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FG Assures On Intensifying Diaspora Investment 

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6 months ago

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Nigeria’s President, Bola Tinubu, has assured that his administration would ramp up efforts to create the enabling environment that would attract more investments from Nigerians in Diaspora and harness their immense talents, skills, expertise, innovation and contacts for national development.
He gave this assurance in his remarks as the special guest of honour at the opening of the 2025 National Diaspora Day (NDD) organised by the Nigerians in the Diaspora Commission (NIDCOM) with the theme, “Optimizing Formidable Diaspora Potential For National Development and Growth”, at the Banquet Hall of the Presidential Villa in Abuja, on Friday.
Represented by the Secretary to the Government of the Federation (SGF), George Akume, the President acknowledged the enormous contributions of the NIDCOM in terms of remittances, which hit $20.9 billion by 2024 with the promise of more remittances in the years ahead.
“We will continue to provide an enabling platform for effective policies for the Diaspora with the view to galvanizing your support for this administration and concretizing our democracy, optimizing your potential and setting a good example for other African countries to emulate”, he said.
The President commended the Chairman/CEO of NiDCOM, Hon. Abike Dabiri-Erewa and the management and staff of NiDCOM for their dynamic initiatives, activities and engagements with the Diaspora community, especially in the creation of laudable programmes for Nigerians in Diaspora to invest back home.
“Let me also state that we will look into the Challenges NiDCOM has enumerated with a view to ameliorating the same so that we can maximize the benefits of migration through the engagements with our Diaspora for national development and growth”, the President said.
The highpoint of the occasion was the unveiling of the “Diaspora Home and Abroad Housing Platform”, which will help facilitate easy access to affordable homes.
In her remarks, Hon. Dabiri-Erewa noted that since the establishment of the commission over six years ago, it has vigorously pursued policies and programmes that have given the nation uplift and encouraged Nigerians in the Diaspora to make more investments in the country that are yielding results in different sectors of Nigerian lives.
These programmes include the National Diaspora Day Celebration held annually on 25th and 26th of July and 2025 is the 7th edition. It is an event to celebrate over 20 million Nigerians in the Diaspora and the varied contributions they have made in diverse fields.
NIDCOM initiated the National Diaspora Merit Award to honour those individuals and associations who have contributed to the development of Nigeria and their host country.
It also has the Badagry Door of Return Festival to commemorate the Nigerian descendants from slave trade era and the significance of the ancient Badagry during the period
Other initiatives include: The Diaspora Mortgage scheme, the Diaspora Investment Fund, and the Diaspora Housing Scheme.
The Chairman, Senate Committee on Diaspora and Non-Governmental Organizations (NGOs), Aniekan Bassey, in his remarks emphasized that Nigeria is a veritable home for investment, stressing that it has become necessary for job creation and skill development among the youth.
In her goodwill message, Isabelle Wolfsgruber from the Head Office, International Centre for Migration Policy Development (ICMPD), Abuja, said the event is not just a celebration, but a call to action and a recognition that the Nigerian diaspora, among the most dynamic, educated, and resourceful globally, holds boundless untapped potential to contribute meaningfully to national development.
She assured that the ICMPD will partner more with NIDCOM to ensure inclusive migration governance that fully integrates diaspora contributions to national development.
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Maritime

Weak Shipping Line Regulation Undermines Customs Reforms —-Says SEREC

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2 weeks ago

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January 28, 2026

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The Sea Empowerment and Research Centre (SEREC) says poor regulation of shipping lines could undermine the credibility of the Nigeria Customs Service (NCS) reforms.
Head of Research SEREC, Dr Eugene Nweke  made this Known to Newsmen in Abuja
Nweke said that customs efficiency was linked to the performance of the Nigeria’s maritime and trade ecosystem.
Hr described the NCS as central to the success of the National Single Window (NSW) risk-based clearance and trade facilitation reforms.
“However, Customs efficiency gains are systematically eroded when upstream shipping practices introduce artificial delays, speculative charges, remote cargo release approvals and opaque cost structures”.
“In effect, weak regulation of shipping line conduct externalises inefficiencies into the Customs clearance process, inflates transaction costs, distorts compliance behavior and undermines the credibility of customs-led trade reforms,”
Nweke said that SEREC had submitted a white paper to the government advocating that shipping line governance, port economic regulation, and customs trade administration should be treated as inseparable policy domains.
SEREC said Nigeria’s Port challenges were not only infrastructure-driven but governance-related, warning that weak regulation, missing oversight reports and unchecked discretion in systems like the NSW could undermine reform efforts.
SEREC recommended reforms for Nigeria’s shipping sector, including public release of committee findings, statutory refund timelines with penalties, banning speculative demurrage billing, mandatory local cargo release and alignment of shipping practices with the NSW among others.
Nweke said that the aim of the white paper was to draw attention to sharp practices and regulatory weaknesses that had evolved beyond operational inconveniences into macroeconomic and governance risks.
“For NCS trade reforms to deliver their full impact in 2026 and beyond, shipping practices must align with the same principles guiding Customs modernisation: transparency, predictability, automation, accountability and local control.
Nweke said that by 2026, stakeholders in Nigeria’s maritime industry hope to transition from opaque and arbitrary port operations to a transparent, rules-based system managed through digital technology.
He stressed that the shift should align with ongoing reforms and international best practices, facilitated by the government through providing enabling environment and enforcing regulations
“These include predictable costs, enforceable service standards, transparent billing, time-bound cargo release, and institutional accountability particularly as Nigeria advances the National Single Window (NSW), port economic regulation, and revenue optimisation objectives.
“The expectation is not the creation of new laws, but disciplined enforcement of existing instruments, public disclosure of regulatory outcomes, and insulation of regulators from political and commercial capture,” Nweke said.
By: CHINEDU WOSU
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Maritime

Tinubu Approve Take Off Of Olokola Deep Seaport In Ogun State

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2 weeks ago

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January 28, 2026

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Nigeria President, Bola Ahmed Tinubu has approved the immediate take-off of the Olokola Deep Seaport project in Ogun Waterside Local Government Area
The approval brings  to an end years of delay surrounding the multi billion dollar Port.
Gov. Dapo Abiodun of Ogun made this Known to Journalists during an interactive session
 Governor Abiodun said the Seaport would help decongest Lagos ports, while oil drilling at Tongeji Island would boost economic activities and inclusion in coastal communities.
“The Olokola deep seaport project, which has been on the drawing board for several years, has been revived following a series of meetings with the President”.
“I want to sincerely thank Mr President because this is solely his initiative. In the last two weeks alone, we have held several meetings on Olokola, and he has clearly expressed his desire to see the port become a reality,” he said.
The Governor said the seaport would be known as the Blue Marine Economic Zone, would leverage the coastal road as an alternative logistics corridor and further ease pressure on the Lagos ports.
He commended the Nigerian Navy for establishing a Forward Operations Base at Tongeji Island, saying the move would enhance security and prevent infiltration from neighbouring Benin Republic.
The Governor said that the state government was working to provide basic amenities for residents of the island to improve living conditions and support emerging economic activities.
Abiodun thanked the Navy for its contribution to security in the state, attributing the relative peace in Ogun to collaboration among security agencies.
By: CHINEDU WOSU
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Maritime

Gov Eno Vows To Actualise Ibom Deep Seaport Project 

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2 weeks ago

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January 28, 2026

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 Akwa Ibom State Governor, Umo Eno says his administration is  commitment to deliver the Ibom Deep Seaport project as a critical infrastructure to boost the state’s economy and transform the region.
The Governor said this during the signing of a Memorandum of Understanding (MoU) between the state government and the Interaf Group Consortium at the Government House, Uyo.
Represented by the Secretary to the State Government, Mr Enobong Uwah, Eno emphasized on the project’s significance.
“The project is a necessity for the people of the state as my administration is fully committed to putting the necessary requirements in place to get it on course,” Eno said.
The Governor urged the consortium to work closely with the Akwa Ibom Investment Corporation, AKICORP, and the government’s representatives to ensure its timely execution.
He commended the organisation for its interest in ensuring the actualisation of the project
The Governor thanked the former Petroleum Minister, Mr Don Etiebet, for being a part of the team, and for working toward the actualisation of the facility.
Earlier,Chairman and Chief Executive Officer of Interaf Group Consortium, Mr Ezinwa Ibekwe commended the government for the confidence reposed in the company.
Ibekwe assured the government of the consortium’s readiness to deliver on its mandate, promising a collaborative approach to ensure the project’s success.
By: CHINEDU WOSU
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