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Oyetola boasts Tinubu govt raised marine revenue by 92% in one year

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2 years ago

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Former Governor Adegboyega Oyetola
Oyetola Gboyega

Oyetola boasts Tinubu govt raised marine revenue by 92% in one year

Minister of Marine and Blue Economy, Adegboyega Oyetola, says revenue from two agencies of the ministry increased by 92 per cent in the last one year.

According to him, the earnings by the Nigerian Ports Authority (NPA) and Nigerian Maritime Administration and Safety Agency (NIMASA) grew from N126,359,074,742 in the first quarter of last year to N242.811 billion in the first quarter of this year.

The minister attributed the success to the far-reaching reforms introduced by President Bola Ahmed Tinubu and being implemented by his ministry.

Oyetola spoke yesterday while presenting his ministerial scorecard as part of activities marking the first year of the Tinubu Administration.

He gave a breakdown of the revenue growth by the four agencies in his ministry, including the NPA, NIMASA, Nigerian Shipper Council (NSC) and the National Inland Waterways Authority (NIWA).

Oyetola said: “We have been able to ramp up revenue to the government in the last year and we are poised to do more.

“A comparison of Quarter 1 of 2023 against Quarter 1 of 2024 revenue performance across the agencies reveals a 92 per cent increase.

“In 2023, the NPA generated N82,987,439,908 while it generated N170,493,192,630 in the Q1 of 2024.

“NIMASA in 2023 generated N37,405,830,219 while in the Q1 2024, the revenue generated was N62,154,237,671

“The Nigerian Shipper Council (NSC) which generated N4,878,647,275 in the Q1 of 2023 experienced N8,675,726,282 revenue generation in the Q1 of 2024.

“The National Inland Waterways Authority (NIWA), recorded N1,087,157,340 in the Q1 of 2023 while in the Q1 2024, the revenue generated was N1,488,588,802

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“Overall, compared to last year where in Q1, the entire sector generated N126,359,074,742 in Q1 of 2024, the revenue generated was N242,811,745,385.

“So, the sector witnessed N116,452,670,643 revenue growth compared to the Q1 of the previous year which is a 92 per cent increase in revenue generated.”

He attributed the growth in revenue generation to an increase in vessel calling at the ports and other things.

Oyetola said: “The increase in revenue performance has largely been due to a 10 per cent increase in the number of vessels using our ports due to strategic investments in port infrastructure in the last one-year, mooring boats, patrol vessels and dredging of the port’s channels. We have also tightened revenue assurance by deploying technology.

“Revenue generation is critical to us and that is why we commissioned revenue enhancement studies focused on the ministry, its departments, and agencies.

“The objective is to further identify and block leakages while identifying recommendations to expand current revenue sources.

“Automation of revenue collection processes to eliminate bottlenecks and enhance transparency and accountability is also our goal.

“We are also deploying revenue assurance technologies to ensure accurate and complete billings in line with established contracts and services rendered.

“We would ensure the efficient utilisation of existing assets through concessions to the private sector and public-private partnerships as required.”

Oyetola explained that funds have been sourced for the comprehensive modernisation and reconstruction of Tin Can Island and Apapa Port Complex.

He said discussions were ongoing to seek funds for the rehabilitation of Onne, Rivers, Delta and Calabar port complexes.

The minister said the port modernisation would generate at least, 20,000 jobs, decongest the ports, and improve ease of doing business.

To protect the inland waterways, the minister also said the ministry would procure three water ambulances for areas where accidents were prevalent.

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He said a national policy on blue economy will be unveiled by year’s end.

Oyetola said the reforms initiated by the ministry and the deployment of modern technology led to an increase in revenue.

The minister also explained that the proposed shipping line would boost the economy and give opportunity to ship owners and others in the sector to thrive.

Oyetola added: “Efforts are in top gear to create a national carrier based on a PPP arrangement that will entail very limited equity participation by the government.

“This will reduce capital flight, create shipping jobs, and enable Nigerian ship owners to benefit more from the global maritime shipping trade through Cost, Insurance and Freight (CIF) of cargo onboard.

“The point of a shipping line is not to bring back the Nigerian National Shipping Line (NNSL). The issue is that we should have a shipping line.

“We realised that we are losing so much in the area of freight because we don’t have a shipping line that would compete with most of the other shipping lines in other parts of the world.

“So, the intention is to have PPP, the government may decide to have token equity or it could be a purely private partnership.

“We are not looking at bringing back the moribund or liquidated NNSL. I don’t believe the government should be in business.

“The government will create an enabling environment for business to thrive. The failure of the first line was because NNSL was purely run by the government and it died a natural death.

“We should allow the private sector people that are trained for business to drive business.

“So, we are looking at a partnership perhaps between government and private or private-private but we need to have a line that will fly our own flag and enjoy the opportunity of not only participating in freight but also participating in bringing import to our country.

“If we have our own line, we are entitled to about 40 per cent of import coming to our country. So, that is the kind of thing we are looking at and not NNSL that is liquidated.”

For the safety of the inland waterways, he said: “Deployment of Water Ambulances – we have deployed three water ambulances for prompt search and rescue operations on the inland waterways. This will reduce fatalities whenever accidents occur on our inland waters.

“The issue of water ambulance is a pilot scheme is meant to take care of specific areas and we are going to buy more to cover the entire country but there are specific places where accidents are very prevalent, so we want to ensure that these three ambulances are deployed to take care of those areas where we have been having lots of accident.

“The intention is to ensure that we have enough to go around the entire country to cover our inland waterways.”

The minister also said in line with its key performance indicator, the ministry had initiated consultations with relevant bodies to reduce, by the end of the year, the number of agencies at the seaports to a maximum of even to fast-track port processes.

The minister said the extension of the continental shelf will add more to Nigeria’s marine resources, saying: “We have an exclusive economic zone of over 200 nautical miles, and 10, 000 kilometres of inland waterways capable of supporting a vibrant intra-regional trade.

“We are blessed with strategic navigational routes linking Africa with North and South America, Europe, and Asia, making the shipping industry potentially a major driver of our country’s economy.

“Let me hasten to add that the recent expansion of our continental maritime domain came at the right time. Here, we must commend Mr. President on the work of the Presidential Committee on Nigeria’s Extended Continental Shelf Project.”

“The expansion gave us an additional 16,300 square kilometers which is six times the size of Lagos State. This has no doubt added more to the marine resources base of Nigeria.”

Oyetola boasts Tinubu govt raised marine revenue by 92% in one year

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Tinubu Orders Release of 300 Containers of Electricity Equipment Trapped at Nigerian Ports

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1 day ago

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October 29, 2026

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President Bola Ahmed Tinubu

Tinubu Orders Release of 300 Containers of Electricity Equipment Trapped at Nigerian Ports

President Bola Tinubu has reportedly ordered the release of more than 300 containers of electricity equipment that have remained stranded at Nigerian ports, with some consignments said to have been held for as long as 20 years.

The equipment will undergo technical assessment to determine which items remain usable and can be deployed to support efforts to improve electricity supply across the country.

The development could provide an opportunity to recover valuable power-sector assets that have remained unused at the ports for years, although their actual contribution to electricity generation and distribution will depend on their condition, suitability and cost of rehabilitation.

The Federal Government is also pursuing plans to increase Nigeria’s electricity capacity to 19,000 megawatts (MW), as part of broader efforts to address the country’s persistent power challenges.

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However, the proposed assessment of the stranded equipment will be crucial in determining how much of it can be salvaged and whether it can be integrated into the country’s existing electricity infrastructure.

Nigeria has continued to face electricity supply challenges, including inadequate generation, transmission constraints, distribution difficulties and ageing infrastructure.

The release and possible deployment of the equipment could support ongoing interventions in the power sector if the items are found to be functional and suitable for use.

Further details are expected on the assessment process, the estimated value of the equipment and the timeline for deploying any recoverable items.

Tinubu Orders Release of 300 Containers of Electricity Equipment Trapped at Nigerian Ports

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Ijeh Barracks Mosque: Police Promise to Monitor Reconstruction as MURIC Urges Calm

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1 day ago

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October 29, 2026

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Ijeh Barracks Mosque: Police Promise to Monitor Reconstruction as MURIC Urges Calm
MURIC Executive Director, Professor Ishaq Akintola

Ijeh Barracks Mosque: Police Promise to Monitor Reconstruction as MURIC Urges Calm

The Nigeria Police Force has assured the Muslim Rights Concern (MURIC) that its complaint over the demolition of the Ijeh Police Barracks Mosque in Obalende, Lagos State, is receiving attention, with the Lagos State Police Command’s Criminal Investigation Department (CID) promising to monitor the mosque’s reconstruction.

MURIC Executive Director, Professor Ishaq Akintola, disclosed this in an update issued on Thursday, October 29, 2026, following telephone calls from police officials in Abuja and Lagos.

According to Akintola, a senior Muslim police officer at the Police Headquarters in Abuja contacted him to confirm that the authorities were aware of MURIC’s complaint and its public outcry over the alleged refusal of the contractor handling the barracks project to rebuild the demolished mosque.

The officer reportedly assured him that the matter was receiving attention and that the mosque would not be abandoned.

Akintola said he received another call about five minutes later from officials of the Lagos State Police Command’s CID at Panti, who assured him that they would monitor the mosque’s reconstruction.

He declined to disclose the identity of the senior police officer who contacted him from Abuja, saying the officer’s identity should remain confidential.

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Following the communications, the MURIC director urged members and supporters of the organisation to remain peaceful and allow the police authorities to address the matter.

“Therefore, let us relax, remain calm and allow the police authorities to handle the issue,” Akintola said.

He described the calls from the police offices in Abuja and Lagos as signs that the authorities were sensitive to the concerns raised by the Muslim community.

“By contacting us from Police Headquarters, Abuja and also from Lagos Police Command, the Nigeria Police has displayed sensitivity, professionalism and accountability,” he said.

Akintola also thanked MURIC members and supporters for their solidarity during the controversy and urged them to exercise patience while awaiting further action.

The organisation’s complaint followed the demolition of the Ijeh Police Barracks Mosque in Obalende and concerns over the alleged failure of the contractor handling the barracks project to rebuild the facility. MURIC has called for fair treatment of Muslim worshippers and the restoration of the mosque.

However, the police assurances, as relayed by Akintola, do not establish that reconstruction has commenced or that a completion date has been agreed upon. No specific timeline for the rebuilding was announced in MURIC’s update.

The immediate issue is therefore whether the relevant authorities will take concrete steps to ensure that the demolished mosque is rebuilt.

For now, MURIC says it will allow the police to handle the complaint while urging its members to remain calm and peaceful as they await further developments.

Ijeh Barracks Mosque: Police Promise to Monitor Reconstruction as MURIC Urges Calm

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Cocaine Trafficking: Court Denies KC Luxury Bail Over Missing Medical Certificate

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2 days ago

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October 28, 2026

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Cocaine Trafficking: Court Denies KC Luxury Bail Over Missing Medical Certificate
Social Media Influencer Afolabi Kazeem Michael, popularly known as KC Luxury
Cocaine Trafficking: Court Denies KC Luxury Bail Over Missing Medical Certificate

The Federal High Court in Lagos has rejected the bail application of Nigerian businessman and social media influencer Afolabi Kazeem Michael, popularly known as KC Luxury, over alleged cocaine trafficking and money laundering, ruling that the defence failed to provide sufficient medical evidence to justify his release.

Justice Musa Kakaki delivered the ruling on Wednesday, October 28, 2026, holding that the application lacked the necessary medical certificate to establish special circumstances warranting bail on health grounds.

“There is no medical certificate to warrant the court to grant him bail,” the judge said.

He added that a defendant claiming to require special medical attention should provide an expert assessment explaining the condition and the need for the requested treatment.

KC Luxury’s lawyer, Emefo Etudo, had asked the court to release his client so he could receive specialised treatment at the Lagos University Teaching Hospital (LUTH). The defence argued that his health had deteriorated and that he required medical attention beyond what was available at the facility where he was being held.

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The application followed concerns about the defendant’s health after he was brought to the court premises in an ambulance on October 23 while receiving oxygen.

During that proceeding, a nurse attached to the Police Hospital in Falomo, Lagos, told the court that KC Luxury had been admitted on October 7 and diagnosed with asthma and sepsis.

The nurse said the defendant remained inside the ambulance because he was receiving oxygen and could not safely be moved into the courtroom.

The defence also alleged that KC Luxury had suffered a collapsed lung and needed specialist care. However, the prosecution opposed the bail request, arguing that the medical evidence did not establish that his condition could not be managed while in custody.

In his ruling, Justice Kakaki reviewed the medical exhibits submitted by the defence but held that they did not sufficiently establish the special circumstances required to grant bail.

The judge also noted that the defence had failed to demonstrate a material change in circumstances that would justify reconsidering the application.

He questioned the argument that KC Luxury needed treatment at LUTH without sufficient evidence showing that the hospital or other available medical facilities could not adequately manage his condition.

Despite refusing bail, the court directed officials of the Ikoyi Custodial Centre to ensure that the defendant had unrestricted access to doctors and medical specialists for examination and treatment.

The judge also ordered an accelerated hearing of the case and adjourned proceedings until November 2, 2026, for the commencement of trial.

KC Luxury is standing trial alongside Boniface Freeman Ochoche Sule and Ikechukwu Ekugo Patriarch on a 22-count charge filed by the National Drug Law Enforcement Agency (NDLEA).

The charges include allegations of conspiring to export 184.5 kilogrammes of cocaine to the United Kingdom and money laundering. The defendants have pleaded not guilty.

According to the NDLEA, the cocaine was intercepted at a courier facility in Lagos before it could be exported. The agency also accused the defendants of involvement in financial transactions and asset acquisitions allegedly connected to the suspected drug operation.

The defendants have yet to be convicted, and the allegations remain before the court.

The latest ruling means KC Luxury will remain in custody while the criminal proceedings continue, with the court directing that his medical needs be addressed during detention.

Cocaine Trafficking: Court Denies KC Luxury Bail Over Missing Medical Certificate

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