Business
FG Commits To Building Modern Maritime Sector
Minister of Marine and Blue Economy, Adegboyega Oyetola, has said the Federal Government under President Bola Tinubu is committed to building a modern, safe, and globally competitive maritime sector.
Oyetola also announced plans to replicate the success of the Lekki Deep Seaport across Nigeria’s maritime sector, which he described as a model for transformative growth and development.
A statement on Tuesday by his media aide, Dr. Bolaji Akinola, said the Minister stated this during a breakfast meeting organised by the Nigerian Chamber of Shipping, themed, “Unlocking Opportunities: The Lekki Deep Seaport Playbook for Trade and Shipping in Nigeria”.
In the statement, Oyetola explained that a central component of the current administration’s strategy is the nationwide application of the public-private partnership model and logistical efficiency demonstrated at the Lekki Deep Seaport.
According to him, the maritime industry stands at the heart of the nation’s economic aspirations, not merely as a conduit for trade, but as a catalyst for industrial growth, job creation, and regional integration.
“Our vision is clear: to build a modern, safe, efficient, and globally competitive maritime sector that fully unlocks Nigeria’s economic potential. Achieving this vision would require more than sound policies; it demands sustained investment in infrastructure, targeted capacity building, accelerated digital transformation, and strong, enduring partnerships with the private sector”, Oyetola said.
He highlighted Lekki Deep Seaport’s capacity to handle 1.2 million twenty-foot equivalent units and accommodate large vessels, noting that it has already generated thousands of direct and indirect jobs.
He also commended the completion of critical access roads, stating that for the first time in decades, they have freed major Nigerian ports from logistical bottlenecks.
“Cargo now moves out faster, investors move in with confidence, and trade flows without unnecessary delay”, the Minister stated.
The former Governor added that the port, which currently operates at only 20 per cent capacity, presents vast, untapped opportunities for investors.
Oyetola emphasised that the Lekki playbook is founded on five key pillars, namely, a strategic location, a robust public–private partnership framework, integrated transport links by road, rail, and inland waterways, supportive policies, and technology-driven operations.
To replicate this model nationwide, Oyetola confirmed that the Ministry is actively modernising Apapa and Tincan Island Ports and also upgrading the Eastern Ports in Onne, Calabar, and Rivers.
“Under the leadership of President Tinubu, this administration is committed to taking the lessons of Lekki and applying them nationwide to transform our entire port system into a network of modern, efficient, and competitive gateways.
“To this end, we are modernising the Western Ports in Apapa, upgrading the Eastern Ports in Onne, Calabar, and Rivers to stimulate balanced regional growth, and finalising the Port Community System, integrated with the National Single Window to create a paperless, transparent, and secure digital environment for all maritime stakeholders”, he stressed.
He emphasised that a strong national shipping fleet is essential to building local capacity and asserting Nigeria’s presence on global trade lanes, with the ultimate goal of establishing a National Flag Carrier.
The Minister concluded by stressing that the Lekki Deep Seaport serves as clear evidence of what can be achieved when policy, vision, investment, and execution align.
He urged all stakeholders to replicate, refine, and scale the model for the prosperity of Nigeria and the African continent.
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The Federal Executive Council (FEC) has approved four new channel management companies for seaports across the country in a move aimed at improving vessel navigation and port operations.
Speaking at the recently concluded Annual General Meeting of the Nigerian Association of Master Mariners (NAMM), former General Manager, Marine and Operations, Capt. Ebubeogu Ihenacho, disclosed that there would be changes in the ownership of the Lagos Channel Management Company Limited and the Bonny Channel Management Company.
According to Ihenacho, the four channels serving Nigeria’s major port clusters will have different channel management companies as approved by the FEC.
He said a new company had been approved to manage the Lagos port channel, with a change of name, while the Calabar Channel would be managed by the Calabar Channel Management Company.
He added that Bonny Channel Management Company had also undergone a change of ownership.
On the Warri Channel, Ihenacho said the Federal Government had approved China Harbour Engineering Company (CHEC) and two other companies to form a consortium to manage the Escravos Channel.
He said: “For Warri, it was approved for China Harbour Engineering Company, CHEC, and two other companies, who would now form a consortium.
That consortium will now form a Special Purpose Vehicle (SPV) with the Nigerian Ports Authority to manage the Escravos Channel.”
Recall that the management of the NPA had declined to renew the concessions of the Lagos Channel Management Company Limited and the Bonny Channel Management Company, opting instead for six-month extensions of the existing arrangements.
By; Enoch Epelle
The Rivers State Internal Revenue Service (RIRS) has warned motorists, transport operators and business owners against paying taxes, levies or charges to Unauthorised persons and organisations, insisting that only the Service and its duly appointed agents are legally empowered to collect taxes on behalf of the state government.
The Service gave the warning in a public notice dated October 21, 2026, signed by its Executive Chairman, Sir Israel O. Egbunefu, FCTI, in which it clarified that the Rivers State Ministry of Transport was not authorised by the state government to collect road tax or any other tax, levy or charge from motorists and transport operators.
RIRS also specifically disowned Explore Strategic Alliance Ltd, located at No. 7 Rumuodaolu Market Road, Port Harcourt, declaring the company had not been appointed or authorised by either the state government or the Service to collect Motor Vehicle Transport (MOT) tickets or any other tax on its behalf.
The revenue agency consequently cautioned members of the public against making payments to the company or any of its staff, stressing that anyone who ignored the warning would do so at their own risk.
It reaffirmed that only the legally authorised agency responsible for tax collection in Rivers State and the appointed agents that would carry out such duties in accordance with the law.
The Service urged taxpayers to demand official identification from anyone claiming to be its tax agent and verify the person’s credentials directly with RIRS before making payments.
It further warned that individuals or groups found impersonating tax consultants, agents or their representatives to collect Unauthorised taxes would be arrested and prosecuted in accordance with the law.
RIRS also called on members of the public to report suspicious persons and activities relating to Unauthorised tax collection to the Service for appropriate action.
The agency advised taxpayers seeking clarification or assistance to visit any of its offices or contact it through its official email address, info@riversbirs.gov.ng.
The Service reiterated its commitment to protecting taxpayers, promoting voluntary compliance and safeguarding the integrity of tax administration in Rivers State.
By: King Onunwor
Consumers and traders at the Swali ultramodern market in Yenagoa, capital of Bayelsa State have continued to groan over high prices of commodities and poor Patronage due to cost-push inflation.
The Tide reports that in the past weeks prices of goods and services in Yenagoa metropolis has experienced increase.
Notable services like transportation have also increased lately due to increase in the pump price of fuel that has recently further exacerbated inflation in the prices of staple foods like rice, beans, garri and others.
Speaking with The Tide on a market survey, a trader, Mrs Tovie Barakabo said a bag of bean which sold between N120,000-N130, 000 now goes for N140,000-N145,000.
Mrs Barakabo also hinted that the only commodities whose price has not gone up was price of millet which sells N60,000, while big bag of garri now sells for N30,000.
The Tide further gathered from other inside Source that 25 litres of Kings cooking oil currently sells N75,000 as against the former price of N57,000.
Other commodities such as delicious vegetable oil now goes for N68,000, Pure vegetable oil currently goes for N66, 000, while spaghetti is now N18,800 per bag.
The market survey also discovered that Sonnia tomato mix sells N75,609, while a big and small basket of fresh tomatoes are sold for N30,000 and N6,500 respectively.
A disappointed custom, Mrs Juliet Domo who fielded questions from The Tide expressed her worries over the inflation, calling on government to take decisive stands against inflation.
By: Ariwera Ibibo-Howells, Yenagoa
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