Business
PTOL Sues For Patronage Of PH Port
The Port and Terminal Operators Limited (PTOL), a Concessionaire in Port Harcourt Wharf has called on both Federal Government and stakeholders in the Maritime Industry to patronize the port, as it is done in other ports.
Speaking in a chat with journalists in Port Harcourt, the Public Relations Officer (PRO) of the company, Mr. Joe Ogudu said that the Port Harcourt port needs to be equally patronized, just as the Lagos ports, pointing out that, the disparity in patronage does not encourage competitive business.
According to him, “We pay the same amount with Lagos ports by virtue of the Bureau for Public Enterprises (BPE) agreement, yet our charges here in Port Harcourt is low”.
The PRO also explained that his company charge as low as N8 on cargo for the first five days after berthing where as the charges are higher in Lagos Ports, yet, they pay the same amount to BPE on the concession agreement.
He said they are doing everything possible to return Port Harcourt Port to general cargo/container cargo operation, which has began to yield result with the berthing of the first container vessel at the port recently.
The image maker of PTOL also stated that his company has invested so much money on infrastructure that will promote business at the wharf beyond their expectation as concessionaire, unlike any other operator, pointing out that, the only encouragement they need to do more is on the area of patronage.
He urged Federal Government and relevant authorities charged with the responsibilities of organizing the maritime business without delay to introduce policies that will encourage port users to patronize Port Harcourt port in their business adding that, this will create a balance in operations across the country.
Credit to Nigeria’s private sector rose to N83.26 trillion in June 2026 from N81.04 trillion in May, signifying a positive balance of N2.22 trillion month-on-month.
Year-on-year, the figure represents a nine per cent increase compared with the N76.13 trillion recorded in June 2025. The latest figures come as the CBN continues to balance efforts to control inflation with the need to support economic growth and expand credit to businesses.
The CBN data shows that credit to Nigeria’s private sector increased by approximately 2.74 per cent month-on-month between May and June 2026. Also, the CBN data noted that credit to the government fell slightly to N40.03 trillion from N40.38 trillion. Other assets, net, dropped to N10.76 trillion from N12.63 trillion.
The credit surge signifies sustained growth in lending to businesses and other private-sector borrowers during the month. The rise in private sector credit was recorded alongside an increase in net domestic credit, despite declines in credit to government and other assets.
Further analysis of the report says that compared with June 2025, private sector credit rose by about N7.13 trillion yea-on-year but net domestic credit increased by approximately N1.87 trillion during the month.
The CBN’s relatively tight monetary policy stance notwithstanding, more banks still loaded funds to the private sector within the period. The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) held its 306th meeting on July 20 and 21.
The Committee reviewed recent developments in the global and domestic economies, assessed emerging risks to the outlook and considered their implications for monetary policy and retained all rates.
The Committee decided to retain the Monetary Policy Rate at 26.5 per cent; the Standing Facilities Corridor around the MPR at +50/-450 basis points and retain the Cash Reserve Requirement (CRR) for Deposit Money Banks at 45.00 per cent, Merchant Banks at 16.00 per cent, and non-TSA public sector deposits at 75.00 per cent.
The MPC decision means that credit extension in the private sector will likely continue to rise because of rising confidence in the sector and calls by stakeholders for banks to invest in the private scetor instead of government securities.
