Business
Manufacturers Kick Against 15% Increment in Port Tariffs; Give Reasons
Many manufacturers who operate as tenants in NPA facilities will also face escalated costs, which could significantly disrupt the slight moderation in the mounting challenges that has bedeviled the manufacturing sector in recent times.

▪︎Segun Ajayi-Kadir, MAN Director-General
The Manufacturers Association of Nigeria (MAN), having consulted widely with its members across the country, expresses grave concern over the proposed 15% increase in port-related charges by the Nigerian Ports Authority (NPA).
In a position statement released by Segun Ajayi-Kadir, MAN Director-General, on Sunday, said that the proposed increment is coming up at a time when businesses are struggling with the rising cost of operations, high rate of foreign exchange, astronomical energy costs, and general economic uncertainties, imposing additional financial burdens on manufacturers through increased port tariffs will exacerbate the challenges faced by the real sector.
Port Operations and Their Impact on Manufacturing
Ports are the gateway to international trade and play a crucial role in the efficiency and cost-effectiveness of business operations.
According to the United Nations Conference on Trade and Development (UNCTAD) 80% of Nigeria’s traded goods are transported by sea, with 70% of total imports and exports in West and Central Africa destined for Nigeria.
This underscores the critical role Nigerian ports play in facilitating trade and industrial productivity.
For manufacturers, port-related charges constitute significant indirect costs, as most raw materials and industrial machinery are imported through these ports.
Any increase in charges will have a ripple effect, leading to higher production costs, increased inflationary pressures, and reduced competitiveness of locally manufactured goods.
Many manufacturers who operate as tenants in NPA facilities will also face escalated costs, which could significantly disrupt the slight moderation in the mounting challenges that has bedeviled the manufacturing sector in recent times.
The Economic Realities and Global Competitiveness
Nigeria’s current economic climate is characterized by rising inflation, foreign exchange challenges, and declining industrial capacity utilization.
Many businesses are experiencing worrying downturn due to unsustainable operating costs. Increasing port tariffs is therefore ill-timed and could signal a departure from government’s avowed efforts and commitment to the ease of doing business.
It is inevitable that this additional strain on industrial activities will ultimately lead to reduce capacity utilization and possibly job losses.
Furthermore, Nigeria must remain competitive in regional trade. Neighboring countries with more efficient and cost-effective ports will become far more attractive alternatives, leading to increased cargo diversion.
This will not only reduce revenue for the Nigerian government but will encourage smuggling and other untoward trade practices that weaken our economy.
Alternative Approaches to Revenue Generation
While we acknowledge the need for revenue generation, increasing port tariffs could be counterproductive in the long run.
The real issues affecting port revenue include:
Port congestion and inefficiency:
Reducing turnaround time for vessels and improving cargo-clearing processes can significantly boost revenue.
High demurrage charges:
Addressing bureaucratic bottlenecks that delay cargo clearance will ensure faster throughput and more efficient revenue collection. Infrastructure investment: Improving port infrastructure will enhance operational efficiency and attract more business, leading to natural revenue growth.
Competitive pricing strategies:
Instead of raising tariffs, aligning Nigerian port charges with global best practices will encourage more trade volume and increase overall earnings.
Our Appeal to the Nigerian Ports Authority
The Manufacturers Association of Nigeria’s implores the NPA to shelve the proposed 15% tariff increase and instead, collaborate with stakeholders to explore sustainable alternatives for revenue generation.
Increasing tariffs in the current economic climate will have dire consequences, including:
1. Increased cost of production, leading to higher prices of goods and fanning inflation.
2. Reduced competitiveness of Nigerian manufacturers in local and international markets.
3. Increased smuggling due to high costs at Nigerian ports compared to neighboring countries. 4. Decline in government revenue due to lower cargo turn out and manufacturing downturn.
Rather than imposing additional financial burdens on businesses, we propose a stakeholder dialogue to explore strategies for enhancing port efficiency, reducing operational bottlenecks, and creating a more business-friendly environment that will ultimately lead to increased revenue without undermining industrial growth and competitiveness.
We earnestly advocate for caution and deep reflection on the part of the NPA, as a key stakeholder in Nigeria’s economic development.
NPA’s consultation with key economic actors after it has decided on the increase is tantamount to putting the cart before the horse and does not demonstrate goodwill.
We call on NPA to rescind the planned increase in order to avert a monumental downturn in the fortunes of businesses in Nigeria.
The manufacturing sector can ill-afford such an increase at this time; it runs against the present administration’s efforts at making Nigeria a trading hub in the West African sub-region, and would definitely constitute a drag in the efforts of government to stabilize the economy in the year 2025.
Business
FG collected N6.9 billion mining fees across Nigeria in Q1 2025 – Dele Alake
Alake disclosed this via his official X page on Monday.

The Minister of Solid Minerals Development, Dr. Dele Alake, has announced that in Q1 2025, the federal government collected N6,957,826,200 in mining fees across Nigeria.
Alake disclosed this via his official X page on Monday.
“I am pleased to share some exciting developments in the mining sector; in the first quarter of this year, the Federal Government collected an impressive N6,957,826,200 in mining fees and registered 118 new private mineral buying centers,” he stated.
Source: Nairametrics.
Business
The Untapped Wealth in Inherited Family Lands: Turning Ancestral Property into Profitable Real Estate Investments in Nigeria by Dennis Isong

In Nigeria, we often hear things like: “That land in the village belongs to my grandfather.”
“Our family land has been there since I was a child.” “We just leave it there. Nobody touches it.
“What if I told you that the land you inherited from your father, grandfather, or even great-grandmother might just be sitting on gold — not literal gold, but real estate potential that could start making you money today?
Let’s break it down.
1. The Emotional vs Economic Value of Inherited Land
Many families in Nigeria attach deep emotional and cultural value to ancestral land.
It’s a symbol of roots, heritage, and continuity. But while emotions are valid, leaving valuable property to gather bush and termites does not honor the legacy — it stagnates it.
Ancestral land should not just be a memory bank; it should be a financial engine.
2. Common Myths That Keep Family Lands Idle
Let’s address the biggest myths: “It’s just bush, what can I do with it?” That bush is someone’s dream site for a school, farm, event center, or warehouse.
“We don’t want to sell our heritage.” Who says you must sell it? You can lease, rent, or build and still retain ownership.
“There’s a land dispute in the family.”
Then resolve it. Land conflict delays wealth. Engage a legal mediator and document ownership properly.
“It’s in the village, nobody will rent there.” These days, villages are turning into towns. Many urban workers are relocating to semi-rural areas because of cost and quiet.
People now work in the city and sleep in the village.
3. Real Possibilities:
What You Can Do With Inherited Land
Let’s talk about how to transform that “useless” land into profit:a) Agribusiness Lease
If you don’t have money to farm it yourself, lease the land to an agro-entrepreneur. Nigeria’s food needs are rising, and farmland is gold.b)
Event Center or Open Space Rental
Got family land with space? Flatten it, clear it, fence it, and start renting it out for weddings, parties, and church crusades.
Rural areas love open-air events.c)
Build Low-Cost Housing for Rent
Build a few 1-bedroom bungalows or mini-flats.
People are moving to outskirts like Ikorodu, Mowe, and Ifo. Affordable housing is in demand. d )
Warehouse or Storage Facilities
Urban traders need warehouse space in cheaper locations. Rural lands close to main roads are perfect for this.e)
Instead of leaving the land idle and arguing over it during Christmas family meetings, why not take charge and begin something that creates cash flow?
Partner with Developers
You bring the land, they bring the money. A good joint venture agreement can turn idle land into profit-yielding property while you still retain your rights.
4. Legal Steps You Must Not Ignore Before you do anything, please make sure of the following:
Proper Documentation: Make sure the land has a Deed of Assignment, survey plan, and preferably a Certificate of Occupancy or Governor’s Consent if within a government-acquired zone.
Family Agreement:
If it’s a family land, gather everyone and get a written agreement to avoid “wahala” later.
Registered Company (Optional): Consider registering a business to manage the land, especially if you’re building rentals or leasing. Get a Lawyer: Never cut corners.
A good property lawyer will save you stress, especially for joint ventures or leasing contracts.
5. True-Life Example: From Bush to Blessing.
Mr Tunde inherited a 2-acre land in Ilaro, Ogun State. For 10 years, it was just a yam farm.
In 2022, he cleared it, fenced it with blocks, built a borehole, and put plastic chairs under canopies. He started renting it out as an event ground. Today, every Owambe weekend earns him 100k-200k. All from “just family land.” Imagine that.
6. From Liability to Legacy
Family lands can move from being a burden to being a blessing.
Instead of leaving the land idle and arguing over it during Christmas family meetings, why not take charge and begin something that creates cash flow?
Think of it this way: Instead of telling your children, “This land belongs to your grandfather,”
You can say: “This property feeds our family today, and will feed yours tomorrow.”
7. Final Thoughts
It’s time to change our mindset. Not all real estate investment starts with buying new land. Sometimes, the land has already been given to you — free of charge.
The true investment is in your vision.Don’t wait till that land becomes an illegal dump site or is taken over by “omo onile” drama.
Begin today. Inspect it. Clear it. Value it. Use it. Your next real estate breakthrough might be hiding in your father’s backyard.
And if you ever need someone to help you inspect, plan, or connect you to builders, surveyors, or developers… you know who to call — Me, the real estate preacher with a sprinkle of bush-to-business miracles!
Business
CBN warns BDCs, banks to tighten compliance on anti-money laundering, counter-terrorism regulations

The Central Bank of Nigeria has warned licenced Bureau De Change Operators and financial institutions in the country against violating its anti-money laundering and counter-terrorism financing framework.
The apex bank issued this warning in a circular signed by its director of compliance department, Amonia Opusunju on Thursday.
CBN vowed to impose sanctions on BDC operators who failed to adhere to its regulatory framework.
“BDC operators are reminded that they are required to fully comply with the provisions of the Money Laundering (Prevention and Prohibition) Act, 2022; the Terrorism (Prevention and Prohibition) Act, 2022; and the Regulatory and Supervisory Guidelines for Bureau de Change Operators in Nigeria, 2024,” CBN said.
“Any other relevant laws, regulations, and guidelines issued by the CBN and Nigerian Financial Intelligence Unit (NFIU).
“All BDCs are advised to ensure that their operations, staff training, transaction monitoring, and customer onboarding procedures are always fully compliant with applicable requirements,” the apex bank said.
Similarly, CBN also urged all financial institutions in Nigeria to tighten compliance with both domestic and international sanction lists, including the United Nations Consolidated Sanctions List and the Nigerian Sanctions List, in line with the Terrorism (Prevention and Prohibition) Act 2022 and others.
“Financial institutions are required to maintain a robust and dynamic sanctions compliance framework that enables them to identify and respond promptly to updates or changes across all applicable sanctions lists; prevent the use of their systems and platforms for transactions involving designated individuals or entities; conduct real-time screening of customers, transactions, and beneficial owners; and file appropriate reports with the Nigerian Financial Intelligence Unit and notify the CBN, where necessary,” the circular partly reads.
Recall that on February 27, 2024, the financial regulator approved the sale of foreign exchange (FX) to BDC operators, reversing its decision to halt FX sales to the BDCs in 2021.
Meanwhile, on February 6, 2025, the apex bank introduced new regulations limiting BDC operators to purchasing a maximum of $25,000 per week from a single bank.
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