A firm, Fortune Global Shipping and Logistics Limited, said it has concluded plans to unveil an excellent and cost-effective logistics solution for oil and gas logistics, project cargo, customs clearance, consolidation, and construction, among others, in Lagos State.
Announcing this in a statement on Friday, the company said the initiative would be unveiled during the 2025 Sub-Saharan Africa International Petroleum Exhibition and Conference.
It stated that the event is billed to take place in Lagos this week.
SAIPEC is an annual global event which focuses on harnessing a sustainable African energy industry through partnerships.
Fortune Global explained that the exhibition promises to engage with other key industry stakeholders, decision-makers, and experts across Sub-Saharan Africa’s energy supply and value chain.
“We invite you to experience more and find out about Fortune Global’s latest innovations in oil and gas logistics. Connect with Fortune Global Shipping and Logistics Limited at the Exhibition Booth N21, Eko Convention Centre, in Lagos”, the statement stated.

Nigeria remains the largest economy in Africa going by Gross Domestic Product (GDP), in spite of the challenges faced by yhe country’s private sector.
World Bank’s Country Director for Nigeria, Dr. Ndiame Diop, who confirmed this at the Country Private Sector Diagnostic (CPSD) and Stakeholder Engagement in Abuja, Friday, said while Nigeria receives far less Foreign Direct Investment (FDI) than its potential warrants, especially in comparison to countries like Indonesia and South Africa, it continues to hold its position as Africa’s biggest economy.
He said the CPSD report, set to be released in the coming weeks, will reveal the impact of private sector constraints on economic growth.
Diop noted that if targeted actions were taken to remove these obstacles, Nigeria’s economic potential would be significantly enhanced.
He explained that the current macroeconomic reforms have created a favourable environment for such changes.
He cited the country’s recent economic stabilization measures, particularly exchange rate market adjustments and improved access to foreign exchange, as critical steps that have already enhanced investment conditions.
The Country Director outlined four key sectors where strategic reforms could unlock massive investment and job creation.
He stayed that in the Information Communication Technology (ICT) sector, investment opportunities worth up to $4 billion could be realized, potentially creating more than 200,000 jobs.
In agribusiness, reforms could unlock $6 billion in investment and generate over 275,000 jobs.
The solar photovoltaic (PV) industry holds the potential for $8.5 billion in investment and more than 129,000 jobs, while the pharmaceutical sector could attract $1.6 billion and create more than 30,000 to 40,000 jobs.
For the ICT sector, he identified the high, unpredictable, and inconsistent right-of-way fees, levies, and informal charges, comprising 30 to 70 per cent of broadband rollout costs, as a major barrier.
According to him, addressing these regulatory inconsistencies would be a game-changer for broadband expansion.
He acknowledged that the National Economic Council has recognized this issue and that progress is being made through a World Bank-supported initiative.
He also noted challenges such as vandalism, limited financing for rural broadband expansion, and the need for competitive access to wholesale fiber.
Dr. Diop further noted that efforts are underway in collaboration with government agencies to resolve these issues, and the World Bank, the International Finance Corporation (IFC), and private investors are prepared to support broadband infrastructure development.
On solar power, Diop described Nigeria’s energy sector as difficult but noted that renewable energy access, particularly solar PV, has been a bright spot.
He explained that private sector investment in renewable energy has historically been hindered by high costs and unviable tariffs.
However, blended finance mechanisms supported by the World Bank and IFC have helped bridge this gap, making off-grid solutions more viable.
He noted the DES project, which aims to connect 17.5 million households and businesses to solar power, as evidence of growing private sector interest.
While the solar industry is expanding, he stressed that reforms to improve Nigeria’s grid electricity supply remain crucial for industrialization.
On her part, the Regional Director for Central Africa and Anglophone West Africa at the IFC, Dr. Dahlia Khalifa, stressed the importance of consistency in regulatory policies, particularly in customs duties and revenue agency fees.
She noted that unpredictability discourages private sector investment, as businesses rely on stable regulatory environments for strategic planning.

The Manufacturers Association of Nigeria (MAN) has warned the Federal Government against further increase in electricity tariff.
It also asked the government to commission a review of the performance of the DisCos after the last “unwarranted increase”.
The Tide’s source reports that the government had addressed recent reports regarding a potential 65% increase in electricity tariffs.
Special Adviser to the President on Energy, Olu Verheijen, emphasised that the reports misrepresented her earlier statements and clarified that while tariffs currently cover approximately 65% of the actual cost of electricity supply, the government remains committed to ensuring fair pricing without imposing immediate hikes.
Verheijen was quoted as saying during the Mission 300 Energy Summit in Dar es Salaam, Tanzania, that the current power tariffs would rise by about two-thirds.
She was further quoted as saying Nigeria’s power prices need to rise by about two-thirds for many customers in order to reflect the cost of supplying it, adding that an increase should be expected within months.
But the Director-General of MAN, Segun Ajayi-Kadir, in a statement on Thursday, warned against the planned increase in electricity tariff, saying it will further exacerbate the impact of high cost of production, worsen the current inflationary pressure and aggravate the pressure on the disposable income of the average Nigerian.
“The proposed increase in electricity tariff is inimical to the competitiveness of Nigerian products and businesses as it will further exacerbate the impact of high cost of production, worsen the current inflationary pressure, aggravate the pressure on the disposable income of the average Nigerian, increase the unsold inventory of manufacturers, erode their profit margin, increase unemployment rate and lead to closure of more private businesses.
“The persistent increase in tariff means that consumers will continue to bear the brunt of the inefficiency in the electricity value chain.
“As it stands, manufacturers are disadvantaged as the increase cannot be transferred to consumers who are currently battling with low purchasing power”, the MAN boss stated.
Ajayi-Kadir said he’s not certain that the Federal Government has reached the conclusion that electricity tariff would be increased, saying “I hope not.”
He asked the government to commission a review of the performance of the DisCos after the last increase which he tagged “unwarranted”.
The DG also asked government to conduct a study on the impact of the increase on the manufacturing sector in particular, and businesses and households in general.
“Sincerely and critically interrogate the so-called cost reflective tariff template of the DisCos, and audit their level of commitment to investment in distribution infrastructure”, he said.
The association reiterated his call for increase in electricity supply from “the abysmal average of 4,000MW of electricity per day for over 200 million people”, saying Nigeria needs “more than 30,000MW of electricity to appreciably meet the growing electricity demands by businesses and households in the country”.