Maritime Agencies
Carribean Nations Applaud Dangote Refinery, Charge African Nations To Stop Exporting Raw Materials.
By Izuchukwu Ozoemena
Africa and developing countries have been charged to reverse the cycle of exporting raw materials and importing finished products from developed countries by embracing and investing in industries such as the Dangote Petroleum Refinery and Petrochemicals domiciled in the continent. This and similar establishments that process raw materials into finished products must be embraced and encouraged to blossom so as to save Africa from being a dumping ground and perpetuating a long-standing economic dependence on the developed nations.
Dickson Mitchell, the Prime Minister of Grenada and chairman, Caribbean Community (CARICOM or CC) – a political and economic union of 15 member states and five associated members throughout the Americas, The Caribbean and Atlantic Ocean, disclosed this, Thursday, at the Dangote Petroleum Refinery and Petrochemicals complex in Ibeju Lekki, Lagos.
Mitchell who was championing the efforts of Carribean countries desirous of partnering with Dangote Group in cement and fertilizer production, referred to Dangote Petroleum Refinery and Petrochemicals as a significant investment in industrialisation and manufacturing needed by developing countries for their technological and industrial growth.
It is through this type of investment, he noted, that Africa and the developing countries can reposition themselves industrially, process natural resources available in the continent, market finished products locally and beyond to the advantage of their individual economies while creating employment and broadening the continent’s foreign exchange earnings.
Mitchell said the refinery is a tribute to the President of Dangote Group, Aliko Dangote and his vision not just for Nigeria but Africa as a whole.
“This investment is a tribute to Dangote and his remarkable vision. It is the first of its kind in Nigeria and Africa, symbolising what the developing world needs: significant investment in industrialisation and manufacturing. This is an incredible achievement and a testament to Mr. Dangote’s vision, not just for his company, but for Nigeria and Africa as a whole.
Dangote, he stated, exemplifies what an African leader should be.
“We need not just political leaders, but business leaders who are willing to invest in Africa, particularly in manufacturing and industrialisation. We must ensure that we don’t continue to export our raw materials to the developed world where they can be turned into sophisticated products and sent back to us. We need to reverse that cycle; it is the only way to grow the wealth of Africa and the developing world.”
” Additionally, we need to support this with training and invest in job opportunities,” he said.
Applauding the sophistication and automation at the refinery, the Prime Minister expressed optimism for Nigeria’s future, especially given the number of young Nigerians trained and working at both the refinery and fertiliser plants. The $20 billion refinery, the largest private investment in Africa, stands out for its team of young professionals, predominantly aged between 26 and 28, most of whom hold advanced degrees and were educated in Nigeria”.
“It has been a wonderful experience to witness the shared skills, depth of sophistication, and automation here. Seeing so many bright young Nigerians, particularly in the laboratories, is truly inspiring. I believe this bodes well for the future development of Nigeria,” he added.
Mitchell stated that the Caribbean Community would be exploring partnership opportunities with the Dangote Group to enhance its economy.
“One of the reasons I am here is to pursue synergies and partnerships between the diaspora and Africa, particularly in areas such as the refinery, cement, and fertiliser. We believe there are fantastic opportunities to develop partnerships between the Caribbean and Africa,” he added.
On his part, Dangote described the visit as symbolic, noting that many Caribbean countries are beginning to discover crude oil and are exploring opportunities to build their own refineries. This would help them address the challenge of exporting crude while importing refined petroleum products at high costs.
“The visit shows that many countries are proud of what we have been able to achieve because a lot of countries have been unable to deliver their refineries. It shows their pride in seeing a Black person like them at the Caribbean, although I am from Nigeria, succeed. For them, this is a dream, especially as many Caribbean countries are beginning to discover oil but still depend largely on exporting crude while importing petroleum products, which is costlier than in America. Their dream is to set up a refinery—perhaps not of this size—but one that would cater to their people,” he said.
Africa’s wealthiest man emphasized that the company is looking for partnerships in the Caribbean not only in petroleum products but also in cement and fertilizer production. He mentioned ongoing discussions about importing crude from these countries while supplying them with refined products.
“There are numerous partnerships in place. He is not only the Prime Minister of Grenada but also the Chairman of the Caribbean Community (CARICOM). We are exploring collaboration in areas such as cement and petroleum, including the possibility of buying crude from them while selling some of our petroleum products to them. We already export to the U.S., Mexico, and other regions, so there is significant collaboration we are looking to develop between us and them.”
The 650,000 barrels per day (bpd) Dangote Oil Refinery—the largest single-train refinery in the world—is designed to process a wide variety of crude oils, including those from Africa, the Middle East, and US Light Tight Oil. It conforms to Euro V specifications and is built to meet stringent standards set by the US Environmental Protection Agency (EPA), European emission norms, the Department of Petroleum Resources (DPR), and the African Refiners and Distributors Association (ARDA).
The refinery has the capacity to satisfy 100% of Nigeria’s demand for petrol, diesel, kerosene, and aviation jet fuel, with additional surplus available for export.
By Izuchukwu Ozoemena
As the ongoing controversy on the Cabotage Vessel Financing Fund (CVFF) persists, an industry expert has canvassed that only guaranteed cargo and long-term trade contracts would guide shipowners to acquire appropriate vessels, generate revenue from their operations and repay the loan over time.
Capt Ladi Olubowale, foremost ship owner and former chapter president of African Shipowners Association (ASA) stated this, Monday, while speaking as a guest at the Maritime Reporters Association of Nigeria (MARAN) Roundtable. The success of the CVFF, he posited, should not be measured merely by the amount allocated to individual shipowners, but by the ability of beneficiaries to link vessel acquisition to viable commercial opportunities.
Capt Olubowale, the CEO, Seamate Maritime Integrated Services Ltd, said that a $25 million facility under the CVFF could be sufficient to acquire a sizeable vessel if the financing is tied to identifiable cargo and long-term trade contracts.
Shipping is all about practicality and private sector must be in the frontline, not the government. People should be made to understand what it means to run the business of shipping. When the Minister travels, he must take along stakeholders who have the experience because shipping is a public sector-driven industry.
Olubowale recalled that the Nigerian Maritime Administration and Safety Agency (NIMASA) had taken a position that potential beneficiaries from the CVFF would be required to provide about $3.7 million in equity to access financing of up to $25 million, but stressed that the critical consideration should be the trade the vessel would serve.
Nigeria’s maritime industry, he explained, is like a loaded ship waiting for who can sail it to sea.
“NIMASA wants you to bring out $3.7 million in order for you to be able to attract $25 million. They will now look at it in your own case. What trade will you be using that for?” he asked.
Olubowale explained that the $25 million facility should not be considered in isolation as different categories of vessels are designed to serve specific cargo requirements.
He urged the government and industry stakeholders to first identify the volume and nature of cargo available in Nigeria and then match such cargo with the appropriate vessels before approving CVFF financing.
Citing dry cargo, cement and other commodities, he said each trade required vessels specifically suited to its operational needs, warning against financing vessel acquisition without first establishing the commercial demand that would sustain the investment.
The shipowner said a properly structured $25 million facility could enable an operator to acquire a vessel dedicated to a specific trade, particularly where a one- or two-year contract guaranteeing cargo is already in place.
He noted that revenue generated from such contracts could be used to service and repay the financing, thereby making the vessel commercially viable and reducing the risk associated with ship acquisition.
Olubowale further called for the CVFF to be deployed as part of a broader national fleet development strategy rather than being treated solely as a financing scheme for individual shipowners.
According to him, with an estimated $700 million currently available in the fund, Nigeria could develop a national fleet covering various cargo segments if the resources were strategically deployed with the guidance of experienced industry professionals.
“Most of this shipping does not require a big capital. It requires you have a 10 per cent deposit as long as you trade to cover up that money,” he said.
He argued that guaranteed trade would significantly improve the viability of CVFF-backed vessel acquisition and provide a clear repayment structure for lenders.
Olubowale also disclosed that several banks had approached his company regarding the CVFF, with some presenting term sheets detailing financing requirements, equity contributions and other conditions.
He said the development represented a significant shift from previous years when shipowners frequently complained about the prolonged process of accessing the fund.
The shipowner maintained that the priority should now be to ensure that the CVFF delivers measurable economic benefits by expanding Nigeria’s indigenous fleet, creating opportunities for local shipowners and enabling Nigerian operators to capture a greater share of the country’s maritime trade.
By Izuchukwu Ozoemena
The Maritime Reporters’ Association of Nigeria (MARAN) is set to confer the prestigious title of Patron on the President of the National Association of Government Approved Freight Forwarders (NAGAFF), High Chief Tochukwu Ezisi, in recognition of his outstanding contributions to the development of Nigeria’s maritime industry and his commitment to humanitarian causes.
The investiture will take place at the MARAN Maritime Annual Lecture (MAMAL), the flagship programme of the association, scheduled to hold at the Nigerian Air Force Event Centre, No. 1 Kofo Abayomi Street, Victoria Island, Lagos.
High Chief Ezisi is a seasoned and accomplished freight forwarder whose decades of experience and contributions to the freight forwarding profession have earned him respect within and beyond the maritime community. He is also widely recognised for his philanthropic activities and commitment to supporting individuals and communities.
MARAN President, Mr. Oluyinka Onigbinde, said the decision to honour High Chief Ezisi reflects the association’s appreciation of individuals who have distinguished themselves through professionalism, service and contributions to the growth of the maritime sector.
According to him, High Chief Ezisi’s elevation as Patron is also expected to further strengthen the relationship between MARAN and stakeholders across the freight forwarding and broader maritime community.
The MARAN President noted that MAMAL has, over the years, provided a credible platform for critical discussions on issues affecting Nigeria’s maritime industry, bringing together policymakers, government officials, regulators, industry leaders, academics, journalists and other key stakeholders.
The annual lecture is expected to attract top government officials, bureaucrats, maritime industry regulators, members of the academia and major stakeholders across the Nigerian maritime sector.
MARAN said the investiture of High Chief Tochukwu Ezisi will be one of the highlights of this year’s MAMAL and will underscore the association’s commitment to recognising individuals whose contributions continue to advance professionalism, collaboration and sustainable development in Nigeria’s maritime industry.
By Izuchukwu Ozoemena
The Apapa Area Command of the Nigeria Customs Service (NCS) is ever committed to sustain and even surpass the current zeal with which it is prosecuting enhanced revenue generation, trade facilitation, professionalism and stakeholder collaboration because every legitimate revenue collected strengthens government’s capacity to deliver on its development priorities and improve the lives of Nigerians.
The Command’s image maker, Chief Superintendent of Customs Isa Suleiman Ibrahim disclosed this in a press release on behalf of the Customs Area Command Controller, Comptroller Emmanuel Oshoba.
The release disclosed a historic revenue collection of Twenty-Eight Billion,One Hundred and Two Million, Nine Hundred and Fourteen Naira, Sixty-One Kobo (₦28,102,000,914.61k) on Tuesday, 18th August, 2026, the highest single-day revenue collection ever recorded by the Command.
The feat, the release indicated, surpasses the previous daily record of ₦20.1 billion, achieved in September 2025, shortly after the assumption of office of the present Customs Area Controller, CAC, Comptroller Emmanuel Oshoba.
The new record is achieved weeks after the Command recorded an unprecedented ₦323 billion monthly revenue collection in July 2026, thus demonstrating the sustained impact of reforms, improved compliance, enhanced trade facilitation, intelligence-driven interventions and the increasing efficiency of digital Customs processes.
Commenting on the feat, Comptroller Oshoba stressed that the achievement is not simply about figures or records. It is about what the Nigeria Customs Service is contributing to the economic wellbeing of Nigerians.
Revenue generated by the Service, he explained, forms part of government resources used to fund public priorities including infrastructure, security, education, healthcare and other services that ultimately impact the lives of ordinary Nigerians.
He therefore dedicated the milestone to the Government and people of Nigeria, while commending the Comptroller-General of Customs, Bashir Adewale Adeniyi, and the management team of the Service for their continued support for modernisation, automation and reforms aimed at making Customs operations more efficient, transparent and business-friendly.
The CAC also acknowledged the cooperation of compliant importers, exporters, licensed Customs agents and other stakeholders, as well as patriotic Nigerians who have provided actionable intelligence in achieving this feat.
He stressed that every compliant transaction contributes to national development and urged stakeholders to continue supporting legitimate trade since a stronger revenue base gives the government greater capacity to respond to the needs of the people and create an environment where businesses can thrive.
Comptroller Oshoba charged officers and men of the Command to see the record as a clarion call to do more.
He emphasised that revenue collection must be achieved alongside trade facilitation, professionalism, transparency and respect for stakeholders, directing personnel to resolve legitimate disputes promptly and ensure that Customs procedures do not unnecessarily hinder lawful businesses.
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Maritime Agencies2 weeks agoSeme Customs Arrests 2, Intercepts Explosives, Expired Noodles As Command’s Revenue Hits N19.8bn.
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Maritime Agencies3 weeks agoCGC Restates Position on Illicit Arms, Unveils Intercepted Weapons and Drugs Worth N373m
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Maritime Agencies3 weeks agoTopfield College Clinches Overall Position as Customs’ WASA Sports Event ends in Lagos.
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Maritime Agencies2 weeks agoNAGAFF Tasks Bonded Terminals To Suspend All Illegal Fees Collections, Refund N178m.
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Maritime Agencies2 weeks agoFOU Zone ‘A’ Customs Recovers over N729m Revenue, Intercepts Smuggled Goods Worth N3.24bn.
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Maritime Agencies1 week agoNAGAFF Petitions IGP On Alleged Police Extortion, Harassment At Sea Ports.
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Maritime Agencies2 weeks agoKey Industry Stakeholders To Focus on Ports Competitiveness as MARAN Hosts MAMAL.
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Maritime Agencies2 weeks agoNIWA, Private Agency Target Pollution Elimination, Job Creation To Clean Lagos Waterways.