Echotitbits – Nigeria News

Tag: logistics

  • Maritime Firm Announces Pan-African Fleet Expansion Drive

    Maritime Firm Announces Pan-African Fleet Expansion Drive

    Figures cited by BusinessDay show that Starzs Investment Company Ltd, a leading Nigerian maritime and logistics firm, is set to significantly expand its operations across the continent. The company’s CEO, Iroghama Ogbeifun, revealed plans to acquire new DP2 AHTS tugboats as part of a fleet renewal strategy to meet the rising demand in Africa’s oil and gas sectors.

    Beyond Nigerian waters, the firm is targeting emerging oil hotspots in Namibia, Mozambique, Guinea, and Congo. This expansion is fueled by strategic partnerships and a renewed investment momentum within the Nigerian offshore industry, where Starzs currently operates 11 vessels, including security patrol boats for major international oil companies.

    As one of the few privately licensed maritime security firms with a Memorandum of Understanding with the Nigerian Navy, the company’s growth is seen as a boost for indigenous participation in the high-stakes maritime sector. The move is expected to create jobs and enhance Nigeria’s footprint in the global maritime economy.

    The expansion was also reported by NANNamed and ThisDay, with ThisDay noting, “Starzs is positioning itself as a Pan-African champion in the maritime space.” The Guardian quoted Ogbeifun saying, “We are investing in response to aging assets and the growing offshore demand across the Gulf of Guinea.”

    Echotitbits take: Starzs’ move into Namibia and Mozambique shows that Nigerian indigenous firms are now mature enough to export services. This is a positive sign for the “Blue Economy” policy of the current administration.

    Source: DailyByTesng – https://dailybytesng.com/single_news/firm-plans-fleet-expansion-across-africa-as-oil-gas-projects-gain-momentum, February 8, 2026

    Photo credit: DailyByTesng

  • Lobito rail concession gets financing boost as AFC helps structure the deal

    Lobito rail concession gets financing boost as AFC helps structure the deal

    Lobito rail concession gets financing boost as AFC helps structure the deal

    Reporting carried via Africa Newsroom says Africa Finance Corporation (AFC) served as co-financial adviser on Angola’s Lobito Atlantic Railway concession, linked to a major financing package to scale corridor capacity.

    The update describes the corridor as a logistics backbone for regional trade—especially for critical minerals moving from inland producers toward global markets, where delays and costs can reshape competitiveness.

    AFC says the plan is expected to raise corridor capacity sharply and reduce freight costs, which could influence where downstream processing and investment ultimately concentrate.

    AFC’s own release repeats the same core projections, including “ten-fold” capacity growth and an “estimated 30 percent” cost reduction. Reuters has also covered the Lobito Corridor push, quoting U.S. officials describing it as a “commitment to advance” strategic infrastructure.

    Echotitbits take:
    Lobito is fast becoming a “strategic corridor brand.” Watch execution: timelines, community impacts, security along the route, and whether lower costs actually translate into better prices and higher volumes for exporters.

    Source: Africa Finance Corporation (AFC) — January 2, 2026 — https://www.africafc.org/news-and-insights/news/africa-finance-corporation-acts-as-co-financial-adviser-for-angolas-lobito-atlantic-railway-concession
    Africa Finance Corporation (AFC) 2026-01-02

    Photo Credit: Africa Finance Corporation (AFC)

  • Manufacturers forecast stronger 2026 output but say policy execution will decide the results

    Manufacturers forecast stronger 2026 output but say policy execution will decide the results

    2026-01-02 09:00:00
    According to Punch, the Manufacturers Association of Nigeria (MAN) projects improved output in 2026, with estimates pointing to stronger real growth and a higher contribution to GDP if enabling policies are implemented effectively.

    The report links the optimism to reforms that could stabilise key macro variables, but notes manufacturers remain exposed to structural constraints—energy costs, logistics bottlenecks, and expensive financing.

    Industry voices continue to push for a predictable policy environment and practical support that reduces operating costs, warning that growth projections can be missed if business conditions tighten.

    Validation: Vanguard reported MAN’s forecast and quoted: “Real growth is projected to reach 3.1 percent… contribution… rise to 10.2 percent.” AllAfrica carried CPPE-linked commentary warning that “Nigeria’s manufacturing revival hinges on managing structural risks…”

    Echotitbits take: Manufacturing is one of the fastest routes from ‘GDP growth’ to jobs. Watch Q1 indicators—grid stability vs. self-generation costs, FX predictability for imported inputs, and whether tax reforms reduce friction rather than add new compliance pain.

    Source: The Punch — 2026-01-02 (https://punchng.com/manufacturing-tipped-for-3-1-growth-10-2-gdp-contribution/)
    The Punch 2026-01-02

    Photo Credit: The Punch

  • Regulator says petroleum vessel approvals are faster, with most clearances now under 24 hours

    Regulator says petroleum vessel approvals are faster, with most clearances now under 24 hours

    2026-01-02 09:00:00
    In an update published by Punch, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says it has accelerated petroleum vessel clearance processes, reporting that most approvals are being granted in under 24 hours.

    The regulator presents the change as a throughput push to reduce delays that translate into higher landing costs, demurrage exposure and supply disruptions.

    Industry observers note that clearance speed only becomes meaningful if port-side coordination—terminal readiness, documentation and inspections—matches regulator timelines.

    Validation: MarketForces quoted the regulator’s service-level framing, noting “accelerated approvals and permits under clear service-level agreements.” Extractive360 also reported the same theme and described the push as “accelerating permits under clear service-level timelines.”

    Echotitbits take: If NMDPRA’s clearance gains are consistent, the downstream market benefits via steadier supply and lower friction costs. Watch for published performance data and whether Customs/NPA/terminal operators align—multi-agency alignment is the real test.

    Source: The Punch — 2026-01-02 (https://punchng.com/nmdpra-speeds-up-petroleum-vessel-clearance-processes/)
    The Punch 2026-01-02

    Photo Credit: Premium Time

  • 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

  • Tin Can Customs surpasses 2025 target, hits ₦1.576tr in collections

    Tin Can Customs surpasses 2025 target, hits ₦1.576tr in collections

    Photo Credit: The Nation
    2025-12-24 07:22:00

    In an update published by The Nation, the Tin Can Island Port Command of the Nigeria Customs Service says it exceeded its 2025 revenue target, citing stronger enforcement and improved processes.

    The command reported collections of about ₦1.576 trillion—roughly ₦51.8 billion above its assigned target—pointing to key import categories as revenue drivers.

    Officials say fewer multiple alerts helped speed up turnaround time without weakening controls, while enforcement activities continued alongside revenue collection.

    The Guardian backed the same development, quoting the controller: “Let me state unequivocally that the attainment of our annual revenue target does not in any way signify a relaxation of operational standards.” DMarketForces also reported the milestone and quoted him saying: “The command was given a revenue target of N1.524 trillion for 2025 and exceeded it…”

    Echotitbits take: Customs revenue growth is positive, but Nigeria also needs predictable, transparent port processes. Watch for whether clearance time improves and whether other commands replicate the efficiency gains without raising trade costs.

    Source: The Nation — December 23, 2025 (https://thenationonlineng.net/tin-can-island-port-customs-surpasses-2025-revenue-target-by-n51-8bn/)
    The Nation 2025-12-23

  • Yule travel boost: FG temporarily opens Bodo–Bonny Road to ease movement

    Yule travel boost: FG temporarily opens Bodo–Bonny Road to ease movement

    Photo credit: The Punch

    2025-12-22 09:00:00

    According to *The Punch*, the Federal Government has temporarily opened the Bodo–Bonny Road corridor to ease movement for residents during the yuletide period, offering partial relief on a long-awaited route.

    The opening is being framed as a humanitarian and economic lift for communities whose travel and commerce have been constrained for years by difficult terrain and limited road access.

    Authorities say the temporary access is meant to improve safety and reduce travel bottlenecks, even as construction continues toward full completion.

    For residents and businesses, the real benefit is time-cost: faster transport can lower prices of goods, shorten emergency response times, and improve local trade flow.

    A Ministry of Information/official government release described the road as “temporarily opens, connecting communities and commerce,” while *The Guardian (Nigeria)* also reported the project as a major yuletide milestone and quoted the framing around safer travel on the legacy route.

    **Echotitbits take:** Temporary openings are good headlines—but the public will judge by durability. Watch the restrictions (hours/vehicle types), security presence, and whether the final completion timeline holds in early 2026.

    Source: The Punch — December 22, 2025 (https://punchng.com/fg-opens-bodo-bonny-road-ahead-of-yuletide/)

  • 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/)

  • Customs Extends Fast-Track Scheme Deadline for Importers

    Customs Extends Fast-Track Scheme Deadline for Importers

    Photo Credit:Punch Newspapers

    The Nigeria Customs Service has extended the deadline for importers participating in its fast‑track cargo clearance scheme to January, offering more time to regularise documentation and obligations. The initiative, which grants compliant traders accelerated clearance, is part of reforms to decongest ports and improve the ease of doing business.

    Customs spokesperson Abdullahi Maiwada said the extension followed appeals from operators and aims to prevent disruptions to supply chains during the festive season. He added that only importers with strong compliance records will continue to benefit, reinforcing the link between regulatory discipline and trade facilitation.

    Source: Punch Newspapers – 12 Dec 2025

    2025-12-12 10:00:00 Punch Newspapers – 12 Dec 2025 2025-12-12

  • Lagos Launches ₦150bn CNG Trucks Financing Scheme

    Lagos Launches ₦150bn CNG Trucks Financing Scheme

    Lagos State has unveiled a ₦150bn CNG Trucks Scheme to provide structured financing for operators to acquire gas-powered trucks. Governor Sanwo-Olu says the PPP programme will cut haulage costs and diesel dependence.

    PUNCH, 11 Dec 2025