Business
Nigerians Engage In $40bn Illegal Export Annually – NEPC
The Nigerian Export Promotion Council has said Nigerians are exporting goods worth over $40bn informally every year.
The Executive Director and the Chief Executive Officer of the NEPC, Mr. Segun Awolowo, stated this in Lagos last Friday during a visit to the President, Nigerian Association of Chambers of Commerce, Industry Mines and Agriculture, Chief Alaba Lawson.
According to him, a lot of goods are moving from Nigeria to other African countries without being documented.
He said the council had initially estimated such trade as $8bn annually, but going by the calculation of the International Trade Centre in Geneva, over $40bn worth of goods were informally exported.
Awolowo worried that this informal trade did not reflect on the economy and sought the NACCIMA’s collaboration to formalise the trade.
He said, “We want to work with NACCIMA to formalise this informal trade. We have to work with your chambers in all the states of the federation. We have to give these small business owners incentives that will make it better for them to do business.”
According to him, in order to aid small businesses, the Federal Government has introduced the Export Development Fund, a pre-shipment incentive that will help start-ups to grow and export.
Awolowo said the council had concluded plans to organise buyers market all over the world for Nigerian products.
He also sought NACCIMA’s collaboration in driving the zero oil plan, an initiative that would make Nigeria survive in a world economy without selling oil.
He said, “We have 11 non-oil sectors where we can earn foreign exchange and one of them is the petrochemical sector, which is a $150bn global market.
“Nigeria is not playing in this market because it is importing; but we are a petrol economy and that is where the paradox lies.”
According to him, the private sector has taken up the challenge of playing in the petrochemical market.
Alaba-Lawson on her part said that stronger collaboration between NEPC and NACCIMA would be feasible and fruitful.
She appreciated the council’s usual support and its readiness to sponsor 10 Small and Medium Enterprises to attend the 22nd American Food and Beverage Show and Conference slated for October in Miami, United States of America.
The show, according to her, is an opportunity for Nigerian goods to penetrate the global market and create market for the SMEs in line with NEPC’s vision to make the world a market place for Nigerian products.
Business
UNIPORT, UNIBEN Clinch NCDMB’S Engineering Olympiad Regional Victories
Two universities in the Niger Delta zone (University of Port Harcourt and University of Benin) have emerged winners of the South-South region in the Nigerian Engineering Olympiad (NEO) competition.
The NEO competition which took place at the Nigerian Content Tower(NCT), headquarters of the Nigerian Content Development and Monitoring Board(NCDMB) in Yenagoa, Bayelsa State is a nationwide engineering, innovation and entrepreneurship competition launched in 2025 by a non-profit organization, ‘Enactus Nigeria’, in partnership with NCDMB, Renaissance Africa Energy Company Limited, First Exploration & Petroleum Development Company and the Nigerian Society of Engineers (NSE).
The two Universities teams represented differently by ‘Inovation team PROTRONICS’ and ‘Innovation team VHORDE’, won their counterparts from the Igbinedion University, Okada, Edo State, Federal University of Petroleum Resources (FUPRE), Effurun, Delta State, and the University of Uyo, Uyo, Akwa Ibom State, in the competition showcasing hardware and software prototypes developed to serve as innovative solutions to real-world challenges with specific reference to Nigeria and Africa.
From UNIPORT’s ‘team PROTRONICS’ was an innovation called ‘KEYTRIC’ which the competitors presented as a ‘SMART POWER CONTROL’ that makes electricity usage effortless and automating with the use of an intelligent locking systems.
Team PROTRONICS highlighted high electricity bills, electricity fire risk and expensive smart home and gaps in existing solutions, including costly installation, lack of integration between security and energy, and dependence on the Internet as the reason for their innovative invention.
“Our innovative solution is a smart energy door lock that switches off a user’s electricity supply when they lock to leave the house.
“Our solution saves money on electricity bill, reduces the risk of electric fire accident, and is affordable to everyone”, the Uniport’s team said.
On the other hand, Team VHORDE of the University of Benin presented what it terms Intelligent Real-time Interface(IRIS) which enables visually impaired individuals to gain sight.
They pointed out that there are 4.5 million visually impaired Nigerians who are in some way incapacitated and unable to live life to the fullest.
The students displayed an IRIS pack, consisting sensors, wearable glasses, microphone, camera and Haptic feedback.
On how the IRIS works, the UNIBEN students said the smart glasses, which consist, a camera, depth sensor, and edge Artificial Intelligence(AI) processor, enables a visually impaired person to see and understand the world in real time.
“There’s an AI Compute Unit to be worn at the waist, which runs Convolutional neutral network (CNN) object detection, face recognition, and voice processing on-device”, the team said.
In a section on Business Model and Revenue Streams, the University of Benin competitors indicated production-scale pricing for IRIS Standard as N699,000 one-time purchase.
According to the team, the IRIS standard has the following functions, real-time object and scene identification, familiar face recognition, obstacle and hazard detection (haptic wristbands), natural voice interaction, Edge AI – fully offline core functions, and OTA software updates via Wi-Fi.
In an assessment of the prototypes and demonstrations made, one of the key judges of the competition, Engr. Dokubo Obongo, Manager, Institutional Strengthening, at the NCDMB, described all the presentations as “top-notch”.
He noted that there are solutions that are viable marketwise, relevant to the society and the challenges humans face, explaining that the Engineering Olympiad is a competition targeted at developing home-grown solutions from research and development from Nigerian universities.
“The idea is to see how we can proffer solutions to our own problems which means creating business opportunities”, he said.
Speaking for Enactus Nigeria, the group’s Country Director, Mr. Michael Ajayi, said the two top finalists from the six geopolitical zones would move to a boot camp for further preparation towards the main national championship, and that the best three teams would share N100 million.
He also disclosed that each of the 30 teams that displayed prototype technology in the regional competition would receive N3 million.
Team PROTRONICS of the University of Port Harcourt had as Team Lead Dr. Victor Jinn (Faculty Adviser), while the contestants were Chukwuma Sunday-Odu, Fubara David Otokini, and Ekemini Godwin Akpan, while Team VHORDE of the University of Benin had Anoint Oritsetimeyin Igorki, Oghosa Derick Osarobo, Uti Henry Eworitsewarami, Jada O. Godfrey-Ariavie, Richard O.Enegbuna, Momodu O. Olayemi, and Asemota G. Ayevbosa.
By: Ariwera Ibibo-Howells, Yenagoa
Business
Customs Launches SCADS To Curb Airport Delays
The Nigeria Customs Service (NCS) has officially unveiled the Simplified Customs Advanced Declaration System (SCADS) at the international wing of the Nnamdi Azikiwe International Airport, Abuja.
The move is aimed at improving passenger clearance, compliance and customs operations.
This was contained in a statement by the NCS spokesperson, Abdullahi Maiwada, and made available to Newsmen in Abuja.
Maiwada explained that the platform, designed to simplify baggage declaration for inbound international passengers, aims to reduce manual bottlenecks, improve transparency in revenue assessment and enhance operational efficiency at Nigeria’s international airports.
Speaking at the inauguration ceremony, Deputy Comptroller-General of Customs in charge of ICT/Modernisation, Oluyomi Adebakin, said the deployment of SCADS marked another major step in the service’s digital transformation agenda.
Adebakin said the initiative became necessary to address operational challenges encountered on the service’s previous passenger declaration platform earlier this year.
She explained that rather than allowing the setbacks to slow operations, the service chose to develop a stronger and more efficient alternative.
“When the earlier platform experienced operational challenges, we chose not to see it as a setback.
“We saw it as an opportunity to build something better, stronger and more efficient,” she said.
According to her, the newly introduced SCADS platform allows passengers to declare items before arrival, thereby reducing clearance time while improving compliance and operational integrity.
“For passengers, this system creates the opportunity for advance declaration before arrival. It means faster clearance, easier compliance and smoother movement through our airports,” she added.
Adebakin said that the system would eliminate subjective revenue assessment by ensuring that duties were being automatically generated based on declared items, their quantities and actual values.
“When we talk about revenue collection, it is not about collecting more or less. It is about collecting the right revenue. With this system, assessment will now be more objective, accurate and driven by data,” she said.
Earlier Comptroller Customs Area Controller, FCT Area Command, Victoria Alibo,described the selection of the command for the pilot phase as a vote of confidence in its operational capacity.
Alibo said the new platform integrates passenger baggage and e-commerce declarations into a single digital framework designed to support global Customs best practices.
“SCADS is designed to simplify declarations, reduce clearance time, eliminate manual bottlenecks and align our operations with international standards,” Alibo said.
She said that the pilot phase would run for five days, from May 18 to May 22, during which officers would evaluate the system in a live environment ahead of nationwide deployment.
The event was attended by senior Customs officers, officials of the Federal Airports Authority of Nigeria, partner government agencies, technical teams, and other key stakeholders in Nigeria’s aviation and border management ecosystem.
By: CHINEDU WOSU
Business
Energy Theft, Obsolete Infrastructure Deepen Nigeria’s Electricity Crisis – Expert
Olubiyo, said this in an interview with Newsmen to Monday in Abuja.
He said energy theft occurs at both the consumer and institutional levels across the electricity value chain from generation to transmission and distribution.
According to Olubiyo, at the consumer level electricity theft includes metre bypass, illegal connections and unauthorised access to power without proper billing.
According to him, some customers would dig underground cables directly to their homes or businesses without being metered, while others exploit estimated billing systems to consume electricity without payment.
“Whether through metre bypass or illegal connection, many customers are using electricity for free. That is energy theft,” he said.
He also alleged that institutional energy theft exists within the power sector, particularly through defective, obsolete, or wrongly installed metres used in monitoring electricity generation and distribution.
He said that wholesale metres installed at critical interfaces among generation companies (GenCos), transmission companies, and distribution companies (DisCos) were often out-dated or improperly configured.
He said those could lead to inaccurate readings and inflated subsidy claims.
“If 4,000 megawatts is generated and 7,000 megawatts is recorded, that is energy theft because the excess energy does not get to consumers,” he stated.
The expert further said some operators in the sector allegedly exploit maintenance and repair contracts through inflated contract sums and possible collaboration with vandals.
He also cited the deployment of secure pole-mounted metres in military barracks as an example of how technology can curb metre tampering and unauthorised access.
He, therefore said the sector had to urgently address infrastructure decay, weak regulation, poor investment, and corruption within the value chain.
Otherwise, according to him, Nigeria’s electricity industry will continue to face liquidity challenges, revenue losses and unstable power supply.
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