Business
Maritime Stakeholder Laments High Port Charges
A maritime stake
holder, Mr David Enyia, has observed that virtually all the Nigeria borders are porous because of the high cost of doing business via the nation’s port.
To that end, he has urged the Federal Government to take the bull by the horn by ensuring conducive business environment at the ports, as well as stem the insecurity at the borders.
Enyia, a member of the Nigeria Ports Consultative Council (PCC) who disclosed this to The Tide in Port Harcourt recently said that effective port service delivery should first be considered before pricing.
He said “Port system must first consider optimal service delivery by avoiding delays. It means that modern infrastructure is capable of supporting the cargo, traffic, 24-hours cargo delivery and 24-hours vessel pillage service should be in place”.
He noted also that some importers use ports in neigbouring countries because they want to smuggle in their goods with a determination to beat government’s fiscal policy.
“For example, you will see that there is a high rate of importation of vehicles through the land borders, this is because they want to pay less duty on them,” Enyia added.
According to him, some importers will deliberately decide to use the ports in neigbouring countries in order to evade duties or engage in smuggling of such goods across the border.
He noted that investment in ports are meant to upgrade facilities, improve the training of the workers, the acquisition of modern cargo handling equipment, as well as improve the clearing process at the ports.
Corlins Walter
“Payment of tuition fees for undergraduate/postgraduate studies shall be subject to a maximum limit of $25,000.00 per semester,” the Manual states.
The expansion of international card limits also reflects growing confidence among lenders that foreign exchange liquidity has improved enough to support retail dollar transactions.
Speaking recently at the BusinessDay 14th Annual CEO Forum in Lagos, CBN Olayemi Cardoso, governor of the CBN said buying and selling activities now increasingly determine outcomes in the foreign exchange market, unlike in the past when market participants relied heavily on routine Central Bank interventions.
According to Cardoso, Nigeria’s net foreign exchange reserves have risen from just over $3 billion at the start of the reform programme to more than $40 billion, while gross reserves have climbed to about $52 billion, providing stronger confidence for investors and enabling the Central Bank to reserve interventions for periods of market stress rather than day-to-day liquidity management.
The restoration and expansion of international naira card spending limits are increasingly being seen as one of the clearest signs that the benefits of the CBN’s foreign exchange reforms are beginning to reach households, students and businesses making legitimate cross-border payments.
The Secretary-General and Chief Executive Officer, WEC, Dr Angela Wilkinson, disclosed this in a statement, last Thursday.
“Nigeria’s participation comes at a pivotal time as the country seeks to expand energy access, strengthen energy security, accelerate gas development and mobilise the capital required for industrialisation and sustainable economic growth.
“WEC Nigeria will convene leaders from across the energy ecosystem, apply the WEC’s globally recognised Energy Trilemma framework to Nigeria’s unique context, and promote evidence-based dialogue, practical collaboration and informed policymaking.
“It will also ensure that Nigerian and broader African perspectives contribute meaningfully to global energy conversations,” she said.
Wilkinson expressed confidence that Nigeria would play a significant leadership role at the World Energy Congress scheduled for Riyadh in April 2027 and beyond.
The statement also quoted the Chairman of WEC Nigeria, Isa, as describing the country’s participation as an opportunity to deepen national and African leadership within the global energy community through practical solutions tailored to regional development priorities.
He said the platform would promote collaboration across sectors and attract sustainable investments into Nigeria’s energy sector.
The Chief Executive Officer of WEC Nigeria, Wunti, was quoted in the statement as saying that the council would connect leadership, evidence and investment to build a secure, affordable and sustainable energy system.
“This system will be capable of driving economic growth and shared prosperity.”
According to him, the platform will also connect Nigerian institutions and businesses with international knowledge, technology, partnerships and investment opportunities through the World Energy Council’s global network.
Recall that WEC, founded in 1923, is the world’s oldest independent and impartial community of energy leaders and practitioners, advancing informed, collaborative and practical action across the global energy system.