Business
FG inaugurate collaborative task team on overtime cargoes at ports
The Federal Government has inaugurated a collaborative task team of the Nigerian Ports Authority, Nigeria Customs Service, Federal Ministry of Transportation, saddled with responsibility of addressing lingering issues of overtime cargoes at the national seaports and terminals while also proffering best-case situations on how the cargoes can be cleared.
While inaugurating members of the task team in Abuja, Permanent Secretary, Federal Ministry of Transportation and Chairperson of the Committee, Dr Magdalene Ajani, said the inability to clear overtime cargoes at the ports and terminals had affected the number of cargoes that can be handled due to limitation of space.
Also, Ajani observed that this has resulted in a drastic drop in the volume of cargo coming into the country, adding that the reduction in cargoes has ultimately affected Internally Generated Revenue which is now lost to the neighbouring countries, while explaining that the clearing of overtime cargoes should not be confined to the Ikorodu Lighter Terminal, Lagos Port Complex, and TinCan Island Port Complex but all other ports and terminals within the country.
On the composition of the task team, Ajani said, ”It was a result of a series of meetings between the Minister of Transportation, Mu’azu Sambo and the Comptroller General, Nigeria Customs Service, and the Permanent Secretary, FMT, Dr Magdalene Ajani.”
Ajani, in a statement by the Director, Press and Public Relations of the ministry, Henshaw Ogubike, called on the task team to bring their professionalism to bear in the discharge of the onerous task.
Ajani, while reading the “Terms of Reference” said the team work includes but not limited to confirming the inventory of submission by the NPA on the actual number of overtime cargo in the ports and other locations; conducting a joint examination of all such cargo to determine contents suitable for use or consumption; providing a list separating goods for disposal by public auction and those to be deposed by condemnation/destruction.
“Others include gazetting all cargoes identified as overtime for disposal; determining the methodology for public auctioning at various ports/locations; determining the recoverability of part of the Terminal Operator’s revenue arising from long occupation of economic spaces and transfer charges; ensuring that the process is in conformity with applicable customs practices and any other task that may arise in the cause of the assignment.”
Responding on behalf of the team, Comptroller Adekunle Oloyede of the NCS, assured that the task team is a one-stop shop that will certainly unravel the overtime cargo challenge.
The task team is expected to submit its report within eight weeks.
Business
2026: CPPE foresees stronger growth for Nigerian economy, people and businesses
Dr Muda Yusuf, the CEO of CPPE, stressed that the periodic marginal appreciation of the Naira, strengthened business confidence, eased imported inflation and restored predictability to pricing, contracting and investment planning.
• Dr Muda Yusuf, the CEO of CPPE
The Centre for the Promotion of Private Enterprise (CPPE), has described 2025 as “a year of macroeconomic stabilisation,” for Nigeria; projecting that the economy will in 2026, transition more decisively from stabilisation to growth.
CPPE, in its review of the outgoing year, noted : ” The year 2025 marked a significant turning point in Nigeria’s macroeconomic trajectory following the turbulence associated with the early phase of the government reforms.
“Exchange-rate stability emerged as the most visible achievement, with the naira largely trading within the ₦1,440–₦1,500/US$ band.”
Dr Muda Yusuf, the CEO of CPPE, stressed that the periodic marginal appreciation of the Naira, strengthened business confidence, eased imported inflation and restored predictability to pricing, contracting and investment planning.
“Inflation decelerated sharply from 24.48 percent in January to about 14.45 percent by November 2025.
The slowdown was supported by currency stability, easing logistics pressures and improving supply conditions.
Several food items and imported consumer goods recorded outright price declines, contributing to improved consumer sentiment and reduced price volatility.”
Given the above, Dr Yusuf said that overall, 2025 laid a solid foundation of macroeconomic stability.
He said : ” The outlook for 2026 is reassuring, with expectations of stronger growth, easing inflation, improving investor confidence and a gradual shift toward more inclusive expansion.
He emphasised that if reform momentum is sustained and security challenges are effectively addressed, 2026 could mark the beginning of a more robust growth phase with tangible improvements in living standards.
Business
Nigerians consume 1.236 million terabytes mobile data Nov’25– NCC
The NCC said that seasonal factors, including holiday promotions and increased online activity, likely boosted November’s marginal rise over October.
The Nigerian Communications Commission (NCC) says that Nigerians consumed 1.236 million terabytes (1.24 petabytes) of mobile data in November 2025, a slight increase from October’s estimated 1.235 million TB.
NCC, in the November data reports, said ” Data usage climbed progressively from lower levels earlier in the year, around 983,000 TB in April amid post-tariff adjustments, to crossing the 1 million TB threshold by mid-year. June saw 1.044 million TB, July surged to 1.131 million TB (then hailed as a record), and August reached 1.152 million TB,” said the NCC.
According to the records, month-on-month gains averaged 1.8 percent in the second half, driven by recovering subscriptions, expanded 4G coverage, and insatiable appetite for video streaming, social media, and fintech services. This all-time high reflects Nigeria’s deepening digital integration.
MTN and Airtel, controlling over 85 percent of the market, benefited most, with users averaging higher per-subscriber consumption – MTN at around 13 GB monthly and Airtel nearing 10 GB.
The NCC said that seasonal factors, including holiday promotions and increased online activity, likely boosted November’s marginal rise over October.
Broader metrics reinforce the boom: Internet subscriptions hit 144.8 million in November, while broadband penetration reached 50.58 percent (109.7 million high-speed connections), up sharply from 45.61 percent in January. Active telephony lines rebounded to 177.4 million, adding 2.1 million month-on-month, pushing teledensity to 81.8 percent.
Business
ICPC: Dangote must testify in person
The agency said that the Corrupt Practices and Other Related Offences Act, 2000, does not allow proxy representation on criminal matters.It gave Dangote December 29 deadline to appear before it.
File Photo: Aliko Dangote and Farouk Ahmed
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) says that Africa’s richest man Aliko Dangote must appear personally before the Commission to testify the corruption allegations against the former against the former Chief Executive of Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Alhaji Farouk Ahmed.
The agency said that the Corrupt Practices and Other Related Offences Act, 2000, does not allow proxy representation on criminal matters.It gave Dangote December 29 deadline to appear before it.
The anti-graft commission conveyed its decision to Dangote’s lawyer, Dr. Ogwu Onoja (SAN), in a December 24 letter.
Onoja had on December 22, gone to the ICPC office to adopt the petition.But in a letter to Onoja by the Chief of Staff to ICPC Chairman, Rouqayya Ibrahim, the commission said it was necessary for Dangote to come in person.
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