Maritime Agencies
MARAN Hosts Discussion on Nigeria-China Currency Swap Deal: Opportunities, Challenges

By Izuchukwu Ozoemena
Come April 15, 2025, the Maritime Reporters’ Association of Nigeria (MARAN) will play host to a top- flight event with the theme “Navigating the Nigeria-Peoples Republic Of China Currency Swap: Opportunities and Challenges for Import, Export and Maritime Business”.
The landmark event which takes place a the Rockview Hotel, Apapa GRA, Lagos, will bring together critical stakeholders in the import and export business, policy-makers, and government agencies to examine the Nigeria-China Currency Swap deal and the implications on Nigeria’s maritime industry.
The currency swap agreement, worth 15 billion Yuan ($2 billion), enables the direct exchange of the Chinese Yuan and the Nigerian naira, bypassing the US dollar.
This groundbreaking deal, according to Godfrey Bivbere, President of MARAN, is expected to foster stronger bilateral trade, between Nigeria and China by reducing transaction costs and boosting economic cooperation.
The MARAN President emphasized that in line with her role agenda-setting role, the association recognizes the importance of interrogating the policy further considering the debilitating effect of the American dollar on importation and China’s significant role as Nigeria’s biggest import partner.
Participants expected at the event include the Central Bank of Nigeria (CBN), the Nigeria-China Strategic Partnership (NCSP) and the Chinese Embassy in Nigeria.
Others are the Ministry of Finance, importers, exporters, maritime operators, policy-makers, economists, financial institutions, and trade organizations.
The event aims to provide an enhanced understanding of the Nigeria-Peoples Republic Of China currency swap and its impact on stakeholders in import, export, and maritime businesses.
The meeting will also identify potential risks and opportunities arising from China’s growing economic influence in Nigeria and provide actionable recommendations for stakeholders to navigate changes in the trade and maritime landscape.
Maritime Agencies
NPA Berths Nigerian-Owned Container Vessel,”MV OCEAN DRAGON,” To Boost Incountry and Regional Trade,

By Izuchukwu Ozoemena
The Nigerian Ports Authority (NPA), 2nd July, 2025, berthed “MV Ocean Dragon”, the first wholly Nigerian-owned container vessel.
The craft with International Maritime Organization (IMO) Number 9508770 which belongs to Clarion Shipping West Africa Limited has a capacity of 349 Twenty-Foot-Equivalent Units (TEUs) and demonstrates a concerted investment drive by the NPA aimed at reaping the gains of cost and time- saving benefits of short-sea shipping by plying in-country maritime trade routes across Nigeria and the West African sub-region. It offers an efficient alternative to road transport as the Authority’s efforts at deepening multi- modalism in transportation is being realized.
The vessel is scheduled to operate across West Africa and beyond, servicing ports in Nigeria, Benin Republic, Togo, Ghana, Cameroon, Sierra Leone, Ivory Coast, Egypt, South Africa and others, with expressions of interest for businesses already being established.
As stated by Dr Abubakar Dantsoho, Managing Director/ CEO of the NPA: “this development is a testament to our relentless commitment towards deepening efficiencies required for maximizing our marine and blue economy potentials in line with the prompting of the Honourable Minister of Marine & Blue Economy Adegboyega Oyetola whose tenacity of purpose culminated in the recent FEC approval of the national policy on Marine and Blue Economy”.
Speaking about the development too, the Vice President of Clarion Shipping West Africa Limited, Bernadine Eloka, described the acquisition of the vessel as a bold solution to the high-risk, road-dominated movement of cargoes within Nigeria. It signifies a strategic move to deepen regional trade under the African Continental Free Trade Area (AfCFTA).
The Clarion Group, she stated, aims to offer more efficient intra-African shipping services while opening up new business opportunities across ports in Nigeria, Ghana, Ivory Coast and beyond.
“We acquired MV Ocean Dragon to offer a seamless alternative to container haulage by road. Rather than struggling to move containers from Lekki to Onitsha, Port Harcourt, or Calabar by trucks, Ocean Dragon can move up to 349 containers by sea and deliver within two days from port to port,” Eloka said.
According to her, enforcement of the cabotage regime would encourage local investment, create jobs, and reduce Nigeria’s dependency on foreign-owned shipping lines.
Also speaking, Managing Director of Clarion Suncity Terminal Logistics Limited, Mustafa Mohammed, said the company would take aggressive steps to compete with global giants such as Maersk Line and MSC, by leveraging its status as Nigeria’s first indigenous shipping liner, investing in assets that directly support Nigerian exporters and importers, particularly in the landlocked regions.
He said the company had already secured bookings for 1,300 export containers and is helping farmers and manufacturers to avoid losses caused by delays and lack of containers.
This development is coming on the heels of the announcement by the NPA MD of injection of 60 million USD in fresh investments towards the establishment of eco-friendly ports developments catalyzed by the Authority’s renewed orientation towards Nigerian content development.
Maritime Agencies
NIGERIAN PORTS AUTHORITY BERTHS FIRST WHOLLY NIGERIAN-OWNED CONTAINER VESSEL.

By Izuchukwu Ozemema
In a development that signposts readiness to maximize the gains derivable from the African Continental Free Trade Area (AfCFTA), the Nigerian Ports Authority (NPA) on 2nd July at 05:05 hours deployed its state-of-the-art marine crafts to berth the first wholly Nigerian-owned container vessel.
The container vessel with International Maritime Organization (IMO) number 9508770 christened MV Ocean Dragon is owned by Clarion Shipping West Africa Limited has a capacity of 349 Twenty-Foot-Equivalent Units (TEUs) gives a boost to concerted investment drive geared towards reaping the cost and time saving benefits of short-sea shipping by plying in-country maritime trade routes across Nigeria and the West African sub-region and offers an efficient alternative to road transport as the Authority’s efforts at deepening multi modalism crystallize.
The vessel is scheduled to operate across West Africa and beyond, servicing ports in Nigeria, Benin Republic, Togo, Ghana, Cameroon, Sierra Leone, Ivory Coast, Egypt, South Africa and others, with expressions of interest for business already being established.
Responding to the milestone, Managing Director/ CEO of the NPA Abubakar Dantsoho said “this development is a testament to our relentless commitment towards deepening efficiencies required for maximizing our marine and blue economy potentials in line with the prompting of the Honourable Minister of Marine & Blue Economy Adegboyega Oyetola whose tenacity of purpose culminated in the recent FEC approval of the national policy on Marine and Blue Economy”.
On her part, Vice President of Clarion Shipping West Africa Limited, Bernadine Eloka, described the acquisition as a bold solution to the high-risk, road-dominated movement of cargoes within Nigeria and a strategic move to deepen regional trade under the AfCFTA.
She said that the Clarion Group aims to offer more efficient intra-African shipping services while opening up new business opportunities across ports in Nigeria, Ghana, Ivory Coast, and beyond.
“We acquired MV Ocean Dragon to offer a seamless alternative to container haulage by road. Rather than struggling to move containers from Lekki to Onitsha, Port Harcourt, or Calabar by trucks, Ocean Dragon can move up to 349 containers by sea and deliver within two days from port to port,” Eloka said.
According to her, enforcement of the cabotage regime would encourage local investment, create jobs, and reduce Nigeria’s dependency on foreign-owned shipping lines.
Also, Managing Director of Clarion Suncity Terminal Logistics Limited, Mustafa Mohammed, said the company would take aggressive steps to compete with global giants, such as Maersk Line and MSC, by leveraging its status as Nigeria’s first indigenous shipping liner, investing in assets that directly support Nigerian exporters and importers, particularly in the landlocked regions.
He said the company had already secured bookings for 1,300 export containers, and is helping farmers and manufacturers to avoid losses caused by delays and lack of containers.
This development is coming on the heels of the announcement by the MD NPA Abubakar Dantsoho of fresh injection of 60 million USD in fresh investments towards the establishment of eco-friendly ports developments catalyzed by the Authority’s renewed orientation towards Nigerian content development.
Maritime Agencies
HALF-YEAR REVENUE DISPOSITION: Apapa Customs Hits N1.38Trillion, Confiscates Prohibited Goods Worth Billions.

By Izuchukwu Ozoemena
Following diligent commitment of officers to duty, improved stakeholders’ compliance to legitimate trade and the strategic leadership of Comptroller-General Bashir Adewale Adeniyi, the Apapa Command of the Nigeria Customs Service (NCS), in the first half of 2025, collected ₦1.378 trillion, a remarkable 35% increase in the revenue figure achieved in the corresponding period of 2024.
“We insisted on maximum revenue collection and plugged leakages through effective demand notices,” the Apapa Command Customs Area Controller (CAC) Comptroller Babatunde Olomu announced in Lagos, Thursday, while addressing the press.
The Command, the CAC stated, also recorded several milestones including the first-ever use of the Single Goods Declaration (SGD) through the new B’Odogwu digital platform designed to streamline cargo clearance, reduce congestion and deepen trade facilitation.
In a bid to further modernize operations, he added, the Command is presently collaborating with the Nigerian Railway Corporation (NRC) and industry stakeholders to revive rail cargo movement from Apapa Port to other parts of the country with the aim to decongest roads and cut logistics costs.
Between January and June, 2025, the Command intercepted 27 containers of contrabands whose combined Duty Paid Value (DPV) stands at ₦9.27 billion. These include unregistered pharmaceuticals, expired food products and codeine syrup.
Others are used clothing, stolen vehicles and wildlife parts imported in violation ofradr the CITES treaty.
”As a standard, we will never compromise the health, well-being, safety of Nigerians on the altar of trade facilitation. Every consignment going through our port undergo diligent check through scanning and physical examination when required.”
”It is pertinent to note that trafficking of wild animals contravenes the Convention on Trade in Endangered Species (CITES) which Nigeria is a signatory to. Equally on the detention list is a container of matches imported without the required End-User Certificate as provided for on our extant laws.”
In his submission, Buba Makawa, Commander, Narcotics, Apapa Command of the NDLEA decried the situation whereby importers of fake pharmaceuticals and other illicit drugs use fake companies and addresses to avoid being detected.
”Most of the drugs being imported are brought in the name of fake companies. We had some cases we are prosecuting at the Federal High Court. We had to use their NIN to trace the perpetrators. If we use the Bill of Laden, it won’t lead anywhere.”
Within the period, three bonded terminals were sealed for various infractions, with one already facing prosecution, the CAC told the maritime press.
“We have demonstrated our capacity, and we shall continue to do more,” Olomu declared.
The Area Controller described intelligence- sharing as “a critical force in defeating criminal networks” and commended other sister agencies who volunteer massive collaboration to enable the Command discharge her duties.
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HALF-YEAR REVENUE DISPOSITION: Apapa Customs Hits N1.38Trillion, Confiscates Prohibited Goods Worth Billions.
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NPA Berths Nigerian-Owned Container Vessel,”MV OCEAN DRAGON,” To Boost Incountry and Regional Trade,
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NIGERIAN PORTS AUTHORITY BERTHS FIRST WHOLLY NIGERIAN-OWNED CONTAINER VESSEL.