Maritime
LG Chairman Supports VAT Increase
The chairman of Eleme Local Government Area, Hon. Philip Okparaji, has endorsed the recent increase in the Value Added Tax (VAT) by the Federal Government.
Okparaji said the VAT increase would generate more revenue for government, thereby helping in the payment of the new minimum wage.
The council chairman told The Tide in a telephone interview that the additional revenue would also help government in carry out meaningful projects that would be beneficial to the masses.
According to him, government must have consulted widely across sectors before taking the decision and signing same into law.
He advised all companies in the country to look at the long term effects of the increase and embrace the policy.
“I support it and l know that the additional revenue would be utilised for the masses, especially in carrying out meaningful projects”, he said.
In a related development, the Manager of Igwe & Co Consultants (a financial audit firm), Mr Silas Igwe, said the VAT increase would help the Small and Medium Enterprises (SMEs).
Igwe, who is a financial expert said the “increase is a good omen for Nigerian government”.
He, however, noted that the only way the increase can benefit the masses “is when government manages the added revenue well”.
He called on the government to ensure proper management and usage of the added revenue for the benefit of Nigerians.
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Chairman of the National Chamber of Commerce Industry Mines and Agriculture Export group, Mr.Kolawole Awe has identified inefficiency and corruption as the two major factors responsible for poor implementation of government’s policies in the country.
Awe made this observation in a speech delivered at the 2nd annual Ports and Transborder international Discuss held at Sycamore Hotel ,Badagry-Lagos on Friday.
The NACCIMA Export group boss expressed regrets over what he described as the poor treatment of Nigerians by those working in various government security agencies , whose services he said sometimes fell short of expectations and added that the twin forces of inefficiency and corruption had further worsened the woe bedeviling the country with attendant negative impact on its social economy development.
On ways to address the problem,Awe urged every stakeholders to imbibe a new attitudinal change in the work places , which should be in consonance with the Regional Trade principle .
Earlier,in his welcome address,the President,Badagry Chamber of Commerce Industry Mines and Agriculture (NACCIMA),Alhaji Yahaya Oladiran Idris said the importance of the seminar with the theme:”Bridging Borders, Building National prosperity and strengthening Regional Trade” was part of the objectives of Baccima as the voice of business society along the Lagos -ABIDJAN trade corridor.
“Seme the most important border post in west Africa is to protect the interest of of it members and business community,see to the growth and development of economic activities in the region”,he said.
“It gladdens me to inform you today that one of our advocacy for easy movements of our citizens,traders and travellers across Seme border post on the issuance of Biometric identification was unveiled by the federal government through the Nigeria Immigration Services on Thursday in Abuja”
According to him, “the ports and Transborder international trade discuss was meant to give stakeholders the platform to examine and share challenges collectively and to build bridges of understanding , cooperation and innovation.
In his contribution, co-organizer of the program,Mr. James Shodiya disclose that the the gathering was designed to shape the future of trade across the borders and strengthening the framework and support regional and global commerce.
He further explained that ‘in today’s interconnected world the efficiency the borders defined the strength of the economies from customs operations to port management , from transport logistics to digital trade systems, adding that the movement of goods across the boundaries effects every sector of national development.
Comptroller Frank Onyeka, Customs Area Controller of Tin Can Island Port Customs Command and Sponsor of the Maritime Journalists Training Workshop 2025, receiving award of appreciation from Innocent Orok, CEO, Roam Media Group and Coordinator of 2025 Maritime Journalists Training Workshop held at the Tin Can Island Customs Conference Room on 17th November 2025.
By: Nkpemenyie Mcdominic, Lagos
Ahead of the March 2026 takeoff of the National Single Window (NSW) project, maritime industry stakeholders have called for a robust legal framework to ensure the seamless rollout of the unified digital project.
The stakeholders who made the call at the 10th Annual Seminar for Maritime Journalists and launch of the Centre for Maritime Media and Capacity Development in Lagos on Wednesday warned that without a unifying law, the NSW project risked being stifled by the conflicting mandates of various government agencies and the high cost of previous digital failures.
Speaking at the event organised by First Mediacon Network Limited, CEO of Wealthy Honey Investment and former Vice President of ANLCA, Dr. Kayode Farinto emphasized that the NSW must submerge the individual acts of various government agencies into a unified legal structure to prevent jurisdictional clashes.
He said, “SON has its act. NAFDAC has its act. Quarantine and Customs have theirs. For us to house these government agencies, there must be a legal framework so that it will be sacrosanct and everybody will know that this is the armbit of law with which we must operate.
“In the legal framework, there must be punishment for CEOs who deliberately circumvent, delay cargo and make officers to exploit traders or freight forwarders unnecessarily.
” Farinto also highlighted additional burdens imposed by regulatory agencies, citing examination fees charged by the Standards Organisation of Nigeria (SON) despite offshore certification. He noted that the NSW must address such problems including teething challenges of previous digital transitions such as the B’Odogwu platform failure, which he said cost importers over N7 billion due to connectivity issues.
“Importers are charged between N3,000 and N7,000 per container for examinations, even when conformity certificates have already been issued. This discourages trade and encourages circumvention.
“The NSW must not come with the same teething problems we suffered with B’Odogwu, which cost importers over N7 billion and nobody is saying anything. There must be attitudinal change among government agencies and licensed customs agents,” he said.
Also speaking, Vice President of ANLCA, Prince Segun Oduntan represented by Suleiman Ayokunle, Chief Executive Officer of SULA Logistics Limited noted that operators still contend with several government regulatory agency platforms, alongside multiple internal windows covering enforcement, scanning, gate operations, and cargo clearing processes.
He cautioned that unless the NSW effectively harmonises agency roles and processes, such financial losses could persist, undermining the very efficiencies the reform seeks to achieve.
In his remarks, maritime lawyer Dr. Emeka Akabogu SAN pointed out that Nigeria continued to perform poorly on the Global Logistics Index due to excessive manual intervention.
He praised the Nigeria Customs Service Act of 2023 for domesticating WTO trade facilitation agreements but stressed that the NSW was the only way to achieve a single digital approval. In his remarks, the Executive Secretary and CEO of the Nigerian Shippers Council (NSC), represented by Director of Special Duties Moses Abere, stated that as the sector digitalizes, journalism must evolve to ensure transparency and accountability.
“As the maritime sector grows more complex, driven by digitalisation, new trade realities, regulatory reforms, and global logistical shifts, journalism must evolve accordingly,” Akutah said.
He reiterated the Council’s commitment, as the Port Economic Regulator, to promoting efficiency, transparency, and competitiveness in the sector. He added that the theme of the seminar—“A Decade of Collaboration for Impact: Strengthening Maritime Journalism for the Future”—reflects the critical role of partnerships in building a stronger maritime industry.
“Over the years, maritime journalists have worked closely with regulators, operators, policymakers, and stakeholders to illuminate challenges and opportunities in the sector,” he said.
“The media remains an essential partner in informing stakeholders, shaping public understanding, and strengthening accountability.
” In his welcome address, CEO of First Mediacon Network Limited, Sesan Onileimo highlighted the urgent need for maritime journalists to upscale their knowledge, particularly in an era dominated by artificial intelligence, digitalisation, and social media.
“All of these developments have combined to put journalists under intense pressure to report factual information promptly while remaining relevant.
“The Centre has been established to bridge this gap, ensuring maritime journalists, regardless of experience, remain equipped to deliver accurate, impactful reporting, ” he said.
By: Nkpemenyie Mcdominic, Lagos
Maritime
Customs To Impose 3% Penalty On Commercial Banks Over Delay In Remittances Of Collected Revenue
The Nigerian Customs Service has warned that commercial banks which fail to remit Customs revenue within contracted timeline will now pay a penalty of 3% above the prevailing Nigerian Interbank Offered Rate (NIBOR) for the duration of the delay.
The Customs in a statement on Wednesday said some banks designated to collect import and export duties on the B’Odogwu platform had turned on their delay tactics for too long, warning that such banks would pay heavily for the delay in remitting public funds collected through it.
The statement signed by the agency’s national spokesman, Dr Abdullahi Maiwada read in part: “The Nigeria Customs Service (NCS) has noted instances of delayed remittance of Customs revenue by some Designated Banks following reconciliation of collections processed through the B’odogwu platform. Such delays constitute a breach of remittance obligations and negatively impact the efficiency, transparency, and integrity of government revenue administration.
“In line with the provisions of the Service Level Agreement (SLA) executed between the Nigeria Customs Service and Designated Banks, the Service hereby notifies stakeholders of the commencement of enforcement actions against banks found to be in default of agreed remittance timelines.
“Accordingly, any Designated Bank that fails to remit collected Customs revenue within the prescribed period shall be liable to penalty interest calculated at three percent (3%) above the prevailing.
By: Nkpemenyie Mcdominic, Lagos
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