Business

NPA Jerks Ports tariff to 15% for Infrastructural Competitiveness

At a stakeholders meeting in Lagos, the Managing Director of NPA, Dr. Abubakar Dantsoho represented by Olalekan Badmus, Executive Director Marine and Operation said the management decision to meet stakeholders was borne out of desire to carry everyone along.

Published

2 years ago

February 6, 2025

OCHEFA

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The Nigerian Ports Authority (NPA) says on Thursday that it has secured the government’s approval to raise ports tariffs to 15 percent.

In a statement on the Ports page via X , NPA said :” This adjustment, the first since 1993, is intended to enhance the efficiency and competitiveness of Nigerian ports.

The 15% upward increase which is to cut across all NPA Rates and Dues is premised on the urgent need to address the undesirable reality of aged and weak Infrastructure, obsolete equipment and slow Port capacity expansion which has continued to diminish the performance and indeed competitiveness of Nigerian Ports.”

It noted that globally, Port Authorities depend on revenue from operations to stay alive to their responsibilities which includes construction and maintenance of Port infrastructure, dredging of channels, provision of aids for safe navigation, provision of modern marine crafts for efficient harbour services, automation and digitization of port transactions, port security, energy efficiency and training and retraining of its employees.

“The global index of Port rating and competitiveness which the international trade community relies on for its choice of countries to do business with, derives its data from how well the aforementioned responsibilities are addressed.

Coming at this period of global economic upheaval and scramble for markets, this belated Tariff review borne out of necessity constitutes a critical success factor in Nigeria’s quest to win back cargo handling business and it’s accompanying benefits including job opportunities it had lost to it’s maritime neighbors.

At the meeting, Mr. Joshua Asanga, a stakeholder agreed with the increase, and listed port management liabilities like wages, fuel and other areas of expenditure as having adjusted upwards without a commensurate rise in NPA charges for over thirty years.

He added that NPA needs funds for improved port infrastructure, robust ICT for Port Community System, procurement of tug boats and other operational platforms to achieve efficiency

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Business

Dangote Refinery’s IPO Ends Tomorrow

“The level of investor interest reflects growing confidence in our business and in the strong financial results we have delivered,” the company said.

Published

2 days ago

October 26, 2026

OCHEFA

37 Views

[File photo] Opening ceremony of Dangote Refinery’s IPO on the NGX, September 14,2026

Dangote Petroleum Refinery & Petrochemicals has confirmed that its Initial Public Offering (IPO) will close on Tuesday, 27 October 2026 as scheduled, with no extension.

In a statement, the management said that the IPO has become a historic ownership moment, an opportunity for Africans at home and abroad to own a stake in one of the continent’s most strategic industrial assets.

“Investors recognise that this refinery is not merely an energy asset. It is a platform for industrial growth, foreign-exchange generation, regional trade, energy security and economic development across Africa,” management said.

The offer was structured to ensure ordinary investors participate alongside institutions, broadening ownership of the world-class asset.

“The level of investor interest reflects growing confidence in our business and in the strong financial results we have delivered,” the company said.

Business

Dangote Visit London Stock Exchange Ahead of November Cement Listing

Unlike an initial public offering, a secondary listing would let Dangote Cement, already listed on the Nigerian Exchange, set up an additional presence in London.

Published

2 days ago

October 26, 2026

OCHEFA

54 Views

Aliko Dangote visited the London Stock Exchange on Friday, October 23, 2026, as Dangote Cement Plc prepares a proposed $1 billion share sale and a secondary listing in the United Kingdom.

The company is reportedly targeting November 2026 for the listing, subject to market conditions and regulatory approval.

A video circulating on social media captured the visit, with exchange officials and attendees welcoming Africa’s richest man.

The trip is part of efforts to pull international investment into his business empire.

The proposed deal could see Dangote Cement offer about 10% of its equity to international investors, potentially raising roughly $1 billion.

The final timetable is not fixed and remains subject to market conditions and regulatory requirements.

Unlike an initial public offering, a secondary listing would let Dangote Cement, already listed on the Nigerian Exchange, set up an additional presence in London.

That could raise the company’s visibility with international institutional investors, including pension funds, asset managers and other investment firms.

The share sale has not been completed. Its final structure, valuation and pricing are still subject to confirmation.

Business

Olagunju to head JPMorgan’s Proposed Nigerian Merchant Bank

The proposed bank would expand JPMorgan’s presence beyond its representative office in Lagos. It could undertake a broader range of regulated banking activities after securing a final licence.

Published

2 days ago

October 26, 2026

OCHEFA

46 Views

The Central Bank of Nigeria has granted JPMorgan approval-in-principle to establish a merchant bank in Nigeria.

The regulator also approved Adedapo Adedayo Olagunju as Managing Director of the proposed JPMorgan Merchant Bank Nigeria Limited.

The approval came on Friday, October 23, 2026. The bank has not received its final operating licence.

Olagunju has led JPMorgan’s West African operations since 2018.

He is an Oxford-trained banker with more than two decades of experience in treasury management, financial markets, institutional banking and structured finance.

His appointment puts him in line to head the American bank’s proposed Nigerian merchant bank once final licensing is completed.

The CBN also approved four non-executive directors and three independent non-executive directors for the proposed institution.

The proposed bank would expand JPMorgan’s presence beyond its representative office in Lagos. It could undertake a broader range of regulated banking activities after securing a final licence.