Business
Nigeria Controls West, Central Africa Economies -Council
The third Annual Maritime Conference holding in Lagos has unveiled that Nigeria controls 70 per cent of the economies of West and Central Africa.
The conference with the theme, ” Port Costs and Ports Charges: A Recurring Decimal under Port Reform Regime”, was held in honour of Dr. Taiwo Afolabi, group executive and vice chairman, SIFAX Terminal, in Lagos, at the weekend.
The Chairman, Nigerian Ports Consultative Council (PCC), Chief Kunle Folarin, who is also a maritime economist, said Nigerian dominance was far from the formal trade alone and would certainly be bigger if “we consider the informal trade aspects of cargo movements”.
He said that ships’ traffic into Nigeria by latest data was over 5,307 units per annum.
“The potential is certainly bigger when we consider the capacity of cargo traffic to Nigeria’s landlocked neighbours such as Niger Republic and Chad.
“In the real terms, over 85 per cent by value of all the goods and services that entered Nigeria came through the seaports.
“The current aggregate value exceeds $15 billion a year through normal import order. Nigeria also imports over two million tonnes of non-oil cargo yearly.
“It is therefore, no doubt that the maritime sector’s performance is indeed a major contributor to the economy and must be given attention when discussing port costs and port charges.”
He recalled that the available port infrastructure in the 1970s could not handle more than 12 vessels at a time in Apapa Port Complex, which resulted to long queue of ships waiting to berth.
Folarin said that in 1970, ship owners incurred huge running cost and this led to demurrage as a result of penalties put in place by the chartered parties.
He said that the port cost and charges reform policy of the Federal Government started in 1993 by the ministry of Finance apparently to address the issue of rising costs in the delivery of port services and several others.
The PCC boss said port concession system started in 2006 by transferring operations of public sector activities to private sector to improve productivity and achieve competiveness at the ports.
He said that there was need for port industry to be truly productive, competitive and earn a hub status in the region, adding that otherwise, Nigerian ports would continue to perform at best a little above average.
In a keynote, Afolabi, who was represented by his daughter, Miss Mariam Afolabi, noted that the current exchange rate of Naira to dollar was making port activities more expensive.
“Many of the obligations of terminal operators are expected to be discharged in dollars and how much naira will be enough today to purchase the required dollars , ” he asked.
“So many questions are seeking answers. These are matters of immediate and practical concerns to every Nigerian and the regulatory authorities,” Afolabi said.
In his remarks, a former Managing Director of the Nigerian Ports Authority (NPA), Chief Adebayo Sarumi, said that government should not run port operations which he explained was indeed a business for the private sector.
Business
USTR Criticises Nigeria’s Import Ban On Agriculture, Others
The United States Trade Representative (USTR) has criticised Nigeria’s import ban on 25 categories of goods, claiming that the restrictions limit market access for American exporters.
This is the effect of President Donald Trump’s tariffs introduction on goods entering the United States, with Nigeria facing a 14 per cent duty.
The USTR highlighted the impact of Nigeria’s import ban on various sectors, particularly agriculture, pharmaceuticals, beverages, and consumer goods.
The restrictions affect items such as beef, pork, poultry, fruit juices, medicaments, and alcoholic beverages, which the United States sees as significant barriers to trade.
The agency argues that these limitations reduce export opportunities for United States businesses and lead to lost revenue.
“Nigeria’s import ban on 25 different product categories impacts United States exporters, particularly in agriculture, pharmaceuticals, beverages, and consumer goods.
“Restrictions on items like beef, pork, poultry, fruit juices, medicaments, and spirits limit United States market access and reduce export opportunities.
“These policies create significant trade barriers that lead to lost revenue for United States businesses looking to expand in the Nigerian market”, the agency said .
In 2016, Nigeria implemented the ban on these 25 items as part of efforts to control imports and stimulate local production.
Some of the banned items include poultry, pork, refined vegetable oil, sugar, cocoa products, spaghetti, beer, and certain medicines.
On March 26, 2025, the Federal Government also announced plans to halt solar panel imports to encourage local manufacturing as part of its push for clean energy.
Business
Expert Seeks Cooperative-Driven Investments In Agriculture
A leading agribusiness strategist and digital agriculture expert, Ayo Oluwa Okediji, has sought cooperative-driven investments in sustaining growth of poultry industry in Nigeria.
He said the poultry industry was at a defining moment and requires urgent structural reforms to secure its future and ensure long-term sustainability.
Speaking on the theme, “Strengthening Poultry Farming Through Cooperative Synergy and Strategic Investments”, at the recently concluded Oyo Mega Poultry Workshop 2025 in Ibadan, Okediji called on poultry farmers, cooperative leaders, financial institutions and policy makers to rethink the existing structure of the poultry sector.
He stressed the need to transition from fragmented, individually-driven operations to well-structured, cooperative-led enterprises capable of attracting sustainable financing and securing long-term viability.
He said, “Our poultry sector cannot thrive on individual effort alone. We need to organise ourselves into cooperative clusters, build strong governance systems and position ourselves to attract the level of investment needed to sustain this industry beyond this generation.”
Drawing on lessons from successful global cooperative models such as Rabobank in the Netherlands and Landus Cooperative in the United States, Okediji introduced the FarmClusters Poultry Model, a locally adapted solution developed by Agribusiness Dynamics Technology Limited (AgDyna), a subsidiary of AgroInfoTech Africa.
According to him, the model is currently being piloted in Oyo State in partnership with PANOY Agribusiness Limited and local poultry cooperatives.
Business
NACCIMA Proposes Hybrid Oil Palm Seedlings For Farmers
The Rivers State Representative of the Nigeria Chambers of Commerce, Mines, Industries and Agriculture (NACCIMA), Mr. Erasmus Chukwundah, has urged palm oil farmers to consider hybrid seedlings for planting, if they must break even in palm oil business.
Chukwundah said this recently at the Free Oil Palm Business Climate Smart Best Management Practice/Assistance Training organized by Partnership Initiative In Niger Delta (PIND) for Palm Oil Farmers in Elele, Ikwerre Local Government Area.
The Rivers representative said until palm oil farmers begin to consider such hybrid oil palm seedlings, they may not meet up with the daily increasing demand of palm oil in the market.
According to him, the seedlings produce up to 30 bunches at once that ripen same time.
He said PIND decided to partner with Oil Palm Growers Association of Nigeria (OPGAN) to ensure that the message was received by the targeted audience.
According to him, palm oil remained a popular choice of industry operators as it could be converted to many other products such as vegetable cooking oil.
He also noted that products such as motor tyers, marine ropes and others are now gotten from the palm tree.
Chukwundah, who is the immediate past Director-General of Port Harcourt Chamber of Commerce, Mines, Industries, and Agriculture (PHCCIMA), further warned against use of unrecommended fertilisers in growing oil palms.
He noted that such practices could limit its export value or chances as the foreign marketers have a way of detecting such .
He reiterated the need for organic fertilizers, including poultry droppings, to enable them have a natural palm oil.
“People must reduce physical contact with palm oil production. That is why we are campaigning for hydrolic oil mills. The foreign markets are no longer interested in crude method of palm oil production”, he said.
Meanwhile, one of the farmers, Sonny Didia, who appreciated Chukwundah’s commitment towards the concern of farmers, appealed for an urgent need for loan opportunity with low interest rate in order to enable them beat the target.
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