Business

20 Feb

Blue Economy Blues: Expert Lams Government for Lacking Behind, Urges Overhaul

Esther KomolafeBusiness
A prominent advocate for Nigeria's blue economy has expressed disappointment with the government's slow progress in developing the sector, nearly two years after the creation of the Ministry of Blue Economy. Speaking at an event, the expert emphasized the need for sensitization, advocacy, and investment in research and development to unlock the sector's potential. The blue economy, which encompasses aquatic resources and ecosystems, has the potential to generate significant revenue for Nigeria, rivaling that of customs services. However, the sector is plagued by inefficiencies, corruption, and lack of infrastructure. The expert highlighted several areas for improvement, including: Sensitization and advocacy…
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18 Feb

Tincan Customs Controller Vows to Be ‘Trade Enabler Personified’ as Paperless Regime Looms

Esther KomolafeBusiness
The Area Controller of Tin Can Island Command, Compt Frank Onyeka, has assured stakeholders that the command is ready to implement the Customs paperless operations, scheduled to commence in Q2 2026. Speaking with senior maritime journalists, Comptroller Onyeka emphasized his commitment to facilitating trade, stating "I want to be known as a trade facilitator personified". The command generated N609 billion in revenue last year, with January seeing a N29.9 billion increase compared to the previous year. Onyeka attributed this growth to the command's efforts to enhance trade facilitation and ease of doing business. The paperless regime aims to streamline customs…
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17 Feb

BREAKING: Customs Backs Down, Suspends 20-Fold Licensing Fee Hike Amidst Outrage

Esther KomolafeBusiness
The Nigeria Customs Service has suspended a proposed 20-fold increase in licensing fees for customs agents, following an emergency meeting with the Association of Nigerian Licensed Customs Agents (ANLCA). The fee hike, announced in 2025, would have seen new license fees jump from N515,000 to N10 million, and annual renewal fees increase from N215,000 to N4 million . ANLCA President Emenike Nwokeoji confirmed the suspension, stating that the association had reached a common ground with Customs to maintain the old fee structure. The decision was made during an emergency National Executive Council meeting in Lagos. The proposed hike had sparked…
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14 Feb

Seme Customs Deals Blow to Narcotics Traffickers, Seizes ₦1bn Cocaine, Arrests Suspect

Esther KomolafeBusiness
The Seme Area Command of the Nigeria Customs Service (NCS) has intercepted 25 kilograms of cocaine valued at ₦1 billion, reinforcing its crackdown on narcotics trafficking. The seizure was made on February 10, 2026, by vigilant operatives along the Badagry-Seme axis. Deputy Comptroller-General Timi Bomodi commended the operatives for their professionalism and commitment to duty. The suspect and exhibits have been handed over to the National Drug Law Enforcement Agency (NDLEA) for further investigation and prosecution. Seme Customs Controller Wale Adenuga warned smugglers that the border corridor is a restricted zone, with intensified surveillance and enforcement operations making it hostile…
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14 Feb

Nigeria Customs Service Goes Digital: One-Stop-Shop Platform Launches, Paperless Era Beckons

Esther KomolafeBusiness
The Nigeria Customs Service (NCS) has launched the One-Stop-Shop (OSS) platform, a digital solution aimed at eliminating bureaucratic bottlenecks and reducing cargo clearance time. The platform will centralize risk management and documentation, making trade processes more efficient and transparent. Comptroller-General of Customs, Bashir Adewale Adeniyi, announced that the NCS will go fully paperless by the end of Q2 2026, with the OSS platform being the first step towards this goal. The platform he said , will consolidate valuation, customs processing, intelligence, and enforcement into a single workflow, supported by digital tracking and automated alerts. According to the CGC in his…
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12 Feb

Lagos Free Zone Revolutionizes Trade with Exclusive Green Channel, Slashes Cargo Delays

Esther KomolafeBusiness
The Lagos Free Zone has launched a game-changing Green Channel initiative, allowing containers destined for the zone to be transported directly from the port without delays or bureaucracy. This exclusive facility enables enterprises to receive cargo within 48-72 hours, reducing costs and increasing efficiency. Managing Director Adesuwa Ladoja explained that the Green Channel is a first-of-its-kind facility in Nigeria, providing a seamless and transparent process for cargo movement. The initiative is expected to boost trade, attract investments, and enhance Nigeria's ease of doing business. The Lagos Free Zone has 38 enterprises and can handle 1.2 million TEUs annually. The zone…
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12 Feb

Customs Unveils Green Channel, Paving Way for Seamless Port Operations

Esther KomolafeBusiness
The Nigeria Customs Service (NCS) has launched the Green Channel initiative, aimed at streamlining port operations and reducing the time and cost of doing business. The initiative allows containers to be moved directly from vessels to a dedicated examination area, eliminating delays and inefficiencies. Comptroller-General of Customs, Bashir Adewale Adeniyi, explained that the Green Channel is a result of trust and confidence built with stakeholders, enabling seamless trade facilitation. The initiative is expected to boost revenue, reduce costs, and create a more competitive economy. The Green Channel will operate in designated areas, with containers tracked and monitored online, ensuring transparency…
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09 Feb

NPA , PEBEC Unite to Slash Cargo Dwell Time, Unlock Nigeria’s Economic Potential

Esther KomolafeBusiness
The Nigerian Ports Authority (NPA) and the Presidential Enabling Business Environment Council (PEBEC) have joined forces to streamline port processes and reduce cargo dwell time to 7 days. The three-day high-level stakeholder engagement in Lagos aimed to identify and address operational inefficiencies, with officials observing real-time vessel berthing and cargo clearance operations. PEBEC Director General Zahrah Mustapha emphasized that the initiative will unlock Nigeria's economic potential, creating jobs and driving growth. The NPA's Managing Director, Abubakar Dantsoho, highlighted progress, including the deployment of the Port Community System (PCS) to eliminate manual bottlenecks. The NPA achieved a 100% success rate in…
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09 Feb

Tantita Contract Row: Activist Warns Against Ethnic Politics, Defends Pipeline Surveillance Deal

Esther KomolafeBusiness
A Niger Delta activist, Comrade Preye Tambou, has urged ethnic champions and pressure groups in Delta State to reconsider their opposition to the pipeline surveillance contract awarded to Tantita Security Services Nigeria Limited, warning that ethnic agitation could undermine national security and oil sector gains. Tambou defended the contract, saying it was awarded based on merit and operational competence, not ethnic considerations. He noted that Nigeria's crude oil production has improved significantly since Tantita took over pipeline surveillance duties. The activist cautioned against turning the issue into an ethnic debate, stressing that it breeds division and weakens collective security. He…
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07 Feb

Transparency Triumph: Media Anti-Corruption Initiative Backs FG’s NSW Project Launch

Esther KomolafeBusiness
The Media Anti-Corruption Initiative has expressed strong support for the Federal Government's announcement to launch Phase 1 of the National Single Window (NSW) Project on March 27, 2026, aimed at enhancing transparency and efficiency in trade. The initiative is set to revolutionize business interactions with government agencies, streamlining processes and reducing corruption opportunities. The NSW Project will create a centralized platform for managing trade-related transactions, integrating government services into a single digital interface. This will simplify documentation, expedite approvals, and foster a more accountable business environment, aligning with global best practices in governance and trade facilitation . The project is…
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