Business &Economy
Ondo Secures Fresh FG Licence for Deep Sea Port Project
Ondo State has secured a revalidated federal licence to proceed with its proposed deep sea port, clearing a key regulatory hurdle for one of the state’s biggest infrastructure ambitions.
Governor Lucky Orimisan Aiyedatiwa received the renewed approval from the Minister of Marine and Blue Economy, Adegboyega Oyetola, during a brief ceremony in Abuja on Thursday.
The licence was first granted in 2023 under former President Muhammadu Buhari but was returned for correction after errors were discovered in the original document.
Following the revalidation, the Ondo State government says it is now ready to move towards construction.
Speaking after receiving the document, Governor Aiyedatiwa said the port would operate as a major international trade hub, serving not only Ondo State but Nigeria and parts of West Africa.
He said infrastructure of such scale could not be limited to state-level use, describing the project as a gateway for global commerce and industrial expansion.
According to the governor, the proposed port has a natural draught of about 18 metres, deep enough to accommodate very large vessels that cannot berth at many existing Nigerian ports.
He said this capacity would allow ships to sail directly into Ondo waters, eliminating the need for trans-shipment through other ports, particularly in Lagos.
Governor Aiyedatiwa added that the project’s economic impact would go beyond cargo handling.
He said once construction begins, the state expects increased human and commercial traffic, including financial services, humanitarian operations and hospitality-related activities.
The governor thanked the federal government for fast-tracking the revalidation process, describing it as a critical step towards unlocking the project’s economic potential.
Why this matters
Nigeria’s ports remain heavily concentrated around Lagos, contributing to congestion, high logistics costs and delays in cargo movement.
A functioning deep sea port in Ondo could ease pressure on existing ports, expand export capacity and improve access to international shipping routes.
For businesses and consumers, this could translate into faster trade flows, lower transport costs and broader economic activity across the South-West and beyond.
What’s next
The Ondo State government says preparatory work will begin ahead of full construction, although timelines and funding details are yet to be announced.
Observers say the next critical steps will include investor mobilisation, environmental assessments and supporting road and rail infrastructure.
Business &Economy
Nigeria Customs Seeks Changes to 2023 Law as Digital Reforms Gather Pace
The Nigeria Customs Service is seeking amendments to the law governing its operations, saying parts of the three-year-old legal framework are no longer suited to the speed at which international trade and customs technology are changing.
The request was made during a capacity-building retreat for the Senate Committee on Customs, Excise and Tariffs on 5 August 2026, where Comptroller-General of Customs Adewale Adeniyi urged lawmakers to understand the Service’s ongoing reforms before exercising legislative oversight.
The timing is significant. The Nigeria Customs Service Act 2023 replaced several older customs laws and was itself introduced as a modern framework intended to bring customs administration closer to contemporary international practice.
“While some provisions had worked as intended, others had proved difficult to apply or had been overtaken by the rapidly changing trade environment. We are requesting considerable amendments to ensure the Act remains relevant to fast-moving trade policies and supports the Service’s modernisation agenda.”
Why the law matters
The Nigeria Customs Service Act 2023 gives Customs responsibility for collecting customs and excise revenue, administering relevant trade and fiscal policies, facilitating legitimate trade and preventing smuggling and customs fraud. It also provides a statutory basis for electronic customs administration and other modern processes.
The law therefore already anticipates a more technology-driven Customs Service.
Customs points to digital reforms
At the retreat, Deputy Comptroller-General Tijani Abbey listed several initiatives being implemented by the Service.
They include the B’Odogwu Trade Management System, intelligence-led post-clearance audits, the Authorised Economic Operator programme, coordinated border management and greater end-to-end digital integration.
Customs says these measures are intended to increase revenue, make legitimate trade easier and strengthen border security.
B’Odogwu is already being presented by the Service as its indigenous digital customs platform. Customs says the system is designed to bring traders, licensed agents and government agencies into a more integrated digital environment.
The Service has also previously reported substantial revenue associated with the platform. Its May 2026 newsletter said B’Odogwu generated more than N230bn at the PTML Command within its first eight months of deployment and that clearance times for compliant traders had fallen to less than eight hours.
Revenue pressure adds another dimension
The legislative discussion is taking place as Customs assumes a much larger role in Nigeria’s revenue mobilisation.
The Senate approved an N11.074tn revenue target for Customs for 2026 after the Service reported collecting N7.277tn in 2025, exceeding its N6.584tn target by N674.1bn, or 10.24%.
The 2026 target is therefore substantially higher than the previous year’s actual collection.
Senate promises legislative support
Senator Isah Jibrin, chairman of the Senate Committee on Customs, Excise and Tariffs, praised the Service’s revenue performance and said lawmakers were prepared to provide statutory support where necessary.
“What you need to do is to identify your challenges, try to address them as much as possible, so as to have a much more robust, inclusive, and beyond-budget performance. Where you require legislative backing, please do not hesitate to call on us.”
Adeniyi was also congratulated at the retreat on his re-election as chairperson of the World Customs Organisation Council, a position the Presidency has described as recognition of Nigeria’s growing role in global customs administration.
Business &Economy
National Impact Glitz Magazine Names Bola Muse, Henrietta Badejo as Mothers of the Day at 17th Anniversary
A Lagos media organisation has announced that maritime entrepreneur Hajia Idayat Bola Muse and the Registrar of Yaba College of Technology (YABATECH), Dr Mrs Henrietta Adebola Gbemisola Badejo, will be honoured as “Mothers of the Day” during its 17th anniversary celebration and awards ceremony.
According to organisers, the event will take place at Presken Hotel and Resorts in Ikeja and will include a public lecture examining Nigeria’s economic challenges under the theme: “Nigeria’s Growth Paradox: Unlocking the Economy’s Full Potential and Creating Agenda for Nigeria’s 2027 Presidency.”
The announcement comes as conversations around Nigeria’s economic future and preparations for the 2027 general election continue to gather momentum, with business groups, civil society organisations and policy experts increasingly proposing reforms aimed at improving growth, employment and governance.
Recognition alongside policy discussion
National Impact Glitz Magazine, published by Lumen Impact Communications, said the anniversary programme will feature keynote speeches, awards and the unveiling of a documentary chronicling its 17-year history.
The publication said Hajia Bola Muse was selected because of her contributions to Nigeria’s maritime, freight forwarding and logistics sectors, as well as her philanthropic work.
Muse is the founder and chief executive of Bomarah Group and has served in several industry positions, including membership of the Nigerian Ports Consultative Council’s Port Operations and Logistics Committee and leadership roles within the Association of Nigerian Licensed Customs Agents (ANLCA).
The organisers also highlighted her role as President of Women in Maritime Africa (Nigeria Chapter), where she promotes women’s participation in the maritime industry, and her charitable activities through the Bomarah Foundation.
Similarly, the magazine cited Dr Henrietta Badejo’s administrative leadership at YABATECH as the basis for her recognition.
Having joined the institution in 2001, she rose through the administrative ranks before becoming Registrar. The organisers said she has focused on improving administrative processes, promoting academic integrity, strengthening certificate verification systems and supporting partnerships designed to improve graduate employability.
Why does it matter?
Professional recognition events are common across Nigeria’s media, education and business sectors. Supporters argue they encourage excellence and highlight role models, particularly women occupying leadership positions in traditionally male-dominated fields such as maritime transport.
However, governance experts have frequently argued that public lectures accompanying award ceremonies should produce concrete policy recommendations rather than ending as one-off discussions.
Nigeria continues to face significant economic challenges, including high inflation, unemployment, foreign exchange pressures and infrastructure deficits. Economists have repeatedly stressed that addressing these issues requires sustained policy implementation rather than isolated conferences.
Women’s leadership in focus
The selection of both honourees reflects the increasing visibility of women in leadership across sectors including higher education and maritime logistics.
Although women remain underrepresented in senior positions within Nigeria’s maritime industry, organisations such as Women in Maritime Africa have continued to advocate greater participation through training, mentorship and policy engagement.
In higher education, administrators such as registrars play critical roles in admissions, personnel management, governance and institutional reforms, even though their contributions often receive less public attention than those of vice-chancellors or rectors.
What happens next?
The anniversary event is expected to bring together policymakers, business leaders, academics and media professionals in Lagos.
Whether the discussions generate practical recommendations that influence public debate or government policy will become clearer after the conference concludes and any resolutions are made public.
Business &Economy
Blue Economy: Why Nigeria Must Prioritise Maritime Sector for Jobs and Growth
Nigeria should prioritise the blue economy above all other sectors to drive job creation, reduce poverty and diversify from oil, according to a senior official at the Nigerian Maritime Administration and Safety Agency (NIMASA).
In an opinion piece, Chika Chukwudi — author of Blue Economy: Gateway to a Sustainable Future and a staff member of NIMASA — argued that maritime investment is no longer optional but a “strategic national imperative”.
She said Nigeria’s 850-kilometre Atlantic coastline and access to the Gulf of Guinea position it as a natural maritime powerhouse.
Yet, she noted, the sector contributes far below its potential to national GDP.
“A nation surrounded by water should not be surrounded by economic stagnation,” she wrote.
Why It Matters
Nigeria has long depended on crude oil revenues, leaving its economy exposed to global price shocks.
According to global trade estimates, more than 80% of world trade by volume is carried by sea — a figure experts say Nigeria has not fully leveraged.
Chukwudi argues that expanding ports, fisheries, aquaculture, shipping and coastal tourism could generate millions of jobs across skill levels.
From artisanal fishermen to marine engineers and port managers, she said the sector has unmatched employment capacity.
“If properly harnessed, the blue economy can become Nigeria’s largest employer of labour,” he stated.
Job Creation and Poverty Reduction
Poverty remains most severe in rural and coastal communities, many of which are located near water resources.
Chukwudi said investments in modern fishing techniques, cold storage facilities and export systems could raise incomes at grassroots level.
He added that women in fish processing and marketing, as well as young entrepreneurs in aquaculture, stand to benefit.
Diversification Beyond Oil
For decades, Nigeria’s revenue has fluctuated with oil prices.
Strategic port modernisation, indigenous shipping development and marine renewable energy projects could attract foreign investment and reduce capital flight, Chukwudi said.
She also pointed to opportunities under the African Continental Free Trade Area (AfCFTA), where maritime infrastructure could position Nigeria as a regional trade gateway.
Security and Regional Influence
Beyond economics, maritime investment could strengthen national security.
Improved naval surveillance and port systems may reduce piracy and illegal fishing in the Gulf of Guinea — a region previously identified as a piracy hotspot.
Some shipping operators argue that port congestion and high operating costs must be addressed before Nigeria can compete with other African maritime hubs.
What’s Next?
Chukwudi called for prioritising maritime education, strengthening institutions and expanding coastal infrastructure.
She urged the Federal Government to finance aquaculture enterprises and support indigenous shipping lines.
“The blue economy is not just another sector; it is a sleeping giant,” she wrote. “Nigeria’s prosperity lies not only beneath its soil, but upon its waters.”
Whether policymakers will elevate maritime investment above competing priorities remains to be seen.
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