Business
NPA Set To Boost Port Infrastructure
The Managing Director, Nigerian Ports Authority (NPA), Ms Hadiza Usman, has promised to boost the nation’s economy through the provision of infrastructure and technologically up-to-date equipment at the ports.
In a statement made available to newsmen in Lagos, she said that the Federal Government through the NPA, would reposition the ports industry to play its key role as the gateway to the nation’s economy.
Usman, who was represented by the General Manager, Public Affairs, Chief Michael Ajayi, spoke at the Executive Business Networking Seminar organised by NIMPORT in Lagos.
She said the government was making efforts to reposition the ports in line with global trends.
Usman directed all terminal operators to invest more in up-to-date equipment that would make the nation’s sea ports competitive and efficient.
She said that growth in trade volumes was a strong factor for port investment to boost efficiency, build robust, responsive and competitive port economy in line with global best practices.
“Development and upgrading existing port infrastructure as well as improvement in performance have become imperative,” she said.
Usman said the vision of NPA “is to be the leading port in Africa’’.
She said NPA would review in line with global best practices, the agreement the terminal operators entered into with the Federal Government before the ports were concessioned in 2006.
She said that in countries like North America, Europe and Asia Pacific, growing container markets had led to upgrade of the existing port infrastructure with container handling automation already put in place to handle large carriers with up to 18,000 TEUs (containers).
She said this became imperative because manually-operated Rubber Tyre Gantry (RTG) cranes were no longer suitable to handle huge volume of containers from one vessel.
Usman said NPA must lead in modernisation of equipment and infrastructure to respond to global trends in shipping business.
She thanked the organisers of the seminar for their steadfastness and consistency.
The managing director said this had gone a long way in fostering mutually beneficial business relationship between the government and the private operators in the maritime sector.
In another development, the NPA and the Port of Miami are collaborating to boost export and trade facilitation programme of the Federal Government.
The U.S. International Trade Coordinator, Department of Regulatory and Economy Resources (RER), Mr Desmond Alufohai and the Director, Government and International Relations (GIR) for Port of Miami, Ms Debra Owen met the NPA managing director.
The duo were in NPA to explore opportunities in the mineral resources and agricultural produce of the country.
Speaking during an interactive session with the NPA’s Managing Director, Ms Hadiza Usman, the visitors expressed their readiness to assist in the development and modernisation of infrastructure at the nation’s seaports.
The delegation also expressed their determination to partner the NPA in the area of compliance and efficient port system.
They promised to assist the country to boost the economy by harnessing the immense opportunities in the exportation of farm produce and mineral resources to America.
Usman appreciated their gesture and said the Federal Government was desirous of also partnering the port of Miami in the area of tourism.
The managing director also sought technological transfer in the area of standardisation of farm produce, its preservation and packaging to meet international standard.
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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