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.

Headlines

NIWA partners ICPC to strengthen internal transparency in its operations

Gloria Odion, Maritime Reporter

The National Inland Waterways Authority (NIWA) has announced new strategies aimed at improving its operational system and enhancing collaboration with key stakeholders as part of efforts to boost efficiency and accountability.

Speaking at a post event Press Conference at NIWA Headquarters Lokoja, the Acting Managing Director, Umar Yusuf Girei, while answering questions from journalists stated that, the organization convened a two -day Executive and Anti-Corruption training with the theme “Strengthening Integrity and Revenue System in Inland Waterways Management” organized for Board Members, Management and Area Managers and also 2026 NIWA Management Retreat in Abuja.

The Acting MD noted as part of the Renewed Hope Agenda of President Bola Ahmed Tinubu,with the support Adegboyega Oyetola, Minister of Marine and Blue Economy, the Authority is focused on aligning institutional goals in ensuring better service delivery to Nigerians.

He further said, as part of its anti-corruption drive, the Management held discussions with the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to explore measures for strengthening transparency within its operations.

Girei therefore, assured staff that the ongoing reforms under his watch would translate into improved service and better working conditions.

“NIWA remains committed to continuous improvement and stakeholder engagement and the reforms are expected to enhance both internal performance and public confidence”. he stated.

Headlines

Navy appoints new Maritime Guard Commander for NIMASA

Gloria Odion, Maritime Reporter

The Chief of the Naval Staff, Vice Admiral Idi Abbas, has approved the appointment of Commodore Reginald Odeodi Adoki as the Commander of the Maritime Guard Command at the Nigerian Maritime Administration and Safety Agency (NIMASA).

Commodore Adoki takes over from Commodore H.C Oriekeze who has been redeployed.

Commodore Adoki, a principal Warfare Officer specializing in communication and intelligence, brings onboard 25 years experience in the Nigerian Navy covering training, staff and operations.

As a seaman, he has commanded NNS Andoni, NNS Kyanwa and NNS Kada.

It was under his command that NNS Kada under took her maiden voyage, sailing from the country of build (the United Arab Emirates) into Nigeria.

He was commissioned into the Nigerian Navy in 2000 with a BSc in Mathematics.

He has since earned a Masters in International Law and Diplomacy from the University of Lagos and an M.Sc in Terrorism, Security and Policing at University of Leicester, England.

He is currently pursuing a Ph.D in Defence and Security Studies at the National Defence Academy (NDA).

He is a highly decorated officer with several medals for distinguished service.

Welcoming the new MGC Commander to the Agency, the Director General, Dr Dayo Mobereola, expressed confidence in Adoki’s addition to the team, emphasising that it will further strengthen the nation’s maritime security architecture given his vast experience in the industry.

The Maritime Guard Command domiciled in NIMASA was established as part of the resolutions of the Memorandum of Understanding (MoU) with the Nigerian Navy to assist NIMASA strengthen operational efficiency in Nigeria’s territorial waters, especially through enforcement of security, safety and other maritime regulations.

Customs

Customs collects N1.585 trillion from 51 compliant traders under AEO programme

Funso OLOJO, Editor

The Authorized Economic Operator (AEO), one of the trade facilitation tools introduced by the Nigeria Customs Service in 2025, has begun to yield bountiful harvests with the revenue growth of ₦362.79 billion recorded in 2025.

According to the AEO scorecard released by the Service, the facilitation tool grossed the sum of N1.585 trillion after certification, an increase revenue from N1.222 trillion before certification.

This represents the growth of N362.79 billion(29.68 per cent) for 51 AEO – certified entities as at October, 2025.

The Programme, according to the NCS, also contributed 21.77% to its total revenue collection of ₦7.281 trillion in 2025, while customs duties paid rose by 85.66% due to enhanced compliance and increased volumes of legitimate trade.

According to AEO Monitoring and Evaluation (M&E) Report, the Programme achieved an average compliance rate of 85.45 per cent with the highest at 100 per cent and the lowest at 60 per cent.

“The evaluation applied rigorous methodologies to ensure objectivity, transparency, and alignment with the World Customs Organisation (WCO) SAFE Framework of Standards and the provisions of the Nigeria Customs Service Act, 2023.

“In the area of trade facilitation, AEO participation reduced average cargo clearance time from 168 hours to 41 hours, representing a 75.60% time saving.

“Company operating costs declined by 57.2 per cent while demurrage payments dropped by 90 per cent, limiting capital flight to foreign-owned port service providers and strengthening foreign exchange retention.

” Overall trade efficiency improved by 77.11 per through digitalisation, simplified procedures, and targeted risk management” the Customs declared in the AEO scorecard.

However, the Service singled out with Eight companies for commendation due to their integrity and compliance under the programme.

The companies include Coleman Technical Industries Limited, WACOT Rice Limited, ROMSON Oil Field Services Ltd, WACOT Limited, Chi Farms Ltd, CORMART Nigeria Ltd, PZ Cussons Nigeria Plc, Nigerian Bottling Company Limited and MTN Nigeria Communications Plc.

The Service lauded them for a cumulative voluntary remittance of over a billion naira into the Federation Account following their self-initiated transaction review and disclosure.

“These actions reflect the strengthening of post-clearance audit mechanisms and a growing culture of voluntary compliance within the trading community.

Nevertheless, the Service suspended a firm under the programme for its non- compliance and display of lack of integrity.

The suspended firm engaged in false declaration of consignments contrary to programme obligations.

“Consequently, the Comptroller-General of Customs, Bashir Adewale Adeniyi, directed the immediate suspension of the company’s AEO status in accordance with the AEO Guidelines, the WCO SAFE Framework of Standards, and Section 112 of the Nigeria Customs Service Act, 2023.

The NCS reiterated that the AEO Programme is founded on trust, transparency, and continuous compliance.

“While compliant operators will continue to benefit from expedited clearance and reduced inspection, appropriate sanctions will be applied where violations are established.

“The Service remains resolute in safeguarding national revenue, facilitating legitimate trade, and preserving the integrity and global credibility of Nigeria’s AEO framework” the NCS concluded in the report.