics, National Drug Law Enforcement Agency (NDLEA), Commander Solomon Omotosho.
During the visit, both agencies discussed strategies for sustained synergy in combating drug trafficking and the activities of drug peddlers operating within and around the port environment.
 They emphasized the need for intelligence-driven operations, information sharing, and coordinated enforcement actions to prevent the movement of illicit narcotics through the nation’s gateways.
Comptroller Anani expressed profound appreciation to the Comptroller-General of Customs, Bashir Adewale Adeniyi, for the confidence reposed in him through his appointment as the Customs Area Controller of the nation’s premier port command.
 He pledged to justify the trust by consolidating on existing achievements while advancing the core mandates of the Nigeria Customs Service.
The Controller noted that the Command will continue to draw from the policy thrust of the Comptroller-General of Customs, anchored on Consolidation, Collaboration and Innovation, as guiding principles for enhancing trade facilitation, revenue generation, stakeholder engagement, and national security.
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