Business
ANLCA Sues For Uniformity In Freight Charges
The Chairman, Board of Trustees of the Association of Nigerian Licensed Customs Agents (ANLCA), Chief Henry Njoku has called on the federal government to evolve a method of charges that will be uniform across board in all the ports in Nigeria, in order to create atmosphere for healthy competition in the nation’s ports.
Chief Njoku, who made the call while speaking to maritime journalists in Port Harcourt, said one of the major problems that the Eastern ports face is the discriminatory pricing and subsidised labour cost.
He said “It is my honest view that for the Eastern port to perform more effectively, serious consideration should be given to uniform freight charges” just as the issue of privatisation.
The ANLCA chairman cautioned against port privatisation insisting that if any, it should be done in such a way that it would not create a cabal that will hold the sector to ransom.
He said in event of total privatization, a joint venture agreement could be worked out with the private sector with full operational responsibility, while government is left with the responsibilities of providing conducive operational environment, such as basic infrastructure, guarantee for loan, tax relief initial take-off grant and security.
According to him, the private sector should provide the much needed technical support, equity participation and managerial expertise.
It was also the view of Chief Njoku that cement plant in Port Harcourt Port should be relocated to the end of the wharf. The move, he said, will allow free flow of vessel carrying other goods like fish, rice and containers easy access.
He told government to rise to the challenge of maritime security in other to restore the confidence of key players, adding that the Koko and Sapele ports can be made more functional as fishing and oil product ports respectively.
The ANLCA chairman, however, recommended a total onslaught against corruption in all facets of the economy, saying that corruption is the bane of national development. He said all hands should be on deck so as to meet the 48-hours cargo clearing.
He also solicited for a harmonious working relationship between the various units in the industry, adding that unholy rivalry and gross insubordination can not promote the growth of the sector.
Chief Njoku was hopeful that the Eastern ports activities would pick-up like other ports across the nation and condemned the low business activities in the Eastern ports.
He encouraged ports operators to empower youths of host communities, as well as develop such communities.
Edun made the call while speaking at the 2025 Fellowship Investiture of the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos, where he reaffirmed the federal government’s commitment to sustaining ongoing reforms and expanding access to finance as key drivers of economic growth beyond four per cent.
“We all know that monetary policy under Cardoso has stabilised the financial system in a most commendable way. Of course, it is a team effort, and those eye-watering interest rates have to be paid by the fiscal side. But the fight against inflation is one we all have to participate in,” he said.
The minister stressed the need for banks to broaden credit access and finance innovation-driven enterprises that can create jobs for young Nigerians.
“The finance and banking industry has more work to do because we must finance their ideas, deepen the capital and credit markets down to SMEs. They should not have to go to Silicon Valley,” he said.
The minister who described the private sector as the engine of growth, said the government’s reform agenda aims to create an enabling environment where businesses can thrive, access funding, and contribute meaningfully to job creation.
The facility, known as the Nigeria Actions for Investment and Jobs Acceleration (P512892), is a Development Policy Financing (DPF) operation scheduled for World Bank Board consideration on December 16, 2025.
According to the Bank’s concept note , the financing would comprise $500m in International Development Association (IDA) credit and $500m in International Bank for Reconstruction and Development (IBRD) loan.
If approved, it would be the second-largest single loan Nigeria has received from the World Bank under President Bola Tinubu’s administration, following the $1.5 billion facility granted in June 2024 under the Reforms for Economic Stabilisation to Enable Transformation (RESET) initiative.
The World Bank said the new programme aims to support Nigeria’s shift from short-term macroeconomic stabilisation to sustainable, private sector–led growth.
“The proposed Development Policy Financing (DPF) supports Nigeria’s pivot from stabilization to inclusive growth and job creation. Structured as a two-tranche standalone operation of US$1.0 billion (US$500 million IDA credit and US$500 million IBRD loan), it seeks to catalyse private sector–led investment by expanding access to credit, deepening capital markets and digital services, easing inflationary pressures, and promoting export diversification,” the document read.
The document further stated that Nigeria’s private sector credit-to-GDP ratio stood at only 21.3 per cent in 2024, significantly below that of emerging-market peers, while capital markets remain shallow, with sovereign securities dominating the bond market.
To address these weaknesses, the DPF will support the implementation of the Investment and Securities Act 2025, operationalisation of credit-enhancement facilities, and introduction of a comprehensive Central Bank of Nigeria rulebook to strengthen risk-based regulation and consumer protection.
The operation also includes measures to deepen digital inclusion through the passage of the National Digital Economy and E-Governance Bill 2025, which will establish a legal framework for electronic transactions, authentication services, and digital records.
Beyond the financial and digital sectors, the programme targets reforms to lower production and living costs by tackling Nigeria’s restrictive trade regime. High tariffs and import bans have long driven up consumer prices and constrained competitiveness, particularly for manufacturers and farmers.
Under the proposed reforms, Nigeria would adopt AfCFTA tariff concessions, rationalise import restrictions, and simplify agricultural seed certification to increase the supply of high-quality varieties for maize, rice, and soybeans. The World Bank projects that these measures will help reduce food inflation, attract private investment, and enhance export potential.
The operation is part of a broader World Bank FY26 package that includes three complementary projects—Fostering Inclusive Finance for MSMEs (FINCLUDE), Building Resilient Digital Infrastructure for Growth (BRIDGE), and Nigeria Sustainable Agricultural Value-Chains for Growth (AGROW)—all focused on expanding access to finance, strengthening institutions, and mobilising private capital.