Business

Stakeholders Want FG To Establish Maritime Bank

Published

8 years ago

February 28, 2018

In its quest to ensure the growth and development of the maritime sector in line with the Presidential order on the Ease of Doing Business in Nigeria, the Federal Government is set to automate all shipping related administrative processes in order to reduce subjectivity and corruption, thereby promoting transparency in the Nigerian maritime industry.
This is one of the major consensus reached in the communiqué issued at a one-day maritime stakeholders’ interactive forum held in Warri, Delta State with the theme; “Implementation of Executive Order One (1) – Ease of Doing Business in a Secure Maritime Environment”.
According to the 18- point communiqué, stakeholders agreed that in order to realise the desired accelerated growth of the Nigerian maritime sector, the Ministry of Transportation and its agencies should explore alternate financing windows such as the establishment of Maritime Bank to address the financing gap created by the unsuitability of lending rates of Nigerian banks for the shipping business; consider reviving NIMAREX as a platform for bridging the gap between the Nigerian shipping industry and prospective international investors so as to provide impetus for growth and investment.
Furthermore, it was established in the communiqué that the ministry and its agencies should take urgent steps to address the challenge of under-declaration of cargo by ships calling at Nigerian ports to plug the substantial revenue leakage thus created; that the Ministry and its agencies should cause the urgent dredging of the Escravos Bar to facilitate the access of large dry cargo vessels into Warri ports.
On the issue of safety and security of the maritime space, stakeholders were also of the view that the ministry and its agencies should collaborate with the maritime communities with a view to relying on their local knowledge and intelligence for fighting maritime crimes like piracy, and vessel hijack.
Also, the need for manpower development and capacity building was discussed as the communiqué urged that the ministry and its agencies should consider a return to the former system whereby the Nigerian Ports Authority (NPA), National Inland Waterways Agency (NIWA) and the Nigerian Maritime Administration and Safety Agency (NIMASA) all contributed to the training of master mariners who are currently counted at 180 with more than 75% above the retirement age.
The issue of the Apapa gridlock and access road challenges was not left out as stakeholders charged the Ministry and its Agencies to consider establishing transit parks for trucks waiting to access the ports and implement an automated call-up system that prevents their proliferation around the ports.
Other areas highlighted are; that the Ministry and its Agencies should consider establishing Complaints Desks and online feedback platforms to promote the ease of doing business in Nigerian maritime industry; amongst other pressing issues, all geared toward the realization of a robust and business friendly maritime sector that can compete favourably with its counterparts in other climes.
Corroborating the stakeholders yearnings as stated in the communiqué, the Director General of NIMASA
Dr. Dakuku Peterside stated that the Federal Government through the Ministry of Transportation and other Agencies under the Ministry will continue to work hard to ensure less human contacts with processes in the maritime sector, which is intended to give way to transparency and discourage sharp practices in the sector and assured the forum that all the points raised will be given urgent and due attention.
“The Federal Ministry of Transportation shapes the policy that drives the industry and we are servants in the industry; hence we will join hands with all Stakeholders to build this industry in order to be able to continue to provide economic opportunities for our people. I therefore charge you all to shape opinions that will help Nigerians know that some people are working hard to take the maritime sector to the next level,” Peterside said.
On their parts, the Executive Secretary of the Nigerian Shippers’ Council (NSC), Barrister Hassan Bello and the Managing Director of the Nigerian Ports Authority (NPA), Ms. Hadiza Bala Usman, also lent their voices and unanimously agreed that automation of all processes and collaboration with all stakeholders are keys to realizing a robust maritime sector, which also demands the support of all industry players.
Buhari said at the presentation that the budget would drive rapid economic recovery.
The president said that, with a benchmark of 45 dollars per barrel of crude oil at an exchange rate of N305 to a dollar in 2018, the budget would consolidate on the achievements of previous budgets to aggressively steer the economy to the path of steady growth.

Nkpemenyie McDominic, Lagos

Business

Pipeline Explosion In Abua Odua, LGA Chair Calls For Calm

Published

3 days ago

July 3, 2026

The Tide

Fresh explosions have hit oil and gas pipelines in Odau Community, in Abua/Odual Local Government Area of Rivers State, triggering a major security and environmental crisis that has forced residents to abandon their homes.

The first incident occurred along the Kolo Creek – Rumuekpe crude oil pipelines, operated by Renaissance Africa Energy Company Limited.

This was followed by a gas pipeline explosion on the Ogboinbiri – Obirikom Gas Pipeline, operated by Oando Plc, in the same week.

In a statement by the Abua/Odual Council Chairman, Hon. Owolobi Michael Ofori said the blasts, suspected to be the handiwork of militants, have unleashed persistent gas leakage in the area, raising fears of fire outbreaks and toxic exposure as residents of Odau have largely deserted the community due to the dangerous situation.

According to him, some residents of the area have been hospitalised after inhaling the leaking gas, adding that the impact has spread to neighbouring communities, including Obedum, Emirikpoko, and Anyu in Abua/Odual LGA, as well as Oruma and Ibelebiri in Bayelsa State.

Hon. Ofori expressed deep concern over the plight of the affected residents and urged the operating companies to act swiftly.

The Council expressed its deepest sympathy to all affected persons and communities and remained gravely concerned about the safety, health, and welfare of residents whose lives and livelihoods have been disrupted by these incidents.

“We call on Renaissance Africa Energy Company Limited and Oando Plc to immediately deploy all necessary technical and emergency response resources to contain the fires, halt the gas leakage, secure the affected pipeline corridors, and mitigate further environmental and public health risks.” the Council Chairman Said.

The chairman also appealed to the two oil firms to provide immediate humanitarian assistance and relief materials to the displaced residents while work continues to restore normalcy.

The Council Chairman said he is working closely with security agencies and emergency responders to monitor the situation and coordinate necessary interventions.

The Council Boss advised Residents of the Local Government Area to remain calm, cooperate with authorities, and adhere strictly to safety directives.

Ofori further called on the National Emergency Management Agency (NEMA), the National Oil Spill Detection and Response Agency (NOSDRA), the Rivers State Government, and other relevant bodies to intervene urgently to prevent loss of lives and environmental damage.

Hon. Ofori assured that the council remains committed to the protection and welfare of its people and will continue to engage all stakeholders to resolve the crisis.

Enoch Epelle

Business

Fidelity Bank Collaborates YEIDEP To Empower Nigerian Students

Published

3 days ago

July 3, 2026

The Tide

Fidelity Bank Plc has reaffirmed its commitment to youth empowerment, financial inclusion and entrepreneurship through a strategic partnership with the Youth Economic Intervention and De-radicalization Programme (YEIDEP), a Federal Government-backed initiative aimed at equipping young Nigerians with the skills, support and opportunities needed to build sustainable livelihoods.

Under the partnership, the bank will support the enrolment of students and young people into the YEIDEP programme, which is designed to tackle youth unemployment, promote enterprise development and expand economic participation among Nigeria’s growing youth population.

The next phase of the initiative is scheduled to end today at Nnamdi Azikiwe University, Awka, where the enrolment exercise for students and youths across the South-East that started since July 1st would be concluded at the university’s Convocation Arena.

The exercise is expected to reach more than 60,000 regular undergraduate students.

Speaking on the partnership, Fidelity Bank’s Divisional Head, Product Development, Osita Ede, said youth empowerment remains central to the bank’s vision of building a more inclusive and prosperous society.

He noted that Nigeria’s youths represent the country’s greatest asset and stressed that providing them with the right skills, opportunities and financial support is critical to unlocking their potential and driving national development.

According to Ede, the bank continues to provide young Nigerians with tools for success through its digital banking platforms, financial literacy initiatives, youth-focused products and strategic partnerships.

He added that Fidelity Bank recognises that limited access to funding, mentorship and business development support remains a major challenge for many aspiring entrepreneurs, and is committed to creating pathways that will help them overcome these barriers.

The bank said its support for YEIDEP aligns with its longstanding commitment to empowering Micro, Small and Medium Enterprises (MSMEs), which it described as key drivers of economic growth and job creation in Nigeria.

Interested students and youths have been encouraged to open Fidelity Bank accounts and register for the programme through the bank’s dedicated online portal.

Nkpemenyie Mcdominic, Lagos

Business

NPA Launches Multi-Agency Taskforce To Combat Apapa Traffic Gridlock

Published

3 days ago

July 3, 2026

The Tide

The Nigerian Ports Authority (NPA) has launched a multi-agency task force to combat the resurgence of traffic gridlock choking the Lagos Port access roads, in a fresh push to restore seamless cargo evacuation and sustain recent gains in Port efficiency.

The intervention followed a stakeholders’ meeting convened by the Managing Director of NPA, Dr. Abubakar Dantsoho, on June 23rd, 2026, where security agencies, freight forwarders, truck operators and representatives of the Lagos State Government agreed on coordinated measures to eliminate the bottlenecks disrupting cargo movement.

At the meeting, stakeholders identified illegal extortion points, overlapping responsibilities among security agencies and other operational distortions as major factors responsible for the renewed congestion along the port corridor.

Speaking on the outcome of the meeting, the NPA’s General Manager, Corporate and Strategic Communications, Mr. Ikechukwu Onyemakara, said the Authority’s overriding priority is to guarantee the unhindered movement of cargo to and from the nation’s seaports.

According to him, the task force comprises the NPA, the Police, the National Association of Government Approved Freight Forwarders (NAGAFF), the Association of Nigerian Licensed Customs Agents (ANLCA), the Federal Road Safety Corps (FRSC), the Maritime Workers Union of Nigeria (MWUN), the Nigerian Association of Road Transport Owners (NARTO) and the Association of Maritime Truck Owners (AMATO).

“The responsibility of the task force is to monitor truck movement on the Port access roads on a regular basis, identify any disruption capable of causing gridlock and immediately resolve such challenges,” Onyemakara said.

He stressed that members of the task force would not establish checkpoints along the corridor but would maintain strategic presence at designated locations to ensure compliance without obstructing traffic.

To enhance rapid response, Onyemakara disclosed that the task force has created a dedicated WhatsApp platform through which members can instantly report infractions or emerging traffic issues for immediate intervention.

On the long-delayed renewal of the Electronic Truck Call-Up (ETO) system contract, the NPA spokesman said the Authority is reviewing the terms to ensure a more robust contractual framework before awarding a fresh agreement.

He explained that although the previous contract had expired, the ETO platform remains operational under the management of the Truck Transit Parks (TTP) pending completion of the procurement process.

He expressed confidence that the renewal would be concluded soon.

Reaffirming the Authority’s commitment to maintaining free-flowing Port access roads, Onyemakara said efficient logistics remain central to the NPA’s drive to improve Nigeria’s Port competitiveness and preserve its growing international reputation.

“We are more interested in the free flow of logistics into our ports than anyone else because it is in our own interest,” he said

Nkpemenyie Mcdominic, Lagos