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WACT Sets to Commission $115m Upgraded Onne Terminal

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West Africa Container Terminal (WACT), operated by APM Terminals in Onne, Rivers State, has completed works on its USD115 million (about N178.2 billion) upgraded terminal. In a statement, the  company’s Managing Director, Jeethu Jose, disclosed that the terminal will be commissioned next week Wednesday by President Bola Tinubu.

Jose said: “We are pleased to announce the successful completion of the upgrade of our terminal at Onne Port. This will be a game-changer for Nigeria, and we’re thoroughly excited about it.

“The fresh investment of USD115 million is a further testament to the trust and confidence that APM Terminals has in the Nigerian economy and contributes to our purpose of improving lives for all while lifting global trade.

”WACT is a greenfield container terminal developed under a Public-Private Partnership (PPP) model. Strategically situated within the Oil and Gas Free Zone, Onne, Rivers State.

The terminal has evolved into the premier gateway for accessing markets beyond the Lagos region and a vital conduit to Eastern Nigeria’s burgeoning economy. On August 15, 2020, WACT made history when it received the largest container vessel ever to berth at any Nigerian port.

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Truecaller adds travel eSIM to portfolio

COO at Truecaller, Fredrik Kjell, said that the launch marks Truecaller’s move into mobile data services, broadening the platform beyond caller ID and spam protection, and for the first time adding digital consumables to the portfolio.

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Truecaller has launched travel eSIM in Nigeria, South Africa, Egypt, Malaysia, and 25 other countries, saying it is to deepen global communications among people by dismantling fetters occasioned by location.

COO at Truecaller, Fredrik Kjell, said that the launch marks Truecaller’s move into mobile data services, broadening the platform beyond caller ID and spam protection, and for the first time adding digital consumables to the portfolio.

Travel eSIM is also currently available to purchase in Italy, Sweden, Spain, France, Germany, Poland, Portugal, Romania, the Netherlands, Belgium, Ireland, Austria, Finland, the Czech Republic, Denmark, Hungary, the United States, the United Kingdom, Australia, Canada, New Zealand, Switzerland, Norway, Chile and Indonesia.

The leading global platform for verifying contacts and blocking unwanted communication, has 500 million people already on its platform with their daily communication.

Travel eSIM extends that relationship to international travel – a category where users routinely overpay for connectivity or arrive at their destination disconnected.

Travel eSIM is a fully digital mobile data service that activates in minutes and offers plans from 1 GB over seven days to 20 GB over 30 days. Customers can buy travel eSIM in 29 markets at launch, through the Truecaller iPhone app or on the web at Truecaller.com.

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Nigeria’s external debt: Tinubu’s borrowing in 24 months surpasses 55 years record

He revealed that, with Nigeria’s total public debt of N159.28 trillion as of April 2026, according to the Debt Management Office, every Nigerian owes N670,000, lamenting the rapid expansion of Nigeria’s debt profile in recent years.

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” The N65.9 trillion borrowed by the administration of President Bola Tinubu in the last 24 months is more than five times the total debt Nigeria incurred in the first 55 years of its Independence.”

This observation was made by Chairman of the Alliance for Economic Research and Ethics LTD/GTE, Dele Oye.

Oye, who is the immediate past chairman of the Organised Private Sector of Nigeria (OPSN), noted that while successive governments accumulated debt over decades, the Tinubu administration alone added N65.9 trillion in two years, compared to just N12 trillion accumulated over 55 years.

He revealed that, with Nigeria’s total public debt of N159.28 trillion as of April 2026, according to the Debt Management Office, every Nigerian owes N670,000, lamenting the rapid expansion of Nigeria’s debt profile in recent years.

Oye cautioned that unless urgent measures are taken to strengthen revenue generation and fiscal discipline, the rising debt burden could place long-term pressure on public finances and constrain government spending on critical sectors.

Cast your mind back to 2006. Nigeria had just pulled off one of the most celebrated fiscal feats in African history. President Olusegun Obasanjo paid $12 billion to extinguish $30 billion in Paris Club debt. Nigeria was, briefly, externally debt-free. The Excess Crude Account (ECA) was flush. The future looked fundable. Twenty years later, that golden moment reads like a fairy tale. Under President Goodluck Jonathan, debt crept back to N12.06 trillion by 2015, manageable, but the warning signs were already blinking. Then came the Buhari years.

“In eight years, the debt exploded from N12.06 trillion to N87.38 trillion, a 620 percent increase. The Central Bank of Nigeria (CBN) was pressed into printing money through ‘Ways and Means’ advances; N23.7 trillion of this was eventually securitised into long-term bonds, effectively converting a government overdraft into a generational liability.

“Tinubu’s administration has added a further N65.9 trillion in just two years. To put that in perspective: it took Nigeria’s first 55 years of independence to accumulate N12 trillion in debt. The present administration has added more than five times that amount in 24 months,” said Oye.

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Gas Marketers pleads for FG intervention over soaring price for common Nigerians

NALPGAM National President, Mr. Edu Inyang, said that cooking gas now sells between N1, 500 and N1, 700 per kilogram, the current situation has placed millions of households, food vendors, small businesses and low-income earners under severe pressure, as many Nigerians can no longer afford cooking gas for daily use.

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The Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM) has appealed to the Federal Government to urgently intervene and stabilise the supply and pricing of cooking gas inoder to prevent further hardships on Nigerians.

NALPGAM National President, Mr. Edu Inyang, said that cooking gas now sells between N1, 500 and N1, 700 per kilogram, the current situation has placed millions of households, food vendors, small businesses and low-income earners under severe pressure, as many Nigerians can no longer afford cooking gas for daily use.

He disclosed that marketers pay between N25.2 million and N26.2 million for a 20-metric-tonne truck of liquefied petroleum gas, depending on location.

He attributed the rising cost of LPG to persistent supply shortages, high depot prices, logistics bottlenecks and escalating operational costs faced by marketers nationwide.

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