Business
BUA Decries Friction Among Ports Agencies
Multiplicity of service
processes by customary government agencies in the ports and friction among them due to overlapping functions, constitute bottleneck to international best practices in seaport terminal operations.
The General Manager of BUA Ports and Terminals Ltd, Port Harcourt, Alhaji Mohammed Ibrahim Lile, made this assertion during an awareness seminar on the role of the Nigerian Shippers Council as ports economic regulators held in Port Harcourt, Wednesday.
Lile, in his paper, “Enhancing Shipping Services Delivery and Pricing At Nigerian Ports” said there was need for the government to address the post-concession challenges inorder to reduce port costs.
According to him, issues such as host community problems especially in the Eastern, Ports and prevalence of shanty villages within the ports environment, inadequate pilotage, tug boats, pilot cutters, delayed berthing and sailing of vessels should also be looked into.
He further said arrest of vessels at berth by the Nigerian Customs or NIMASA and attendant consequences enchroached on the terminal operators berth space and through put, adding that port access vehicular traffic control is also chaotic.
“It has reduced the turnaround time of trucks resulting in high cost of haulage and congestion of the terminals.
Dependency on only one mode of transport for movement of cargo from port terminal is a big challenge,” he further said.
The General Manager noted that non-release of the entire leased area to Terminal operators was also a challenge, pointing out that 10 per cent of the leased space to BUA Ports has not been released to them by the Nigerian Ports Authority (NPA).
Lile also listed that governments’ fiscal policies such as ban on the importation of cement, high duty on motor vehicle, rice, wheat and restriction on the importation of fish was also a reason for the very low traffic in all the ports, including the Eastern ports.
He hinted that inadequate public power generating system, lack of public power supply had been additional cost to the Terminal Operators, while still paying NPA electricity bills, and called on them to consider putting independent power plant production in place.
The BUA Ports and Terminals boss also noted that lack of political will to implement port development policies was also a challenge, stressing that Ibaka and Badagry ports have been on the drawing board for a long time now as well as intermittent ASYCMDA Connectivity failure has been another challenge to terminal operators cargo release and high port costs.
He, however, called on all stakeholders to support government to achieve its target of 48-hours cargo clearance and lower cost of operation, adding that, “it is a herculean task but with unity of purpose, there is no limit to what we can achieve.”
Business
SMEs Dev: Firms Launch N100m Loan Scheme
The facility will be disbursed through participating Microfinance Institutions (MFIs), which will in turn extend the loans to their customers, particularly SMEs, as they directly interface with businesses at the grassroots level.
The Executive Director of COMCIN, Mr. Micheal Ogbaa who represented the Chairman, Dr. Iredele Oyedele (FCA, FCCA), said the initiative is designed to strengthen micro-lending institutions and expand access to finance for grassroots entrepreneurs, particularly women and youths in the informal sector.
Ogbaa explained that COMCIN does not lend directly to individuals but works through its network of microfinance and cooperative institutions, which in turn provide loans to end users.
“We came together to advocate for the microfinance ecosystem. Commercial banks often exclude people at the grassroots, but our members are positioned to reach them. This facility will empower them to do more,” he said.
He noted that the loan scheme offers low interest rates and flexible repayment plans, making it more accessible to small business owners.
According to him, about 90 percent of beneficiaries are expected to be women, who play a key role in sustaining families and driving economic activities at the local level.
“Our focus is on traders, service providers, and players in the informal sector. These are the real movers of the economy. By supporting them, we are strengthening families and contributing to national development,” he added.
Ogbaa disclosed that eligible SMEs with proven integrity and business track records could access up to N5 million each through participating micro-lending institutions. The rollout has commenced in Lagos and will extend to Abuja, Enugu, and other regions, including the South-West, South-East, and North-East.
He said 12 micro-lending institutions have already benefited from the scheme, while 85 applications are currently being processed under the pilot phase.
“Our target is to reach at least 100,000 SMEs nationwide. We are building a platform that connects funding partners with credible micro-lending institutions, creating a reliable channel for financial inclusion,” Ogbaa said.
He added that COMCIN is also working to attract larger funding pools from development finance institutions and private investors, noting that successful implementation of the pilot phase would boost confidence and unlock more capital for SMEs.
“We have seen encouraging testimonies from early beneficiaries. As we demonstrate transparency and efficiency, more institutions will be willing to channel funds through us,” he said.
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