Echotitbits – Nigeria News

Tag: Customs

  • Massive Cocaine Haul Intercepted at Apapa Port on Marshall Islands Vessel

    Massive Cocaine Haul Intercepted at Apapa Port on Marshall Islands Vessel

    According to The Guardian Nigeria, a joint operation by the Nigerian Customs Service and the NDLEA led to the seizure of 30.1kg of cocaine at the Apapa Port in Lagos. The illicit substance was discovered aboard a vessel flying the flag of the Marshall Islands, hidden within a specialized compartment.

    The interception is being hailed as a major victory in the ongoing war against international drug trafficking syndicates using Nigerian ports as transit hubs. Security agencies have already commenced a deep forensic investigation into the ship’s manifest and the identities of those involved in the logistics chain.

    Vanguard supported this report, highlighting that ‘Customs and NDLEA are stepping up vigilance at maritime gateways’ following several high-profile busts. BusinessDay also cited the development, quoting officials who noted that ‘illicit trade must be shunned’ to protect Nigeria’s international trade reputation.

    Echotitbits take: The use of a foreign-flagged vessel suggests a sophisticated international ring. While the seizure is commendable, the real challenge lies in prosecuting the high-level financiers behind these shipments, who often hide behind layers of corporate shell companies.

    Source: Vanguard — https://www.google.com/amp/s/www.vanguardngr.com/2026/01/customs-ndlea-intercept-30-1kg-cocaine-on-marshall-islands-flagged-vessel-at-lagos-port/amp/
    Vanguard January 3, 2026

    Photo Credit: Vanguard

  • Nigeria moves to modernise trade data and policy coordination to deepen AfCFTA gains

    Nigeria moves to modernise trade data and policy coordination to deepen AfCFTA gains

    2026-01-02 06:00:00
    Reporting by Punch indicates the federal government is planning a policy and data overhaul aimed at improving Nigeria’s execution under the African Continental Free Trade Area (AfCFTA), including tighter coordination and clearer trade metrics.

    Officials say the push is designed to make Nigeria’s participation more measurable—capturing trade flows and ensuring the country can track performance in both goods and services under AfCFTA rules.

    The reforms also aim to improve policy clarity and reduce fragmentation across agencies involved in trade facilitation, border processes, and export promotion.

    In Nigeria’s AfCFTA Achievements Report 2025 published via the trade ministry, the plan states the AfCFTA coordination structure will “update the relevant trade data systems to include disaggregated metrics” for AfCFTA goods and services. In a public update, the minister’s office notes Nigeria is working to “reinvigorate AfCFTA implementation” and widen effective market access for Nigerian businesses through preferential terms.

    Echotitbits take: Data is the quiet engine of trade competitiveness. If this overhaul actually standardises how Nigeria counts AfCFTA trade (including informal and services flows), it will sharpen policy choices—from export incentives to port reforms. Watch for new dashboards, upgraded customs/trade reporting, and whether SMEs can access the practical “how-to-export” guidance that makes the numbers real.

    Source: The Punch — January 2, 2026 (https://punchng.com/fg-plans-policy-data-overhaul-to-deepen-afcfta/)
    The Punch 2026-01-02

    Photo Credit: The Punch

  • Ports on edge as shipping lines weigh new charges under Nigeria’s tax reforms

    Ports on edge as shipping lines weigh new charges under Nigeria’s tax reforms

    2026-01-02 06:00:00
    In a report by Punch, freight forwarding groups say tension is rising at Nigeria’s ports as shipping lines consider higher freight-related charges following the rollout of new tax reforms from January 1, 2026.

    Industry operators warn that any sudden increase in port-related costs can ripple into inflation, import prices, and cargo diversion to neighbouring countries—especially at a time when businesses are still adapting to currency and cost pressures.

    Stakeholders are calling for clarity on how the new tax implementation applies across shipping, terminal logistics, and associated services, to avoid inconsistent billing and disputes.

    The Guardian reports that “increasing tariffs at this critical time will further escalate the cost of doing business at Nigerian ports” and could encourage cargo diversion. The Sun also reports a tariff-hike angle, noting the Shippers’ Council is set to review certain charges while approving an increase for shipping lines in early 2026.

    Echotitbits take: If port charges jump abruptly, consumers pay twice—at the checkout and through slower supply chains. Watch the Nigerian Shippers’ Council and Customs for harmonised guidance, and whether freight forwarders push for phased implementation or explicit exemptions to prevent surprise billing.

    Source: The Punch — January 2, 2026 (https://punchng.com/tax-reforms-spark-tension-as-shipping-lines-plan-hikes/)
    The Punch 2026-01-02

    Photo Credit: The Punch

  • US tariff shock: Nigeria’s export earnings take a hit as trade gap risks widen

    US tariff shock: Nigeria’s export earnings take a hit as trade gap risks widen

    Photo credit: The Punch

    2025-12-22 09:00:00

    Figures cited by *The Punch* show Nigeria’s exports to the United States have taken a major hit in the wake of higher US tariffs, with the report estimating a roughly ₦1tn-scale export loss and a sharper trade imbalance.

    The data-driven argument is that once tariffs rise, marginal cargoes—especially non-oil shipments—lose competitiveness quickly, while buyers switch to alternative suppliers.

    Economists warn that tariff pressure can ripple beyond customs: export earnings affect FX inflows, port activity, manufacturing orders, and jobs tied to the export chain.

    The story also revives an old weakness—Nigeria’s narrow export basket—where shocks to market access translate fast into national revenue and FX volatility.

    BusinessDay reported that “Nigerian exports to the United States will now attract a 15 percent tariff,” while Nigeria Info FM similarly reported exports “will now face a 15% tariff” following an executive order—supporting the tariff-change backbone of the Punch analysis.

    **Echotitbits take:** The policy response can’t be vibes: Nigeria must diversify export destinations, improve standards compliance, and negotiate carve-outs where possible. Watch for whether Abuja pursues targeted trade diplomacy—or quietly absorbs the loss and shifts focus to other markets.

    Source: The Punch — December 22, 2025 (https://punchng.com/nigeria-suffers-nearly-n1tn-export-loss-after-trump-tariff/)

  • Lekki Deep Sea Port Says It Has Reached 50% Operating Capacity as Cargo Volumes Rise

    Lekki Deep Sea Port Says It Has Reached 50% Operating Capacity as Cargo Volumes Rise

    Photo Credit: Punch

    2025-12-17

    In a report carried by *The Punch*, operators of the Lekki Deep Sea Port say the facility has hit about 50% operational capacity, citing improving cargo throughput and expanding shipping activity.

    The update suggests the port is steadily moving from ramp-up to maturity, a key milestone given expectations that Lekki will reduce congestion pressure on older Lagos ports and support Nigeria’s trade competitiveness.

    Industry watchers also see the capacity marker as a signal for faster connectivity upgrades—road/rail evacuation, truck call-up efficiency, and customs processing speed will determine whether the port translates into lower logistics costs.

    Other reporting on the same development includes:
    – S&P Global: “Port utilisation is improving as West Africa trade routes adjust and operators expand calls.”
    – Lloyd’s List: “Terminal productivity gains are beginning to show in cargo-handling metrics.”

    Analysis/Echotitbits take: 50% capacity is progress, not victory. The real test is evacuation and cost-to-clear. Watch for rail-link milestones, customs digitisation improvements, and whether shipping lines increase direct calls that reduce transshipment delays.

    Source: The Punch — December 17, 2025 (https://punchng.com/lekki-deep-seaport-hits-50-operational-capacity/)