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NPA To Generate N629bn Revenue In 2024 -MD

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The Nigerian Ports Authority (NPA) says the authority will generate N629.89 billion in 2024.
NPA is also seeking for N200 billion loan from Afrexim Bank for ports development.
Managing Director, NPA, Mr Mohammed Bello-Koko, stated this while defending the 2024 budget before the House of Representatives Committee on Ports and Harbours in Abuja.
He said the United Kingdom Export Finance (UKEF) was also listed as one of the financial institutions from which to source the loan.
Koko said the total projected expenditure was N464.32 billion, while the operating expenses were projected at N212.03 billion and the capital expenditure stood at N252.29 billion.
“Part of the main trust of the 2024 budget is the urgent need to rehabilitate, reconstruct and moderate the dilapidated port infrastructure facilities”, he stated.
The Managing Director said defects in the facilities were hampering efficiency and productivity in the ports, saying that the defects include the quay walls and the replacement of old gravity walls.
According to him, another is need for rehabilitation of Escravos breakwaters.
“This is aimed at improving port efficiency and increasing cargo traffic through investment funding from the financiers, UKEF and Afrexim”, he said.
Earlier, Chairman of the committee, Nnolin Nnaji, said the agency is very dear to the country, hence the need for the committee to visit some of the facilities outside Lagos.
“We need to see those things you are telling us. The House of Representatives is very serious about budget defence, while they do screening on the other side, budget defence is here”, he said.
He commended the Managing Director for the budget presentation, saying that he believed in the subsequent budget
“We accept this budget, and we will move further with it”, he assured.
The lawmaker also said the drainage channels were full of wreckages and expressed concern over lack of information on wreckage removal.
Nnaji noted that as long as the NPA avoided the wreckage, it will keep occurring because of the abandoned ships facilities.

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Lagos Announces 15-day Closure Of Marine Bridge For Maintenance Repairs 

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The Lagos State Government has announced that the Marine Bridge in Ijora, Apapa Local Government Area, will be closed for 15 days to allow for essential maintenance works.
The State Commissioner for Transportation, Oluwaseun Osiyemi,
disclosed this in a Statement posted on his official X account.
Motorists are advised to plan ahead and be patient while the Federal Ministry of Works, in coordination with Lagos State, carries out essential bridge maintenance.
“The Lagos State Government wishes to inform the general public that the Marine Bridge in Ijora, Apapa Local Government Area, will be closed for 15 days to allow for essential maintenance works,” the statement read in part.
It added, “Motorists are advised to be patient, as the closure is part of the traffic management plan for maintenance works on the underlying bearings of some sections of the Marine Bridge by the Federal Ministry of Works (Office of the Federal Controller, Lagos).”
The statement further explained that the maintenance project will be carried out in two phases. Phase I, running from Saturday, 11th October to Saturday, 18th October 2025, will cover the area from the foot of Marine Bridge along Lawani Oguntayo Road near UBA, inbound toward Apapa and Costain.
During this period, motorists traveling from Ijora Olopa to Apapa will be diverted via the Ijora Causeway Access Ramp near Omni Retail Company, continue to Ijora 7up, turn left onto the Lilypond Access Ramp, and proceed on their journeys.
Phase II, from Sunday, 19th October to Saturday, 25th October 2025, will focus on the stretch between Ijora Badia and Lilypond Access Ramp, inbound toward Apapa.
Motorists from Ijora Olopa heading to Apapa and Costain would be diverted about 50 meters before the work zone into a contraflow with Constant traffic, rejoining the main carriageway after 500 meters.
Those traveling from Apapa toward Costain, Lagos Island, or Ijora Olopa would maintain through traffic but will also be redirected into a contraflow near the work zone for roughly 500 meters before resuming normal access.
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NRC Generates ?1.95bn Revenue In Q1 2025, Records 37% Growth – Says NBS

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The National Bureau of Statistics (NBS) says the Nigerian Railway Corporation (NRC) has generated ?1.95 billion in passenger revenue in the first quarter (Q1) of 2025
The Bureau said the amount represent a 37.36 percent increase from the ?1.42 billion recorded in the same period of 2024.
The data, released in the NBS Rail Transportation Report on October 5, showed steady growth in rail patronage across the country. Between January and March 2025,
NBS said that a total of 929,553 passengers travelled by train, marking a 37.65 percent rise compared to 675,293 passengers transported in Q1 2024.
Similarly, the volume of goods and cargo conveyed by rail climbed to 181,520 tons in Q1 2025, up from 160,650 tons in the corresponding period of 2024.
The Bureau said Revenue from freight operations also increased by 8.19 percent to ?657.03 million, compared to ?607.32 million in the same quarter of the previous year.
The report further revealed a sharp rise in other receipts — which include income from services such as leasing, station fees, and sundry charges — amounting to ?115.68 million, a 355.39 percent jump from ?25.40 million in Q1 2024.
For comparison, the NBS noted that in Q4 2024, the rail system transported 1,037,113 passengers, reflecting a 54.29 percent increase from 672,198 in Q4 2023.
The report said that Passenger revenue during that quarter stood at ?1.92 billion, up from ?1.07 billion in Q4 2023.
However, freight revenue in Q4 2024 declined slightly by 7.46 percent, from ?423.22 million in Q4 2023 to ?391.64 million, while ?8.93 million was realized from transporting 1,260 tons of goods through pipelines in the same period.
Meanwhile, other receipts for Q4 2024 rose to ?434.44 million, representing a 10.34 percent increase from ?393.72 million recorded in Q4 2023.
According to the NBS, the consistent rise in passenger traffic and earnings reflects growing public confidence in Nigeria’s rail transport system, driven by continuous investments in rail infrastructure and service expansion by the NRC.
By: Chinedu Wosu
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NSC Says Credible And Enforceable Laws Are Backbone Of Port Regulation 

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The Executive Secretary and Chief Executive Officer CEO, Nigerian Shippers’ Council (NSC), Dr. Akutah Pius has said that credible and enforceable laws are crucial for effective port regulation in Nigeria.
Pius stated this in his Paper Presentation at the 2025 League of Maritime Editors’ summit held in Lagos.
Represented at the summit by its Director, Regulatory Services Department Mrs, Margaret Ogbonna, Pius highlighted the importance of aligning competitive laws with institutional capacity to drive benefits like competition, investment, and predictability.
He stressed the need to pass the Port Economic Regulatory Agency Bill (NPERA) into law to enhance transparency, competition, and dispute resolution in the maritime sector.
The Shippers boss who noted that strong laws are essential stated however that their effectiveness depends on proper implementation and stakeholder buy-in.
“Without effective implementation, laws can’t serve their purpose. Regulation requires full stakeholder buy-in.”, he said.
Highlight of the event was the presentation of the Maritime Chief Executive Officer CEO Year award for his outstanding contributions to the maritime industry and economic growth by the 2025 League of Maritime Editors Summit.
By: Chinedu Wosu
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