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Vessels Above 232.33 Meters Now Visit Nigerian Ports-NPA

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Larger vessels of above 232.33 meters with capacity of 4,500 TEUS requiring draught of 13.5 meters have started visiting the Nation’s seaports, according to third quarter report 2013 channel management, cargo throughput, ship and gross tons report made available to Nigeria CommunicationsWeek by the Nigerian Ports Authority (NPA).

NPA said that the development has provided shipping companies with a high level of efficiency and economic space which has enhanced their turnover and turnaround time.

Generally, stakeholders and shipping companies have confirmed that the channel management and conservancy function of the Authority has continued to improve.

The Analysis showed that most of the ports recorded increase in the Gross Registered Tonnage mainly due to the constant capital and maintenance dredging of the channels at the nation’s ports by the Lagos Channel Management (LCM) and Bonny channel management companies.

Habib Abdullahi, managing director of NPA, said that: “The Volume dredged from 2006 to date by the LCM is 53,583,546m3 while a total of 24 numbers of critical wrecks have been removed.. This provides shipping companies the economy of space, which enhances their turnover.

“The Volume dredged by BCC from 2006 to date is 43,537,000m3 while 14 Wrecks has been removed.

“Bonny channel from its previous 12.50 meters draught has been deepened to its present 14.30 meters increased its width from 215 meters to 230 meters.

“The successful wreck removal campaign being undertaken by   the Authority also ensured safe navigation of vessels and protection of marine environment amongst other economic benefits”.

He added that Port reforms has resulted in healthy competition as there has been an  intensified effort by the terminal operators to procure cargo handling equipment and upgrade  of the various terminals while the Authority has continued   to provide common user facilities needed to improve port operations.

Ship And Gross Tons Index

Apart from crude oil terminals, 1,366 ocean going vessels with a total Gross Registered Tonnage (GRT) of 34,640,530 gross tons called at Nigerian Ports in the 3rd Quarter of this year (2013).

Lagos Port Complex (LPC) recorded a GRT of 9,263,180 gross tons showing an increase of 12.3 per cent over the 3rd quarter of 2012 figure 8,250,315 gross tons while 369 ocean going vessels were handled at the Port within the period.

 Rivers Port complex recorded a total GRT of 1,371,846 gross tons, reflecting a decrease of 11.2 per cent as against 1,526,002 achieved in the 3rd quarter of 2012, with 108Ocean going vessels at the end of the 3rd quarter.

The  Onne Port complex recorded a Gross registered tonnage of 9,709,984 gross tons, 15.7 per cent decline compared with 11,238,781 gross tons, leaving the port with 219 ocean going vessels in the period under review.

Calabar Port complex recorded a GRT of 751,553 gross tons showing a growth of 15 per cent over 653, 077 recorded in the corresponding period of 2012. It also handled 35 vessels within the period under review.

In a related development, the Delta Port Complex handled a GRT of 2,346,612 showing an increase of 184 per cent over the 2012 3rd quarter figure of 823,595 gross tons, with 94 vessels handled.

Cargo Throughput

Meanwhile, cargo throughput of 19,849,258 million metric tonnes of cargo was handled showing an increase 2.6% over the 2012 3rd quarter figure of 19,340,901 Million metric tonnes   excluding crude oil terminals.

Available statistics shows that the containerized   cargo throughput handled amounted to 3,559,453 million metric tonnes, “showing an increase of 12.3per cent over the 2012 3rd quarter figure of 3,168,412million metric tonnes”.

The total Liquefied Natural Gas (LNG) shipment handled in the period under review amounted to 4,859,453 million MT showing a decrease of 20per cent from the 2012 3rd quarter figure of 5,828,281MT.

“The Refined Petroleum shipment handled was 4,804,184MT showing a growth of 24 per cent over the 3rd quarter of 2012 figure of 3,869,923MT.

“A total of 76,598 units of Vehicles were handled in the period under review showing an increase of 13 per cent over the same period of 2012 figure of 67,804 units

“Dry Bulk cargo handled at the Ports in the 3rd quarter of 2013 amounted to 2,585,902 MT”.

General Cargo handled at the ports in the 3rd quarter of 2013 amounted to 2,977,347MT indicating a decline of 16 per cent from the 2012 3rd quarter figure of 3,466,311MT.

Thus, reports from the quarterly update of information of developments at the different terminals “indicate appreciable facility upgrades and acquisition of State of the Art container handling equipment by the terminal operators which ensured quick container handling operations and reduced cargo dwell time.

NPA added that its recent research revealed that generally each port is being shaped by the market forces dictated by the commodity demand and by the particular port user.

“Import in Onne for general cargo has since reduced by 30 per cent in total throughput but has been largely compensated for an increase of 60 per cent of gas.

“Lagos port complex is the only port that has maintained its traditional cargo morphology but with bias for containerization as palletized cargo is gradually giving way to this new global trend.

“Between 2003- till date Nigerian Ports Authority ports have experienced about 115 per cent growth. A close examination on this progress show that we do not handle transhipment and transit cargo, all cargoes are captive and Nigeria destined.

“It therefore shows that petroleum product liberalization, growth in Gross domestic product (GDP) and the transformation agenda resulting in increase in construction works have had an unprecedented economic impact on the port industry.

“Also the consistent effort by the Nigerian Ports Authority in fulfilling its obligation on one part and the terminal operators on another and with the provision of enabling environment by the Federal Government of Nigeria under Dr Goodluck Jonathan will further encourage investors’ confidence in the Port sector”.

It is pertinent to note that the improvements have continued to be sustained as reflected on the parameters when compared to same period in 2012.

 


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EFCC Detains Ayeni, Ex-Skye Bank Chairman over Alleged N36.5Bn, $30m Fraud

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Economic and Financial Crimes Commission (EFCC), has detained Tunde Ayeni, former chairman of defunct Skye Bank Plc, for alleged fraud involving N36.5 billion and $30 million.

EFCC Detains Ayeni, Ex-Skye Bank Chairman over Alleged N36.5Bn, $30m Fraud

Tunde Ayeni, former chairman of defunct Skye Bank Plc,

This follows the probe of alleged diversion of N36.5 billion and $30 million secured as loans from Polaris Bank Plc through companies linked to Ayeni.

He was arrested by EFCC operatives in Abuja on April 23, 2026, and is still been held in custody as at the time of filling the report.

Dele Oyewale, spokesperson, EFCC, confirmed the arrest on Friday but declined to provide further details.

Ayeni is under investigation for diverting funds obtained for marine security, electricity distribution, and real estate projects into other unknown projects.

Investigators allege the loans were instead channelled into telecom investments tied to NITEL/MTEL assets via a NATCOM account.

About 12 firms believed to be connected to Ayeni are also under investigation for their role in securing the loans.

The EFCC is expected to file charges once the investigation is concluded.


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Summit Factory Opens in Ogun, Targets Hygiene Market Expansion

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L-r: Sadiq Ali, General Manager, Summit Household Solutions Limited; Oba Abdulakeem Odunaro, Onikotun of Otun, Ota; Hon. Wasiu Adewale Lawal (FCA), Executive Chairman of Ado-Odo/Ota LGA; Mr Kehinde Akintomide, Permanent Secretary, Ministry of Commerce, Trade and Investment, Ogun State; and Mojeed Maaradesa, Manufacturing Manager, during the commissioning of the ultra-modern factory by Summit Household Solutions Limited in Ota on Thursday.
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Summit Household Solutions Limited has opened its ultra-modern manufacturing facility in Ota, Ogun State, as part of its efforts to scale production of home and personal care products in Nigeria.

The plant, which started operations in April 2025, produces items such as dishwashing liquids, handwash, sanitisers and multipurpose liquid soaps, with an annual capacity estimated at 7,000 tonnes.

Commissioning the facility on behalf of Governor Dapo Abiodun, the Permanent Secretary, Ministry of Commerce, Trade and Investment, Mr Kehinde Akintomide, said the investment reflects growing confidence in Ogun State’s business environment.

He noted that the state hosts over 6,000 manufacturing firms and described the development as consistent with ongoing efforts to promote industrialisation, attract investment and reduce reliance on imports under the Federal Government’s Renewed Hope initiative.

Akintomide disclosed that the factory has already employed more than 50 Nigerians, with projections to exceed 250 jobs as operations expand.

In his remarks, the General Manager of the company, Mr Sadiq Ali, said the facility represents a major step in Summit’s growth plans, adding that its flagship brand, 2Sure, currently leads production at the plant.

He also revealed that the company is preparing to introduce new home and personal care products later this year.

Summit Household Solutions manufactures the 2Sure brand and has expanded into the personal care segment with Lewar, a premium beauty soap line positioned for quality and affordability.

Among dignitaries present were the Onikotun of Otun, Ota, Oba Abdulakeem Odunaro, representing the Olota of Ota, Prof. Adeyemi Abdulkabir Obalanlege; the Agba Akin of Ota, Chief Dada Olusola; Director of Investment, Ms Yemisi Folarin; Director of Industrial Promotion, Mr Femi Adeboye; former Managing Director of 7Up Bottling Company, Mr Ziad Maalouf; and the Chief Executive Officer of OmniRetail, Mr Deepanker Rustagi.

Speaking at the event, Maalouf, who conceived the 2Sure brand during his time at 7Up Bottling Company, expressed satisfaction with its growth and commended Summit Solutions Limited for advancing the brand.

The special guests were conducted around the facility, and the programme was concluded with a luncheon.

 


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US Freezes $344m in Crypto Linked to Iran in Major Crackdown

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The administration of Donald Trump has frozen $344 million in cryptocurrency allegedly linked to Iran, marking a sharp escalation in financial pressure on Tehran.

US Freezes $344m in Crypto Linked to Iran in Major Crackdown

The move comes amid stalled diplomatic efforts and a fragile ceasefire in the region.

U.S. Treasury Secretary Scott Bessent confirmed that authorities are sanctioning multiple crypto wallets tied to Iran. “We will follow the money that Tehran is desperately attempting to move outside of the country and target all financial lifelines tied to the regime,” he said.

Tether, which facilitated the transactions, said it worked with U.S. authorities to freeze the funds across two wallet addresses after receiving intelligence linked to unlawful activity.

A U.S. official said blockchain analysis revealed “material links” to the Iranian regime, including transactions routed through intermediary addresses connected to wallets associated with the Central Bank of Iran.

Responding to the development, Tether CEO Paolo Ardoino said the company does not tolerate illicit use of its stablecoin. “USD₮ is not a safe haven for illegal activity. When there is credible linkage to sanctioned entities or criminal networks, we act immediately,” he stated.

The crackdown underscores the growing reliance of sanctioned states on digital assets to bypass traditional banking restrictions. Data from Chainalysis shows Iran’s cryptocurrency holdings reached $7.8 billion in 2025, with the Islamic Revolutionary Guard Corps reportedly controlling about half.

Analysts say while the freeze is significant, Iran has historically adapted to sanctions. Daniel Tannebaum of the Atlantic Council noted that targeting third-party actors enabling such transactions may be key to increasing pressure.


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