General News
Perishable Cargo Exporters Loss N100m, Seek Probe of Incidents
Exporters of perishable cargo/vegetable have lost a whooping N100 million due to government’s closure of export warehouses of the Nigerian Aviation Handling Company (NAHCO) and the Skyway Aviation Handling Company (SAHCOL) at the Murtala Muhammed International Airport, Lagos.
The warehouse was shut last week by officials of the Federal Operations Unit of Nigerian Customs Service following a tip off that the bonded facilities housed stolen and prohibited items meant for exportation.
This is just as they have stated that government’s closure of the export sheds at the Murtala Muhammed Airport Lagos is sending wrong signals to the comity of international agro-allied supply chain, which portends grave danger for the economy’s agro-allied produce, if not curtailed.
Speaking to journalists in Lagos, Captain John Okakpu, chief executive officer of ABX World, said the agro-allied exporters numbering over one hundred are worried that such incident is tantamount to economic loss.
He said international off-takers are developing cold-feet with regard to agricultural produce from Nigeria.
Captain Okakpu, who said the exporters lost over N100million worth of goods within 48-hours the export warehouses were shut.
He called on the Federal Government through the various Ministries, Departments and Agencies (MDAs) to urgently commence full-scale investigations into the immediate and remote causes of the warehouses closure to avoid re-occurrence.
He said with government’s focus on agriculture as one of the panaceas to the rising inflation, restrictions in capital flows and depleting forex reserves, agro-allied exporters deserve protection as partners.
The warehouse was re-opened last Wednesday.
He said: “Gentlemen, the truth is, we have made fundamental mistakes in the past as a nation by becoming a mono-economy. But, we cannot continue to lick the wounds. We have to reverse the case and agriculture provides us with a better option to grow. That is why as agro-allied exporters, we are seriously worried over the actions of some government officials, who seem not to underestimate the peculiarities of perishable items for export.
“Shutting down the warehouses was actually an indictment on customs, as they (Customs officials) ought to have carried out surveillance before shutting down all export businesses at the Lagos Airport. If such act is not checkmated in future it will compound issues and create a logjam in the system. Or, do we prefer to ship our cargos to countries like Ghana or Cameroun before we can be shipped to Europe and other markets? Presently, the yam sold in Europe as Ghana yams are actually from Nigeria!
“Go and investigate it! Because we seemingly abandoned our God-given potentials ‘to lick oil’, see how the economy has been battered. We wouldn’t want the issues surrounding brown beans and other agricultural produce from Nigeria, to happen to vegetables and other perishables like ginger, garlic, Nsukka-yellow pepper, among others. That is why we are calling on the Federal Government to urgently investigate the matter and punch who ever are the culprits to serve as deterrent to others. So, as Professor Yemi Osibanjo was inaugurating the new agric road map, those warehouses have been shut. What an irony. Enough is enough!”, he said.
He said any action contradicting Federal Government’s agricultural road map launched by the Vice President, Professor Yemi Osinbajo recently should not be treated with levity.
Supporting Captain Okakpu’s claims, the President, Nigeria Vegetable Exporters Association, Mrs. Oluwatoyin Temitope, said that her company alone lost over N1million worth of cargo within 24-hours of the export shed closure.
She lamented the widespread impact on the Association’s members numbering over 20. She said, “It was a devastating day for us. We work at night so that as early as 6:00am our partner airline Arik Air would ship the vegetables. So, when the news got to us that customs have shut down both NAHCO and SAHCOL export shed my blood pressure shoot up.
“I have been on this business for over 30 years; exporting vegetables to South Africa and London almost every week. Unfortunately, the Customs Service and some other government agencies do not have regard for us. They do not any way intimate us before embarking on any clamp down. They know who are engaging in illegal businesses. Ask them, who cleared the items in the first place! In countries like Uganda and Ghana, vegetable/perishable goods exporters are accorded special attention; why is our different?”
Mrs. Temitope said that the Association members merit to be compensated by the government hence they are legitimately contributing their quota to the development of the economy.
“Most of us do take bank facilities, so when occasions like this occur you can imagine how difficult it becomes for us to meet up with the demands. Aside that, there are other markets offering more conducive environment; the principal reason most exporters now prefer Ghana to Nigeria. Customs have arrogated powers to themselves to the extent armored tanks were sent to the airport in hunt of illegal exporters whereas no items goes out of Nigeria without passing through Customs clearance. In fact, it should be investigated properly, maybe some secret or unknown forces sabotaging the county will be uncovered”, she added.
Also, Veronica Ezigbo, managing director of Kiverlin Foods said that the incident should be thoroughly investigated, citing the impact as a negation of President Muhammadu Buhari’s change mantra.
She said, “The impact is very huge, because we deal on perishable goods. We are ordinary citizens of this country and do not deserve this kind of treatment. Customs officials know the people they are searching for, where and how to catch them. They acted ignorantly, because our line of business is very competitive; if you fail to deliver within few hours the vegetables get damaged too.
“Think of it, our dear country is faced forex challenges. Is it not common sense that exporters should be encouraged? It takes a lot of stress to conduct this business, especially when Government no financial facility for us. We demand that this matter should not be swept under the carpet. If Nigeria will move forward, if we are sincere about agriculture, then, special recognition should be given to exporters like us”.
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Federal government has launched Credit for Laptops, Internet, Connectivity and Knowledge Digital Devices (C.L.I.C.K.D.), a new consumer credit initiative, to provide affordable financing for locally assembled laptops and other digital devices.
L-R: Mr Uzoma Nwagba, managing director and chief executive officer, CREDICORP, and Dr Bosun Tijani, minister of Communications, Innovation and Digital Economy, at the launch
The initiative by the Nigerian Consumer Credit Corporation (CREDICORP) and the Federal Ministry of Communications, Innovation and Digital Economy, is aimed at equipping Nigerians with the tools needed to participate in the country’s growing digital economy.
During the launch, Dr Bosun Tijani, minister of Communications, Innovation and Digital Economy, described access to credit as critical to improving productivity and driving economic growth.
Dr Tijani said no nation could achieve sustainable development without a strong credit system that enables individuals and businesses to access resources needed to become more productive.
He noted that in today’s digital age, technology has become indispensable for education, innovation and wealth creation.
The minister explained that many talented young Nigerians possess the skills required to succeed in the digital economy but remain constrained by their inability to own computers and other digital tools.
Drawing from his personal experience, Dr Tijani recalled how his first laptop as a student in the university opened doors to international opportunities and eventually inspired him to establish one of Nigeria’s pioneering technology hubs.
He said the new programme would ensure that more young Nigerians are not denied similar opportunities because of financial barriers.
According to him, the initiative aligns with President Bola Tinubu’s vision of building a one-trillion-dollar economy by expanding access to technology, boosting productivity and supporting local manufacturing.
Mr Uzoma Nwagba, managing director and chief executive officer, CREDICORP, described the programme as a strategic investment in Nigeria’s future workforce and digital transformation.
Mr Nwagba said that while improvements in internet connectivity and digital skills training have positioned Nigeria for the Fourth Industrial Revolution, access to devices remains a major challenge preventing many young people from fully participating in the digital economy.
He explained that C.L.I.C.K.D. would bridge that gap by providing affordable consumer credit that enables beneficiaries to acquire laptops and other internet-enabled devices while they develop in-demand digital skills
Federal Government has announced the disbursement of about N333 billion to eight electricity generation companies (GenCos) as part of measures to resolve outstanding debts in the power sector.
The government also disclosed the issuance of a second bond valued at N729 billion to settle verified legacy obligations and improve liquidity within the Nigerian Electricity Supply Industry (NESI).
The disclosures were made on Tuesday at an investors’ forum organised by the Nigerian Bulk Electricity Trading (NBET) Plc in Abuja.
Government representatives said the latest bond issuance marked the completion of the initial phase of the Presidential Power Sector Debt Reduction Programme, which was designed to address verified liabilities and attract private sector investment across the electricity value chain.
The Special Adviser to the President on Energy, Mrs Olu Verheijen, said the implementation of the first series of the programme demonstrated the administration’s commitment to meeting its financial obligations and improving investor confidence.
Verheijen disclosed that the Federal Government in February 2026 allocated about N501 billion under the first tranche of the programme, comprising N300 billion in cash and N201 billion in non-cash bond instruments to offset verified debts owed to power producers.
She said N333 billion had so far been disbursed to eight participating GenCos operating 17 power plants.
According to her, the government also paid the first coupon of about N63.5 billion on the seven-year bond in full on July 14, 2026.
She explained that the payments had enabled generation companies to meet critical obligations to gas suppliers, lenders and operations and maintenance contractors, thereby improving their operational capacity.
“Markets do not reward promises; they reward performance. Capital follows credibility,” Verheijen said.
She added that the second bond series would further strengthen liquidity in the electricity market and create a more stable financial environment capable of attracting long-term private investment.
The Presidential Power Sector Debt Reduction Programme is part of broader Federal Government efforts to address challenges affecting electricity generation, distribution and investment in Nigeria’s power sector.
Federal government has launched a N482.4 million investment fund to support 12 tech-enabled Nigerian startups.
The initiative under the federal government of Nigeria’s Investment in Digital and Creative Enterprises (iDICE) Programme was implemented by the Bank of Industry (BoI).
The initiative in a statement said applications have been opened for Growth Lab, a 12-week acceleration programme that will select the 12 tech-enabled Nigerian startups, from the six geopolitical zones, for intensive growth support, investment readiness training, and access to up to $350,000 in funding.
According to Ife Adebayo, national coordinator of the Programme, growth lab was designed to support startups that have achieved early traction and are seeking the expertise, networks, and investment required to scale following the implementation of Founders Lab.
“Growth Lab is the Startup Bridge accelerator programme, designed for startups that have developed an MVP and require structured support to scale. The programme focuses on strengthening venture fundamentals and preparing companies for external investment.
“The programme targets startup founders who are seeking the support, networks, expertise, and investment readiness required to accelerate growth and strengthen their position within the Nigerian innovation ecosystem,” he said.
He added that selected founders will gain access to structured growth support, investment readiness preparation, access to industry experts, market expansion pathways, a $100,000 cash investment (or Naira equivalent) for 7.5% equity upon entering the programme (terms and conditions apply), and up to $250,000 in potential follow-on investment should certain growth conditions be met.
“Eligible startups must be at the post-MVP stage, demonstrate evidence of market validation through users, customers, pilots, partnerships, waitlists or any other demand signals, and be willing to participate fully in the hybrid programme,” he said.
The programme will run as an intensive 12-week hybrid experience, including virtual engagements and two physical weeks in Lagos focused on collaboration, learning, and business growth.
The statement said applications opened on July 15, 2026, and will close on August 19, 2026.
According to him, female founders are strongly encouraged to apply. Selection will be conducted through a clearly defined, merit-based evaluation process aligned with published criteria.
iDICE is a $618 million federal government initiative backed by international lenders to boost the technology and creative sectors.
It provides young entrepreneurs with business skills training, mentorship, and access to capital through funds and accelerator programs like the iDICE Startup Bridge.
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