Business
NPA Admits Pollution Of Environment
The Port Manager of the Nigerian Ports Authority (NPA), Rivers Port complex, Mr Dele Aliabi has agreed that the environment of Port Harcourt Port, especially the Wharf area is polluted.
Mr Alabi in his speech at a dinner organised by one of the port’s concessionaires, the Port and Terminal Operators Limited (PTOL) in Port Harcourt, as part of efforts to woo importers to the port admitted that there is pollution at the port, but that it is tolerable.
In his words “There is pollution at the port, and such pollution is tolerable and we are trying to do something to minimise it’s degeneration”.
The port manager also said that the cement vessels they have at the port at the moment have expiring dates and that as soon as the dates expires, that the port will be clean from pollution.
He also explained that experts from the federal ministry of environment has been contacted, and that they have assessed the environment pointing out that in a short while, things will return to normal at the wharf.
On the state of the Industry road which links the port to the outside world, Mr Alabi stated that it has not been easy for them even as landlord in the new dispensation of ports concessioning.
He said “we are worried as NPA about the bad industry road. We have contracted the Rivers State government, and we have he assurance from the state government that things will be put in order very shortly.”
The port manager, however, expressed happiness with the steps taken by the PTOL towards restoring competitive business to Port Harcourt port, stressing that the vision is to make the Port Harcourt port and the terminals one of the best in the African sub-region.
Corlins Walter
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.
