Business
Oyetola Assures Fast Completion of Bakassi Deep Seaport
Oyetola noted that once the deep seaport comes up, it would place Nigeria as the hub of trans-shipment in the African region.
Minister of Marine and Blue Economy, Adegboyega Oyetola, has assured Cross River State Governor, Bassey Otu, that he would not allow bureaucracies to slow down the actualisation of the Bakassi Deep Seaport project.
In a post via his X handle on Wednesday, an aide to the minister, Ismail Omipidan, quoted the minister to have given the assurance when he received the governor on a courtesy visit to his office.
Oyetola noted that the natural depth of the seaport, which the Cross River Government put between 17 to 21 meters deep, would reduce the cost of capital dredging.
Oyetola noted that once the deep seaport comes up, it would place Nigeria as the hub of trans-shipment in the African region.
Because of the low drought of our major seaports, most large containers that are meant for Nigeria are diverted to other African countries.
So, I see the project as a welcome development and I assure you that we would drive the project as fast as you want, and I assure you, bureaucracy will not have a way here,” the minister added.
On his part, Otu said he was at the ministry to seek the collaboration of the minister to see to the fruition of the Bakassi Deep seaport Project, under a public-private partnership model.
He noted that the project was part of the state’s strategic integrated infrastructure plan to promote and facilitate trade around that corridor, to stimulate the state economy in particular and that of Nigeria in general.
While commending the minister for laying a solid foundation in the ministry, the governor noted that with the private sector background of the minister, he was not in doubt about the success of the Bakassi Deep Seaport Project
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Business
Traders shut down Enugu ‘s Obollo-Afor market over N25,000 haulage levy
However, Chairman of ESIRS, Emmanuel Nnamani, in a letter to the traders, said the haulage levy was not paid by traders buying or selling goods in the markets, but was applicable strictly to truck drivers plying interstate routes.
All shops and markets at Obollo-Afor, Udenu Local Government Area of Enugu State were shut yesterday, as traders staged a peaceful protest against alleged selective collection of a N25,000 haulage levy in the market.
The traders, who locked their shops and took to the streets in large numbers, carried placards with various inscriptions, alleging that the Enugu State Internal Revenue Service (ESIRS) had singled out Obollo-Afor Market for the collection of N25,000 haulage fee on every truckload of goods loaded or offloaded in the market.
However, Chairman of ESIRS, Emmanuel Nnamani, in a letter to the traders, said the haulage levy was not paid by traders buying or selling goods in the markets, but was applicable strictly to truck drivers plying interstate routes.
Addressing officials of the Udenu Local Government Council at the council secretariat, where the protesters marched to present their grievances, Chairman, Obollo-Afor Market Traders Association, Charles Eze, lamented that truck operators bringing foodstuffs, building materials, and other commodities to the market had stopped coming because of the levy.
Business
Nigeria’s oil production dropped by 4% in July – NUPRC
“In the month under review, the daily peak production of crude oil and condensate was 1.78mbpd, while the lowest daily production was 1.57mbpd.”
The Nigerian Upstream Regulatory Commission (NUPRC) data has shown Nigeria’s average daily oil production fell by four percent in July, 2026.
According to the NUPRC, Nigeria produced 1.505 million barrels per day (bpd) of crude oil and 0.17 million bpd of condensate, bringing the combined daily production to 1.67 million bpd.
The commission said the country met and exceeded its Organisation of the Petroleum Exporting Countries (OPEC) quota of 1.5 million bpd for the third consecutive month.
“In the month under review, the daily peak production of crude oil and condensate was 1.78mbpd, while the lowest daily production was 1.57mbpd.”
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