Maritime Agencies
COMTUA, AWAEMAP CRY OUT: NPA MD Is Grounding Nigerian Exports, Sending Us Out Of Business.
By Izuchukwu Ozoemena
The Association of West African Exporters and Maritime Professionals (AWAEMAP) has raised the alarm, accusing the Managing Director of the Nigerian Ports Authority (NPA) Mr Mohamed Bello-Koko of strangulating them out of the nation’s agro export-processing industry to give room for him and his cronies to corner undeserved retirement businesses for themselves.
AWAEMAP brought this to light at a press conference it organized in Lagos, Thursday, in conjunction with the Conference of Maritime Truck Unions and Associations (COMTUA).
Speaking at the event, AWAEMAP President, Bunmi Olumekun, alleged that the NPA Managing Director has unilaterally chosen five out of many Export Processing Terminals (EPT) to process agro exports. Sadly, two of these belong to Lebanese with whom he has joint hidden interests.
AWAEMAP is worried that the NPA MD seeks to introduce a new Standard Operating System to establish one-stop terminal for agro export containers.
“These terminals referred to as Domestic Export Warehouse (DEW) are meant to serve the purpose of a one-stop shop for all government regulatory agencies to process all agro export containers and also serve as the only pre-gate terminals for all agro export container boxes seeking access into Apapa Port and all other port complexes in Nigeria for onward shipment to various destinations across the globe”.
The body stated that the measure by the NPA would have received applause if going for the five warehouses as being arranged would serve to complement the already- existing licensed customs warehouses scattered all over Nigeria.
“Rather, the decision is to refuse entry into Nigerian ports all over the country any agro bound container that has not made use of these warehouses.”
Condemning the decision of the NPA MD on this matter, the Association said by designating only five warehouses where export-bound containers would be accepted for getting-in, he has contravened the Customs & Excise Management Act, (CEMA), CAP 84 Laws of the Federation of Nigeria 1990, especially Part IV, Section 82 which clearly makes provisions for the use of licensed warehouses including private warehouses for the purpose of processing export-bound goods.
“This decision is being enabled by the MD of NPA to ensure he continues to enrich himself even after his tenure at the helms of NPA comes to an end.
“The NPA MD who has disclosed and undisclosed interest in these warehouses has decided that for his ulterior motive to come to light, he must likewise destroy the Nigerian economy while at the same time increasing the unemployment rate of Nigerians. We understand that out of the five warehouses being introduced, two are owned and operated by foreign entities.”
The consequence of implementing the policy, AWAEMAP regretted, is that all the existing Licensed/FPIS warehouses used, owned and managed by her members nationwide would become useless.
“These DEW which are limited in number would be overrun by thousands of agro-export containers, thereby creating another round of congestion in and around the ports environment.”
“This policy will take the export industry several years back after all the improvement and achievements recorded since the introduction and implementation of the Electronic Call-up System through the Eto mobile App.”
It warned that if Bello Koko is allowed to implement what it described as a repugnant policy, it will wipe off improvements and sanity being witnessed in Apapa ports. It will also increase the overall cost of exporting agro commodities in Nigeria.
“Invariably, our exportation prowess will decrease as exporters will be forced to sell at a loss as the international rates of exportable cash crops takes no cognizance of the exorbitant cost of exportations of our country due to the greed of a select few.”
AWAEMAP insists that with the introduction of this policy, exporters would be forced to pay for handling charge, weighbridge documentation and examination position fee. Others impositions are trucking to ports and storage charges cumulatively amounting to about $650 extra charges per container box.
“All these charges listed would have been incurred by exporters prior to accessing this DEW invariably leads to double expenditure for exporters.
Currently, agro-export containers departing Benin and other neighbouring countries come at a cost of $200 cheaper than exporting same value agro export container box from any port within Nigeria following numerous regulatory and logistic challenges prevalent in the maritime export industry.
The body condemned the situation whereby her members are being subjected to hardship, finding it hard to survive as they compete with neighbouring countries.
It stressed the need to condemn and prevent the actions of the NPA MD in this matter “as the ripple effect of this policy will cut across all spheres of the Nigerian economy”.
Even though business is free, Bunmi Olumekun observed, “but we can’t be subjected to the whims and caprices of NPA MD’s cronies.”
He beckoned on Nigerians to intervene and help them because of the damage PFP is doing to the system.
In his contribution, the Boat Chairman, Alhaji Ina-Olaji Nofiu Liadi recalled that processing a container in NPA’s so-called five warehouses costs an exporter not less than N120,000. Other constraints, he stated, are unbearable bank charges coupled with expenses on the Eto system. He regretted that this cannot be regulated.
“Our case is on terminal export processing of goods whereby goods already processed are to go through same process in their so-called five terminals.
He said they had gone to court to interpret reasons processed export goods must undergo fresh processing to satisfy NPA MD and his cronies who run the five terminals in question.
Speaking on behalf of his group, Comrade Adeyinka Aroyewun, President, Conference of Maritime Truck Unions Associations (COMTUA) was emphatic that NPA’s agenda was to keep truck owners out of business and to expose them to what he called stiff competition with foreigners now in the picture.
“We’re rejecting the export-processing terminals. Why should we go through NPA whose poor management acts led to ports concession? NPA does not meet with any stakeholder in the transportation industry. He queried the TTP, insisting that terminal operators reject containers due to scarcity of information on the terminals by the NPA, a reason trucks remain on the road despite Eto.
“There is a racket between NPA and TTP Ltd. We’re rejecting NPA’s involvement in cargo handling. Extortion is NPA’s aim, provision of jobs to NPA’s cronies through whom they corner money and chase is out of business.”
COMTUA beckoned on the Nigerian Shippers’ Council (NSC) to intervene and use her good offices as the economic regulator to discourage the attitude of business grabbing being exhibited by the NPA.
COMTUA warned that the Federal Government should not allow anybody discourage her in the interest to grow export of goods from Nigeria.
Efforts to get the NPA side of the matter before publication were unsuccessful as calls to relevant units were not responded to.
Maritime Agencies
SCAN SUMMIT, 2026: Conversion to Earn Higher Interest Rates, the Bane of the CVFF, Omatseye says.
By Izuchukwu Ozoemena
As the back-and-forth surrounding the disbursement of the Cabotage Vessel Financing Fund (CVFF) keeps playing out, a light has been shed on the actual worth of the accrued sum, talking about the Dollar value, its Naira equivalent, among other things and the impact this could have in determining the number of beneficiaries and the eventual achievement of the objective.
Ship owner and former Director-General, Nigerian Maritime Administration and Safety Agency (NIMASA), Temisan Omatseye, offered the clarification in Lagos, Thursday, at the 2026 edition of the Annual Summit of the Shipping Correspondents’ Association of Nigeria (SCAN) whose theme was ‘Low-Risk Capital for Indigenous Shipowners: Overcoming Regulatory, Financial Bottlenecks’.
Barrister Omatseye explained that contrary to pervading impressions, the $350 million CVFF was not retained in dollars. It was converted into naira to earn higher interests, leaving its dollar value exposed to the vagaries of exchange rate.
The decision to convert the funds into naira was driven by the significantly higher interest rates available in the domestic market at the time compared with dollar deposits internationally.
At the time when calls for the disbursement of the CVFF was at the peak, he explained, interest rates in Nigeria stood between 23 and 25 per cent while dollar-denominated investments offered returns of about one to two per cent. The strategy was to convert dollar CVFF receipts to naira to maximise interest earnings in the domestic financial market.
“Interest rate at that time was quite high, 23 per cent, 24 per cent, 25 per cent. And interest rate in dollars was about one or two per cent. Dollar interest rate is very, very low internationally,” he said.
Dollar receipts were changed to naira while the overall proceeds were lodged into local currency accounts which guaranteed higher interest rates. But the naira depreciation of 2023, significantly affected the fund’s value when measured in dollars. He cautioned that the original $350 million valuation could not be assumed to remain unchanged because the funds were held in naira rather than dollars.
“So you cannot be looking at $350 million as of 2019 to be the same $350 million today, because the money is held in naira,” he said.
Omatseye urged stakeholders to distinguish between the fund’s historical dollar valuation and its current value, explaining that the latter would depend on the actual naira balance and the prevailing exchange rate.
“When you guys speak of $350 million, CVFF is not held in dollars. It’s in naira, and at the present exchange rates, keep your realistic eye,” he said.
He added that determining the fund’s current dollar equivalent required converting the available naira balance at the applicable exchange rate. The former NIMASA director-general also noted that any claims about an increase in the fund’s value should be established through verifiable financial records.
Speaking through Mrs Anastasia Ogbonna, Director of Press at the Federal Ministry of Marine and Blue Economy, the Minister, H.E.Adegboyega Oyetola reaffirmed the Federal Government’s commitment to accelerating the disbursement of the CVFF to qualified indigenous shipowners. Oyetola announced that he had directed NIMASA to commence the disbursement process to eligible beneficiaries as, according to him, President Bola Tinubu was committed to building a competitive maritime sector that would enable Nigerian entrepreneurs participate meaningfully in domestic and international shipping.
Access to long-term financing at commercially- sustainable rates, he added , remains a major challenge for indigenous shipowners because vessel acquisition requires substantial capital, while high borrowing costs, collateral requirements and lengthy repayment periods place operators at a disadvantage.
He said the government had taken concrete steps to operationalise the CVFF, established under the Coastal and Inland Shipping (Cabotage) Act of 2003 to support indigenous vessel ownership.
Oyetola disclosed that in January 2026, a dedicated application portal was launched to promote transparency, accessibility and efficiency in the process, while the number of approved Primary Lending Institutions (PLIs) was increased from five to 12. He added that NIMASA had been directed to work closely with the approved lending institutions to accelerate the assessment of applications and disbursement to qualified beneficiaries. However, he stressed that the fund must be administered with transparency, rigorous due diligence and prudent risk management, describing it as a revolving facility whose sustainability depended on responsible borrowing, repayment and accountability.
“Our commitment to the effective implementation of the Cabotage Act remains equally firm. We recognise that protecting the legitimate participation of Nigerians in domestic shipping must go hand in hand with building their financial, technical and operational capacity, ” he said. Oyetola also urged financial institutions to develop financing products suited to the commercial realities of the maritime industry and called on shipowners to embrace sound corporate governance, proper financial reporting and disciplined repayment practices. He said reducing investment risks required more than making funds available, stressing the importance of a predictable regulatory environment, credible business plans, transparent financing arrangements, effective insurance and reliable revenue streams.
Beyond the CVFF, the minister said the government was pursuing broader initiatives to strengthen indigenous participation in shipping, improve maritime safety, develop Nigerian seafarers and expand services supporting vessel ownership and operations.
He also disclosed that the government was exploring a commercially driven national shipping line initiative based on private capital, professional management, strategic partnerships and international expertise. The initiative would complement indigenous operators, expand Nigeria’s shipping capacity and operate on a sustainable commercial basis. Oyetola said the government’s broader objective was to encourage greater Nigerian ownership of vessels capable of serving domestic trade and competing in international shipping, while creating more opportunities for Nigerian seafarers to gain sea-time experience and secure employment. He called for stronger collaboration among government, shipowners, financiers, regulators and industry professionals to remove regulatory and financial bottlenecks, strengthen indigenous shipping and ensure that Nigerians secure a greater share of opportunities in the maritime economy.
Maritime Agencies
Dredgers’ Body Disowns Report Alleging Extortion Against Lagos Commissioner Alebiosu, Cardoso.
By Izuchukwu Ozoemena
The Dredgers Association of Nigeria (DAN) has distanced itself from a report entitled ‘Dredgers Association Appeals to Sanwo-Olu Over Alleged Extortion, Urges Governor to Call Alebiosu, Cardozo to Order’, published on October 23, 2026 by some online blogs.
In a disclaimer jointly signed by Batare Akpomejero and Richard Ntan, National President and Secretary respectively, the Association categorically stated that the publication is fake and could not have originated from its National Leadership or any authorised organ of the dredgers’ body.
DAN clarified that it neither authorised, approved nor issued any petition or press release accusing Hon. Ekundayo Alebiosu, Commissioner for Waterfront Infrastructure Development, Lagos State, and Mr. Cardozo of harassment, intimidation or extortion of dredgers and tipper operators.
The Association further stated that it had no record of the alleged impounding of trucks and demand for ₦500,000 as reported in the publication, adding that it completely dissociated itself from the claims.
Reaffirming its relationship with the Lagos State Government under the leadership of Governor Babajide Olusola Sanwo-Olu, DAN described its engagement with the government and the Ministry of Waterfront Infrastructure Development as cordial and collaborative.
On matters relating to dredging regulations and the interpretation of Supreme Court judgments concerning shoreline authority, the Association explained that discussions were being pursued through appropriate institutional channels and dialogue with relevant federal and state authorities, rather than through media confrontations.
Consequently, DAN has disclaimed the report in its entirety, urging the public, the Lagos State Government, Hon. Alebiosu and other stakeholders to disregard the publication as a statement issued on behalf of the Association.
DAN also expressed regret over any embarrassment, inconvenience or reputational damage the publication may have caused the Lagos State Government, the Honourable Commissioner and other officials mentioned.
It reaffirmed its commitment to promoting lawful, sustainable and collaborative dredging operations across Nigeria, while maintaining constructive engagement with relevant authorities and stakeholders.
By Izuchukwu Ozoemena
The National Inland Waterways Authority (NIWA) is committed to translate maritime policies into practical results as part of efforts to ensure safer waterways, reliable infrastructure and sustainable economic growth.
NIWA Acting Managing Director, Alhaji Yusuf Girei made the commitment while congratulating stakeholders in his goodwill message during the 2026 World Maritime Day celebration.
This year’s celebration whose theme was“From policy to practice: Powering excellence,” has in attendance was graced the Minister of Marine and Blue Economy, His Excellency Dr. Adegboyega Oyetola, CON; the Ministry’s Permanent Secretary Mrs. Fatima Sugra Mahmood, FSM, MCIPM; Chairperson and Keynote Speaker, Mrs. Mfon Usoro; Directors and Heads of Departments, CEOs of Parastatals under the Ministry, members of the diplomatic corps, industry stakeholders and the media.

“This year’s theme,” Alhaji Girei said, “reminds us that strong policies create value only when they are translated into meaningful action. In the maritime sector, that means safer waterways, reliable infrastructure, environmental stewardship and services that support trade and economic growth.”

He noted that NIWA remains committed to working with State Governments, industry stakeholders, host communities and development partners to improve navigation, strengthen safety standards, modernise facilities and protect the waterways on which many livelihoods depend.
Speaking about excellence in the maritime sector, he described it as a shared responsibility that requires skilled professionals, effective regulation, investment in innovation and a culture that places safety and sustainability at the heart of operations.

“By working together, we can build a maritime sector that is competitive, inclusive and prepared for the future,” he added.

He commended President Bola Ahmed Tinubu, the Minister of Marine and Blue Economy, the Permanent Secretary and all stakeholders whose commitment keeps the maritime industry moving, and urged participants to turn shared ambition into practical results.
The celebration peaked when Alhaji Girei joined in the award presentation for the Primary School Children’s Essay Competition category sponsored by NIWA. The first position went to Idris Jibril Oladimeji of Holy Cross Primary School, Lagos, who won N200,000 cash and a laptop computer. The second position went to Suleiman Aisha of St. Paul’s Anglican School, Lagos Island, who received N150,000 and a laptop computer, while the third position went to Yahaya Aliyah of St. Mathias Girls Primary School, Lagos, who received N100,000 cash and a laptop computer.
On behalf of the Board, Management and Staff of NIWA, he wished all stakeholders a successful World Maritime Day celebration.
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