Connect with us

Business

RTEAN Decries Poor Access Roads …Loses 400 Trucks In One Year

Published

on

The Road Transport Employers Association of  Nigeria (RTEAN) has decried the poor state of port access roads in the country, saying members lost over 400 trucks in Apapa and Tincan Island ports axis in the last one year alone .

He added that some of the truckers have sold off their trucks as scraps due to lack of job and poor port access roads.

Lagos State chairman of RTEAN, Alhaji Musa Muhammed,   stated this at the monthly news events of the Association of Maritime Journalist of Nigeria (AMJON), tagged  monthly round table held in Lagos, recently.

Muhammed who was represented at the event by the State Public Relations Officer, Comrade Abayomi Afini, said that members plying their trade in the ports are leaving the business in droves because it is becoming increasingly unprofitable due to the very poor state of ports access roads and the downturn in the Nigerian economy which has, according to him, cut imports coming into the country through the seaports by about half.

He lamented that while  the poor port access roads is damaging the vehicles daily, cost of acquiring  new trucks has doubled even as cost of spare-parts has gone up by over 50 percent in the last one years.

 Muhammed said, in Tincan and Apapa alone, I can count about 40 owners that are no more in business. I am talking of members that have about 10 to 15 trucks each.

“Our very bad situation is made  worse  by the fact that instead  of the cost of  freight going up following the rising cost of business, cost of  freight is rather falling.

 In 2007, for instance, we used to charge N160,000 for a 40 feet container to Ikeja, but today we charge N60,000 for the same 40 feet container to Ikeja because even as the cost of doing the  business is very high, there is no business either because  of government policies that have dried  up imports to Nigeria,” he said.

He lamented that members of the Association are now selling their trucks and going into Commercial Bus Transportation Business.

“Infact it is more profitable to operate Keke Napep than to own a truck today in Nigeria”, he added.

Mohammed also said that the Nigeria Port Authority (NPA) deceived its members to subscribe to the N10,000 payments for stickers it introduced last year as a measure for minimum truck standardization in the port.

He added that lack of unity among the various Truck Owners Associations in the port contributed to NPA’s success in collecting  the fee for the strckers even as  he blamed the government for not sticking  to the two recognized associations notable in the transport  sector

He said, “Last year, NPA came up with the issues of stickers that has been there for six years but because there are many associations in the ports, that is why we have the problems we have today.

“If government has been dealing with the two major Associations, that is the National Union of Road Transport Workers (NURTW) and RTEAN, there wouldn’t have been the problems we have today in the ports. These two bodies are supposed to take care of all transport problems in the country; but today, we have so many associations.

“On the issue  of the stickers we had several meetings with the MD and  the General Manager, Western port of NPA, they told us that immediately  we are able to pay the money, extortion  would stopped at the gate but that has not stop”, he said.

Earlier, the Public Relations Officer had disclosed that the association has an internal standard assurance mechanism to make sure that members’ trucks met the required standard.

He said that the Association had always ensured that its members maintain their trucks and to make sure they are in good shape and they are complying with to the directive”.

He however denied the allegation that members of the association park their trucks indiscriminately on the roads thereby causing traffic gridlock, saying the reason why trucks litter the roads is because the terminal operators  have failed to produce truck bays as well as the failure of the government to provide parking lot for trucks coming into the ports.

Nkpemenyie  Mcdominic – Lagos

Continue Reading

Business

FG Begins South-West Tour To Promote New Cooperative Bank

Published

on

The Federal Government has launched the South-West zonal engagement and ministerial advocacy tour on the Cooperative Bank of Nigeria share capital mobilisation, sensitisation and cooperative sector digitalisation.
 Reports say the initiative was launched through the Federal Ministry of Agriculture and Food Security.
According to reports, the advocacy tour, organised by the ministry’s Federal Department of Cooperatives, began on Monday in Lagos.
Speaking at the event, the Minister of State for Agriculture and Food Security and Supervising Minister of Cooperative Affairs, Dr Aliyu Abdullahi, said the initiative was part of President Bola Ahmed Tinubu’s Renewed Hope Agenda.
Abdullahi described the exercise as a strategic effort to reposition the cooperative sector as a key driver of inclusive economic growth, financial inclusion, enterprise development, food security and national prosperity.
“Today represents a defining moment in our collective determination to reposition the cooperative sector as a major driver of inclusive economic growth, financial inclusion, enterprise development, food security and national prosperity,” he said.
The minister noted  the modern cooperative movement in Nigeria originated in the South-West following the 1934 Strickland Report, which led to the enactment of the Cooperative Societies Ordinance of 1935.
According to him, the decision to commence the sensitisation and share capital mobilisation tour in the region is symbolic, as it marks a return to the roots of cooperative development in the country.
Abdullahi said the advocacy tour was a direct outcome of resolutions reached at the 8th Regular Meeting of the National Council on Cooperative Affairs held in Abuja in March 2026.
He said the council approved the Renewed Hope Cooperative Reform and Revamp Programme, a comprehensive framework designed to strengthen the cooperative sector and align it with the administration’s goal of building a one-trillion-dollar economy.
“The reform programme focuses on seven strategic pillars, including governance reforms, cooperative financing and the establishment of the Cooperative Bank of Nigeria, digitalisation, capacity building, value chain development, inclusion of youths, women and persons with disabilities, and strategic partnerships,” he said.
He said the establishment of the Cooperative Bank of Nigeria and the digitalisation of the cooperative sector were the two major transformational initiatives under the programme.
“The Cooperative Bank of Nigeria is aimed at rebuilding a strong cooperative financial system capable of supporting cooperators, farmers, artisans, traders, SMEs, youths, women and persons with disabilities with accessible and affordable financial services,” he said.
Abdullahi emphasised that the proposed bank would be government-enabled but not government-funded.
“Government is not establishing the bank as an owner, nor will it rely on Treasury Single Account funds.
“The role of government through the FMAFS is to provide policy support, stakeholder coordination, regulatory facilitation and an enabling environment under the Renewed Hope Cooperative Reform and Revamp Programme,” he said.
Also speaking, the Lagos State Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs Folashade Ambrose-Medebem, reaffirmed the state government’s commitment to cooperative sector transformation.
She described cooperatives as critical tools for promoting inclusive growth, grassroots productivity, food security, financial inclusion and community wealth creation.
Ambrose-Medebem said Lagos State would continue to support reforms and collaborate with stakeholders to ensure the successful implementation of the Renewed Hope Cooperative Reform and Revamp Programme (2025–2030).
“Together, let us build a cooperative ecosystem that is modern, transparent, digitally enabled, financially inclusive and globally competitive.
“Let us build cooperatives that not only mobilise savings, but also mobilise prosperity,” she said.
Continue Reading

Business

Customs Impound N2.35bn Cocaine, 15 Trailers of Rice

Published

on

The Nigeria Customs Service (NCS), Federal Operations Unit (FOU) Zone ‘A’, Ikeja, has impound Cocaine Substance valued at ?2.35 billion alongside 15 trailer-loads of foreign rice and a wide range of contraband across the South-West.
This was disclosed to Newsmen during a press briefing in Lagos by Controller of the Unit, Comptroller Gambo Aliyu,
Aliyu revealed that the seizures were made over an eight-week period, underscoring intensified enforcement efforts.
According to him, operatives foiled 473 smuggling attempts within the period, leading to the confiscation of 8,794 bags of 50kg foreign rice, 22 used vehicles, 328 bales of used clothing, and 31,705 litres of Premium Motor Spirit (PMS).
He said other seized items include a Mercedes-Benz vehicle and various food products such as poultry, vegetable oil, spaghetti, and sugar.
Aliyu clarified that the rice displayed at the briefing represented cumulative interceptions made at different locations and times across the zone.
“All the rice you see here are accumulative of seizures carried out at different places, at different times, and through different interdictions,”
Beyond the economic implications, the Comptroller emphasized the social cost of drug trafficking, warning that narcotics continue to destroy families and fuel criminal activities.
“It may surprise you to know that many homes are broken due to drugs.
” Our mandate is to cut off the supply chain, and that is exactly what we are doing,”.
Similarly Customs operatives at the Gbaji outpost intercepted a 71 year-old suspect along the Lagos-Abidjan corridor with 6.35kg of cocaine concealed in a Toyota Highlander.
The drugs, comprising both powdered and crystalline forms, were valued at ?2.35 billion.
Under a special enforcement drive, codenamed “Operation Hawk,” the unit also seized 3,340 parcels of synthetic cannabis, popularly known as “Ghanaian loud,” weighing 1,540kg.
 The substances, along with three suspects, have been handed over to the National Drug Law Enforcement Agency (NDLEA) for further investigation and prosecution.
In a related operation, officers intercepted four cylinders of mercury hidden in a vehicle along the same corridor. Aliyu described the substance as hazardous and subject to international regulation.
Overall, the Duty Paid Value (DPV) of the seizures stands at approximately ?5.5 billion, reflecting the scale of enforcement activities.
 Additionally, the unit recovered ?97.7 million through Demand Notices issued on under-declared consignments.
Aliyu reaffirmed the Service’s commitment to deploying modern technology—including geospatial intelligence, drone surveillance, and real-time tracking—to strengthen border security and clamp down on smuggling networks.
CHINEDU WOSU
Continue Reading

Business

Dangote,  Nicolai Tangen To Partner In strategic sectors

Published

on

Chief Executive Officer of Norges Bank Investment Management, Nicolai Tangen ( manager of the world’s largest sovereign wealth fund) has expressed interest in partnering with Dangote Group to expand investments across Africa, particularly in strategic sectors such as power, energy, renewable energy, agriculture, fertiliser and cement.
This was made known during a meeting of Chief Executive of Dangote Group, Aliko Dangote  with Nicolai Tangen, the manager of Norwegian investment institution (with assets estimated at about $1.9 trillion) .
Also present at the meeting were Svein Tore Holsether, Chief Executive Officer of Yara International, and Terje Pilskog, Chief Executive Officer of Scatec, a global renewable energy company.
The engagement reflects growing international investor confidence in Africa’s industrial and infrastructure potential, as well as the increasing role of indigenous conglomerates such as Dangote Group in driving large-scale economic transformation across the continent.
Industry observers say the proposed collaboration could create significant opportunities for investments in critical sectors linked to energy transition, food security, industrialisation and infrastructure development.
The Norwegian sovereign wealth fund, regarded as one of the world’s leading institutional investors, has in recent years increased its focus on emerging markets, with Africa seen as a major frontier for long-term investment and value creation.
Analysts believe a partnership between Norges Bank Investment Management and Dangote Group could unlock substantial capital flows into infrastructure and industrial projects across Africa, helping to accelerate economic growth and regional integration.
Nkpemenyie Mcdominic, Lagos
Continue Reading

Trending