Business

Nigerian Shippers’ Council Urges Review of War Risk Insurance Surcharge: ‘Unfair and Outdated’
27 Aug

Nigerian Shippers’ Council Urges Review of War Risk Insurance Surcharge: ‘Unfair and Outdated’

Esther Komolafe0 CommentsBusiness
The Executive Secretary/CEO of the Nigerian Shippers' Council, has delivered a goodwill message at the Maritime Reporters Association of Nigeria (MARAN) Annual Lecture, calling for a review and removal of war risk insurance surcharges imposed on vessels calling at Nigerian ports. The lecture's theme, "Burden of War Risk Insurance Surcharge on Nigerian Maritime Trade – A Case for Review," reflects a critical concern shared by industry stakeholders, government agencies, and economic actors. Despite remarkable progress in maritime security, Nigeria remains unfairly classified as a high-risk shipping zone, attracting exorbitant war risk insurance premiums and surcharges. The Nigerian Shippers' Council has…
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Oyetola Demands End to War Risk Insurance Burden: ‘Unjust and Detrimental to Nigeria’s Economy
27 Aug

Oyetola Demands End to War Risk Insurance Burden: ‘Unjust and Detrimental to Nigeria’s Economy

Esther Komolafe0 CommentsBusiness
The Minister of Marine and Blue Economy, Adegboyega Oyetola, has called for the immediate review and removal of war risk insurance premiums imposed on Nigerian-bound vessels. Speaking at the 3rd Annual Maritime Lecture of the Maritime Reporters Association of Nigeria (MARAN), Oyetola described the surcharge as "outdated, unjust, and detrimental to the nation's economic competitiveness." Oyetola's demand comes on the heels of significant achievements in Nigeria's maritime sector, including: Record revenue generation: Agency-generated revenues more than doubled from ₦700.79 billion in 2023 to ₦1.39 trillion in 2024. Maritime security: Zero piracy incidents recorded in the past four years due to…
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Apapa Command Smashes ₦161bn Revenue Record with B’Odogwu Platform, Comptroller Olomu Pledges Improvement
26 Aug

Apapa Command Smashes ₦161bn Revenue Record with B’Odogwu Platform, Comptroller Olomu Pledges Improvement

Esther Komolafe0 CommentsBusiness
The Apapa Command of the Nigeria Customs Service (NCS) has collected a staggering ₦161,258,483,474.63 in revenue within three weeks using the Unified Customs Management System, also known as B'Odogwu. The Customs Area Controller, Comptroller Babatunde Olomu, has reassured stakeholders that the system will continue to improve and surpass user expectations. Comptroller Olomu commended stakeholders for their patience and understanding, expressing optimism that the B'Odogwu platform will facilitate more trade than previous ICT systems. He attributed the success to the intense stakeholders' engagement championed by the Comptroller-General of Customs, Bashir Adewale Adeniyi, MFR. The Command has initiated dialogue with the Nigerian…
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Former Maritime Workers Union President Brings Joy to NYSC Members with Games and Sports Event
18 Aug

Former Maritime Workers Union President Brings Joy to NYSC Members with Games and Sports Event

Esther Komolafe0 CommentsBusiness
The former President General of the Maritime Workers Union (MWUN) and current Vice President of the Nigeria Labour Congress, Prince Adewale Adeyanju has once again demonstrated his commitment to giving back to the community. Prince Adeyanju the sponsor of the games and sports began the initiative in 2024 and since then been constituent to the self acclaimed assistant. Although he was unavoidably absent to do the donations of cash and medals to the Corps members but was ably represented by the branch treasurer of the Union, Comrade Oluwole Micheal Adetumi . His words:  "On behalf of  Prince Adewale Adeyanju, who…
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MARITIME MASTERMIND: The New Experience Newspaper Celebrates 8 Years of Maritime Excellence with Industry Titans
12 Jun

MARITIME MASTERMIND: The New Experience Newspaper Celebrates 8 Years of Maritime Excellence with Industry Titans

Esther Komolafe0 CommentsBusiness
The New Experience Newspaper is gearing up to celebrate its 8th anniversary in grand style, bringing together the who's who of Nigeria's maritime industry for a spectacular event. Themed "Repositioning Nigeria's Maritime Industry: Challenges, Opportunities, and the Way Forward," the celebration promises to be an unforgettable experience, featuring top-notch keynote addresses, panel discussions, and entertainment. A Night to Remember The event, scheduled for July 24, 2025, at the Sacred Heart Multipurpose Hall in Apapa, Lagos, will be a masterclass in networking, knowledge sharing, and fun. Attendees can expect to rub shoulders with industry leaders, policymakers, and stakeholders, including former ministers,…
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Customs Service Scores Big: N1.285 Billion Worth of Contraband Seized
03 Jun

Customs Service Scores Big: N1.285 Billion Worth of Contraband Seized

Esther Komolafe0 CommentsBusiness
The Federal Operations Unit Zone A of the Nigeria Customs Service has made significant seizures worth N1.285 billion in two weeks, intercepting contrabands including rice, used vehicles, cannabis sativa, and premium motor spirit. Comptroller Mohammed Shuaibu disclosed this during a press briefing, highlighting the unit's renewed vigor in fighting smuggling and criminalities. Seizures: 2,051 bags of 50kg foreign parboiled rice (equivalent to 4 trailer loads) 11 used vehicles (tokumbo vehicles) 1,665kg of cannabis sativa 4,000 liters of premium motor spirit (PMS) Expired goods, new towels, and other contrabands Arrests and Revenue Recovery: 7 suspects arrested in connection with the seizures…
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Customs Foils Smuggling Attempt, Seizes 39,425 Liters of PMS Worth N63.4 Million
30 May

Customs Foils Smuggling Attempt, Seizes 39,425 Liters of PMS Worth N63.4 Million

Esther Komolafe0 CommentsBusiness
The Nigeria Customs Service has made a significant bust, intercepting 1,577 jerrycans of premium motor spirit (PMS) totaling 39,425 liters, with a duty-paid value of N39,425,000. The seized PMS, intended for smuggling to Benin Republic, was confiscated across various flashpoints in Ilaro, Imeko, Badagry, Owode, and Ajilete. Eight vehicles used for conveying the PMS were also seized, with a duty-paid value of N24 million. The cumulative value of the seized goods stands at N63,425,000. Key Highlights Seized PMS:* 39,425 liters of PMS, valued at N39,425,000 Vehicles:* 8 vehicles seized, valued at N24 million Total Value:* N63,425,000 Auction: The seized PMS…
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Africa’s Maritime Sector Poised for Green Shipping Revolution
19 Mar

Africa’s Maritime Sector Poised for Green Shipping Revolution

Esther Komolafe0 CommentsBusiness
Nigeria's Minister of Marine and Blue Economy, Adegboyega Oyetola, has urged maritime stakeholders across Africa to harness the continent's renewable energy potential to become a global leader in green shipping. Oyetola made this call at the maiden Africa Strategic Summit on Shipping Decarbonization in Abuja, emphasizing that Africa must assert its presence and safeguard its interests as the International Maritime Organization (IMO) advances efforts to adopt the Greenhouse Gas (GHG) Emissions Reduction Strategy. Dr. Dayo Mobereola, Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), echoed Oyetola's sentiments, stressing that Africa must prioritize sustainable and responsible maritime practices…
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A Shining Star Extinguished: Tribute to Barrister Sebastian Ukegheson, a Man of Unwavering Faith and Conviction
21 Feb

A Shining Star Extinguished: Tribute to Barrister Sebastian Ukegheson, a Man of Unwavering Faith and Conviction

Esther Komolafe0 CommentsBusiness
As the world bids farewell to Barrister Sebastian Ukegheson, his friend and boss, Barrister John Komolafe, remembers him as a man of strong conviction, implicit faith in God, and unparalleled passion for law, God, and political activism. Despite battling cancer, Ukegheson never lost hope, and his positivity was inspiring to all who knew him. Komolafe, Managing Partner of Stella Maris Solicitors LLP, described Ukegheson as one of the law firm's brightest stars, exceptional in his brilliance, and an excellent team player. Barrister John Komolafe, Owner/Managing Partner, Stella Maris Solicitors LLP, London His dedication to his work, despite his health challenges,…
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NIMASA Boosts Surveillance and Revenue Generation with C4i Integration
21 Feb

NIMASA Boosts Surveillance and Revenue Generation with C4i Integration

Esther Komolafe0 CommentsBusiness
The Nigerian Maritime Administration and Safety Agency (NIMASA) has taken a significant step towards enhancing its internal processes for optimal performance. The Surveillance Unit of the Shipping Development Department has been granted single-user access to the Windward tool of the C4i intelligence system, a critical component of the Deep Blue Project . This development marks a strategic move to bolster surveillance, improve maritime security, and block revenue leakages. By leveraging advanced technology, NIMASA aims to strengthen intelligence gathering, improve maritime surveillance, and ensure a more efficient and transparent system. Under the leadership of Dr. Dayo Mobereola, NIMASA has reiterated its…
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