Business
NPA Unveils Investment Areas In PH Port
The Nigerian Ports Authority (NPA) Port Harcourt, has unveiled various areas for investment in the Port, following the Government policy for improved Port operation through Private-public partnership for future investment. According to a document from the office of the Port Manager, Mr. T. Alabi, which was made available to The Tide investment areas were categorized into short term, medium term and long term period. In the short term, areas of investment include the Off-Dock Container Terminal which current Port reform has created the need for it to meet the challenges of 24 hours port operations. It explain that private Terminal Operators can likely partner with other investors in this area to achieve a quick turn around time of vessels for optimal productivity. Also in the short term investment plan, haulage business is also considered based on government’s subsidy on the importation of rice by 50 per cent and licenses granted to companies for increase in cement importation to 4.5 million metric tones. This, the document said would encourage massive import or upsurge of the commodities and a positive increase in haulage system for which the private investors would play a pivotal role with a view to accruing revenue. In the medium term investment, Inland Container depot could be developed by future investors to compliment the container stacking in the ports of the Eastern zone, while the Rail system which will be taken up by private investors to reconnect/link the rail lines within the port and environs for massive movement of goods as it is done in other developed countries. The long term investment would boost the development of the Green Field Zone which could serve as the hub centre of trans shipment of goods to the land lock nations within the West and Central African sub-region. But the area opposite the Port Harcourt Hard quay with 100 metres high tide which is swampy could be developed for future jetty operations. The mid stream (Brass LNG) within the Port’s jurisdiction is investors friendly to meet the global requirement of liquefied natural gas, for which the private sector would yield optimal and accruable revenue from oil and gas. Other projection of the document is in the area that will foster employment opportunities and mitigate volatility in the labour market, especially in the Niger Delta region towards sustaining consumer confidence. However, there are also challenges that go with port operations, particularly in the Port Harcourt and Eastern ports generally, and the vision of government in concessioning of ports could be complemented if the challenges are being addressed. Some of the challenges include safety and security along the channels for easy flow of direct investment, the establishment of Nigerian Coast Guard to check the activities of pirates and mid-steam activities, reduction in the bureaucratic procedures, multiple government agencies in Ports, encroachment on NPA land by host communities and the rehabilitation of road and rail network.
Business
Agency Gives Insight Into Its Inspection, Monitoring Operations
Business
BVN Enrolments Rise 6% To 67.8m In 2025 — NIBSS
The Nigeria Inter-Bank Settlement System (NIBSS) has said that Bank Verification Number (BVN) enrolments rose by 6.8 per cent year-on-year to 67.8 million as at December 2025, up from 63.5 million recorded in the corresponding period of 2024.
In a statement published on its website, NIBSS attributed the growth to stronger policy enforcement by the Central Bank of Nigeria (CBN) and the expansion of diaspora enrolment initiatives.
NIBSS noted that the expansion reinforces the BVN system’s central role in Nigeria’s financial inclusion drive and digital identity framework.
Another major driver, the statement said, was the rollout of the Non-Resident Bank Verification Number (NRBVN) initiative, which allows Nigerians in the diaspora to obtain a BVN remotely without physical presence in the country.
A five-year analysis by NIBSS showed consistent growth in BVN enrolments, rising from 51.9 million in 2021 to 56.0 million in 2022, 60.1 million in 2023, 63.5 million in 2024 and 67.8 million by December 2025. The steady increase reflects stronger compliance with biometric identity requirements and improved coverage of the national banking identity system.
However, NIBSS noted that BVN enrolments still lag the total number of active bank accounts, which exceeded 320 million as of March 2025.
The gap, it explained, is largely due to multiple bank accounts linked to single BVNs, as well as customers yet to complete enrolment, despite the progress recorded.
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