Business
Expert Urges Human Dev For Effective Cabotage Regime
The Chairman of the Na
tional Seafarers Welfare Board, Chief Kunle Folarin, has said building human capacity was necessary for Coastal and Inland Shipping Act (Cabotage regime) to work effectively.
Folarin said this in an interview with The Tide source in Lagos.
“We have seafarers but it depends on the type of seafarers they need.
“Even within the junior cadre, you have the need for electricians; the need for greasers; for box wheel and other category; even for catering staff and able seafarer.
“The capacity must be in all these cadre of junior seafarers.
“ When you look at officers, you must look at marine engineers; you must look at master mariners, captains, chief mates.
“You must look at the radio man; you are looking at those who have the competence to be officers.
“Those are the issues we have to look at. How do we develop capacity in all these areas so that the demand to man for that particular provision in the Cabotage law can be satisfied.
‘ And besides that, you look at the trade itself, how much internal trade are we generating?
“Do we have transshipment facility in Nigeria to transship cargo from Lagos to Port Harcourt.
“From Warri to Port-Harcourt; Port Harcourt to Lagos itself.
“We must ensure that the capacity and the availability of transshipment cargo is there so as to generate a kind of traffic that can be sustained.”
He said that the nation lacked enough junior and senior cadres of seafarers to meet the demands of the Cabotage trade.
Folarin, who is the Chairman, Port Consultative Council (PCC), said practitioners should also consider the rate of internal trade (transshipment cargo) being generated.
He said that the country also lacked required technical know-how to build all ships meant for Cabotage trade.
He, however, acknowledged that there were efforts to raise more seafarers in the junior category.
“You go to joints, you go to the cinema, you go to different places, everybody, it’s just complain.
“Let everybody get involved, Nigeria is our own country.
“Everybody has the right to choose which political party or which candidate to support; it’s every Nigerian’s right.
“And that’s one of the dangerous things about Nigeria, if you support the person that this other one does not support, automatically they will curse you, but it’s not supposed to be so.
“Let your candidate defend himself, let my candidate defend himself. Whoever talks better or performs better than the other, it’s still one Nigeria.
“If two people are contesting and one wins, either way they are contesting to help Nigeria .
“ So the loser should be able to now come and work together with the winner and criticise constructively.
“Not the kind of criticisms that amount to outright condemnation, even if the person does good.’’
Cue out audio.
2Face told NAN that he would actively participate in the elections and encouraged other Nigerians, especially the youth not to be violent during the exercise.
He said that he would continue to be non-partisan in his engagements with Nigerians.
Business
Agency Gives Insight Into Its Inspection, Monitoring Operations
Business
BVN Enrolments Rise 6% To 67.8m In 2025 — NIBSS
The Nigeria Inter-Bank Settlement System (NIBSS) has said that Bank Verification Number (BVN) enrolments rose by 6.8 per cent year-on-year to 67.8 million as at December 2025, up from 63.5 million recorded in the corresponding period of 2024.
In a statement published on its website, NIBSS attributed the growth to stronger policy enforcement by the Central Bank of Nigeria (CBN) and the expansion of diaspora enrolment initiatives.
NIBSS noted that the expansion reinforces the BVN system’s central role in Nigeria’s financial inclusion drive and digital identity framework.
Another major driver, the statement said, was the rollout of the Non-Resident Bank Verification Number (NRBVN) initiative, which allows Nigerians in the diaspora to obtain a BVN remotely without physical presence in the country.
A five-year analysis by NIBSS showed consistent growth in BVN enrolments, rising from 51.9 million in 2021 to 56.0 million in 2022, 60.1 million in 2023, 63.5 million in 2024 and 67.8 million by December 2025. The steady increase reflects stronger compliance with biometric identity requirements and improved coverage of the national banking identity system.
However, NIBSS noted that BVN enrolments still lag the total number of active bank accounts, which exceeded 320 million as of March 2025.
The gap, it explained, is largely due to multiple bank accounts linked to single BVNs, as well as customers yet to complete enrolment, despite the progress recorded.
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