Business

Shippers Council Pushing for Cargo Movements By Rail

Published

2 years ago

August 20, 2024

604 Views

The Executive Secretary of the Nigerian Shippers Council, Barrister Pius Akutah, has assured that the council will continue to push for policies that can enhance the expansion of the rail system as a major means of cargo movement from the seaport to the hinterland.

The executive secretary gave the assurance, yesterday, when he toured the Kaduna Inland Dry Port.

He said the benefits of the Memorandum of Understanding (MoU) that the council has entered into with the Nigerian Railway Corporation (NRC) were enormous noting that the efforts were being made to ensure the standard gauge from Lagos to Kano is achieved.

He highlighted the benefits of moving cargo by rail from sea ports to hinterland, he said it will reduce accidents and take away pressure on the roads.

He added, “We have saved this country billions of Naira from performing our roles through our dispute resolution.

Moves are however being made to transform the shippers bill into law to make the council a regulatory agency to address high tariffs and bring in competition so we get back the market we are losing to neighbouring countries.

He then assured that the Cargo Defence Fund will be administered to the shippers according to the judgment of the Supreme Court and urged the shippers association to be more innovative and reduce the physical handling of goods.

He informed that the council is taking steps to ensure the Legal Regime Bill, which is pending before the National Assembly is fast tracked so it can be passed by the end of the year in order to bring shipping services closer to the hinterlands.

He said that he will engage the Kaduna State government to see how the access road to the port can be completed.

Related Topics:Cargo Movement Featured Rail Shippers Council

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Naira Exchange Rates Thursday, 5 Nov 2026

Published

2 days ago

November 5, 2026

OCHEFA

131 Views

BLACK/ PARALLEL MARKET RATES

₦1400DOLLAR (USD)

₦1830POUND (GBP)

₦1515 EURO (EUR)

₦950 CANADIAN DOLLAR (CAD)

₦70 SOUTH AFRICAN RAND (ZAR)

₦350 UAE DIRHAM (AED

₦190 Chinese YUAN (CNY)

₦100 Ghanaian CEDI (GHS)

West African CFA ₦2240 (XOF)

Central African CFA ₦2180 (XAF)

₦820 Australian Dollar AUSSIE (AUD)

Business

NNPCL wants to sell 10% equity via IPO on NGX, LSE

NNPC is expected to spend at least the whole of 2027 preparing for the proposed offering, with the listing primarily intended to strengthen corporate transparency and governance in line with Nigerian law.

Published

3 days ago

November 4, 2026

OCHEFA

170 Views

The Nigerian National Petroleum Company Limited (NNPC Ltd.) is considering selling between 5% and 10% of its equity through a potential initial public offering (IPO), with the proposed listing expected to focus primarily on Nigeria’s domestic capital market.

The Group Chief Executive Officer of NNPC Ltd., Bashir Bayo Ojulari, disclosed this in an interview with Reuters on Tuesday, November 3, 2026, adding that the company could also pursue a secondary listing in London or New York.

The disclosure comes shortly after the Dangote Petroleum Refinery’s IPO closed on October 27, following a two-week extension of its subscription period from the initial October 13 deadline.

Ojulari indicated that raising additional capital would be a secondary consideration rather than the main reason for going public.

The company is also considering listing some of its subsidiaries separately, following a model adopted by Abu Dhabi National Oil Company (ADNOC), the United Arab Emirates’ state-owned oil company.

Beyond the potential IPO, Ojulari disclosed that Chinese companies have expressed interest in acquiring equity stakes in some of NNPC’s smaller refineries, particularly the Port Harcourt and Warri facilities, which require substantial rehabilitation.