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Oyetola boasts Tinubu govt raised marine revenue by 92% in one year
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.
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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News
Osogbo United Youth Forum Lauds FEDPOFFA for Employing Outstanding Indigene as Lecturer
Osogbo United Youth Forum Lauds FEDPOFFA for Employing Outstanding Indigene as Lecturer
OSOGBO – The Osogbo United Youth Forum (OUYF) has publicly commended the leadership of the Federal Polytechnic, Offa, Kwara State, for offering a lecturing position to a distinguished Osogbo-born legal practitioner, Barrister Isola Shakirat Taiwo (Esq.).
The group described the appointment as a recognition of true excellence and merit, urging other leaders to prioritize impactful empowerment over what they termed “insignificant handouts.”
In a statement issued by the group’s Publicity and Media Unit, the Secretary General of OUYF, Comrade Adeagbo Suraj Ademola, expressed profound gratitude on behalf of the organization. He specifically thanked the polytechnic’s management for considering Barrister Taiwo, a brilliant and newly called-to-bar lawyer who graduated with an impressive Cumulative Grade Point Average (CGPA) of 4.41 out of a possible 5.00, earning a Second Class Upper Division in her Law degree from Osun State University.
“This recognition of excellence and merit is highly commendable and worthy of emulation,” Ademola stated. He assured the leadership of the Federal Polytechnic, Offa, that the good people and youths of Osogbo will always remember and reciprocate this remarkable gesture whenever the need arises.
Expanding his message to Osogbo indigenes in positions of authority across various agencies and political offices, Ademola advised that the forum would continually assess and appreciate leaders based on tangible impact.
“The youths of Osogbo will continually assess and appreciate leaders based on the number of lives they positively impact through meaningful empowerment, employment opportunities, and sustainable development,” he said. “This is far more valuable than the distribution of insignificant handouts that cannot provide long-term value.”
The forum praised the appointment as a model for other institutions and public officeholders to follow, emphasizing that rewarding hard work and academic brilliance is the surest path to communal and national development.
Signed:
Publicity and Media Unit
Osogbo United Youth Forum (OUYF)
Osogbo United Youth Forum Lauds FEDPOFFA for Employing Outstanding Indigene as Lecturer
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News
Cooking Gas Crisis Deepens as Price Hits N1,700 Per Kilogram
Cooking Gas Crisis Deepens as Price Hits N1,700 Per Kilogram
The Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM) has raised serious concerns over the sharp increase in the price of cooking gas, warning that the persistent surge could trigger widespread public anger and possible unrest against operators of gas retail outlets across the country.
The association disclosed that Liquefied Petroleum Gas (LPG) now sells between N1,500 and N1,700 per kilogram across several parts of Nigeria, depending on location, while marketers currently pay between N25.2 million and N26.2 million for a 20-metric-tonne truckload of the product.
The development marks another major spike in the domestic cooking gas market, intensifying pressure on households already grappling with rising inflation and declining purchasing power.
Speaking on the worsening situation, NALPGAM National President, Mr. Edu Inyang, appealed to the Federal Government to urgently intervene by stabilising supply and introducing immediate measures to halt further increases in the cost of the product.
According to him, the soaring cost of LPG has pushed millions of Nigerian households, food vendors, restaurants, bakeries, and low-income earners into severe hardship, forcing many to abandon cleaner cooking alternatives.
“It is sad and rather very pathetic to inform the general public that Nigerians have woken up to buy cooking gas, which should ordinarily be a basic household necessity, at a prohibitive cost of over N1,500 per kilogram. If this situation is not urgently addressed, citizens may rise against owners of gas filling stations out of frustration,” Inyang said.
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He attributed the sustained rise in prices to a combination of limited domestic supply allocation, rising depot prices, foreign exchange volatility, high transportation costs, terminal bottlenecks, and increasing operational expenses faced by marketers nationwide.
Industry data shows that depot prices have risen significantly in recent weeks due to supply constraints and foreign exchange challenges affecting importation, despite Nigeria’s status as one of Africa’s major natural gas producers.
Energy analysts say the country continues to face a mismatch between local LPG production and domestic market availability, as a substantial volume of gas produced locally is still tied to export commitments.
Inyang warned that the worsening price crisis is reversing gains recorded under Nigeria’s Decade of Gas Initiative, which was launched to deepen gas utilisation and encourage households to transition away from firewood, charcoal, and kerosene.
According to him, many Nigerians are already reverting to traditional cooking fuels because of affordability concerns — a trend experts say could worsen deforestation, indoor air pollution, respiratory illnesses, and environmental degradation.
The association further cautioned that if the crisis persists, it could trigger wider economic consequences, including increased food inflation, closure of small-scale LPG retail businesses, job losses across the gas distribution value chain, and declining investor confidence in the sector.
Small business operators, particularly roadside food vendors and caterers who rely heavily on cooking gas, have also raised concerns over shrinking profit margins and the possibility of transferring higher operating costs to consumers.
NALPGAM therefore called on the Federal Government, the Ministry of Petroleum Resources, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), NNPC Limited, domestic gas producers, terminal operators, and other critical stakeholders to urgently collaborate on market-stabilisation measures.
The association recommended increased domestic LPG supply allocation, transparent pricing mechanisms, improved distribution infrastructure, removal of importation bottlenecks, and targeted policy interventions aimed at making cooking gas more affordable and accessible to Nigerians.
Stakeholders say unless urgent steps are taken to stabilise the market, Nigeria may witness a deeper energy affordability crisis capable of undermining the country’s clean energy transition goals.
Cooking Gas Crisis Deepens as Price Hits N1,700 Per Kilogram
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Police Reject ₦500m Bribe, Seize 425 Bags of Suspected Canadian Loud Worth ₦7.8bn
Police Reject ₦500m Bribe, Seize 425 Bags of Suspected Canadian Loud Worth ₦7.8bn
Lagos, Nigeria – Operatives of the Zone 2 Command of the Nigeria Police Force have uncovered a major drug trafficking syndicate in Lagos, seizing 425 bags of suspected Canadian Loud – a high-potency strain of cannabis – with an estimated street value of ₦7.8 billion and arresting several suspects, including the alleged kingpin, Eke Henry Ifeanyi . The operation, carried out by officers of the Special Protection Unit (SPU) in collaboration with divisional police detectives, followed months of surveillance and intelligence gathering coordinated by the Zone 2 Headquarters.
The raid, which took place at No. 10 Olori Adekemi Ajibola Street, Arowojobe Estate, Mende, Maryland, Lagos , led to the recovery of the illicit substances allegedly stored in the residence of the prime suspect. Addressing journalists at the scene on Saturday, the Assistant Inspector-General of Police in charge of Zone 2, AIG Olohundare Moshood Jimoh , disclosed that the suspect was apprehended on May 19, 2026 , after weeks of strategic monitoring by operatives. According to him, the operation was executed with technical support and guidance from the Inspector-General of Police, IGP Olatunji Disu , alongside coordinated efforts between the SPU and divisional police teams.
In a dramatic turn of events during the raid, the suspect allegedly made a desperate attempt to compromise the operation. Jimoh revealed that during the operation, the suspect allegedly offered a bribe of ₦500 million to the SPU commander in an attempt to make the team stand down and allow him to contact his associates to move the consignment elsewhere. “The suspect offered ₦500 million to the SPU commander in an attempt to make the team stand down and allow him to contact his associates to move the consignment elsewhere. The offer was rejected immediately and properly documented for further investigation,” AIG Jimoh said.
The AIG described the development as a reflection of the renewed professionalism and operational discipline being entrenched in the Force under the current policing strategy. He noted that the success of the operation underscored the importance of deploying specialized police units alongside conventional divisional teams in tackling organized crime. According to him, the operation demonstrated the effectiveness of rapid containment strategies , intelligence-led policing , and professional conduct among the operatives involved in the raid. “Rapid containment was achieved as the Special Protection Unit worked with divisional teams to secure the perimeter and prevent escape or interference with evidence. The operation was intelligence-driven, following months of surveillance and technical monitoring before the raid was carried out. The immediate rejection and documentation of the bribe attempt also reflect the standard expected from redeployed personnel at the divisional level,” Jimoh added.
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Preliminary investigations revealed that the suspect allegedly operated under the cover of a legitimate business to avoid detection. Ifeanyi runs Ogata Venture Limited , a company that supplies thermal paper rolls used in POS machines and ATM receipts – a front that investigators believe he used to secretly engage in the distribution of illicit drugs through online platforms within and outside Lagos State. Police sources disclosed that the suspect had initially escaped arrest during an earlier operation but was eventually apprehended on May 19, 2026, after detectives tracked his movements. Following his arrest, investigators said he led detectives to the apartment allegedly used as the warehouse. Further searches reportedly revealed that the living room was filled with cartons of thermal paper rolls, while one of the rooms contained the bags suspected to be Canadian Loud. A resident of the area expressed shock over the discovery, saying neighbours had no idea such activities were allegedly taking place within the compound.
Recovered items from the premises included two electric vehicles bearing forged presidency number plates marked “NYCN 10 SE”, a Leopard hybrid vehicle carrying the same forged registration number, three Android phones, a Republic of Liberia residence permit card, two ATM cards, and an Emporio Armani wristwatch . AIG Jimoh alleged that the suspect used the vehicles bearing forged special number plates to evade security checks and suspicion while transporting the prohibited substances across Lagos. When journalists visited the location, residents disclosed that the suspect was not living in any of the apartments within the compound but allegedly used the premises strictly for business activities.
Reacting to the development, the Inspector-General of Police, IGP Olatunji Disu , commended the operatives for their professionalism, saying the success of the operation validated the ongoing redeployment of personnel to divisions and units across Lagos and Ogun states. The IGP noted: “Policing must be close to the people, and our specialized units must work side by side with divisional teams on the ground. The professionalism shown by the SPU commander in rejecting a ₦500 million bribe and following due procedure is the standard we expect. It shows that when you put your best foot forward at the grassroots, you get results and restore public trust.” Disu further assured that the Force leadership would continue to reward integrity while holding officers accountable to the highest ethical standards. This operation aligns with broader reforms under IGP Disu’s administration, including the strengthening of internal oversight mechanisms, the revitalized Complaint Response Unit, and the dismantling of the “Keep In View” (KIV) culture that previously allowed sensitive criminal files to be buried.
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AIG Jimoh issued a stern warning to drug barons operating in the region , declaring that the police are intensifying efforts to dismantle drug networks in Lagos and Ogun States. “This is the beginning of the end of the issue of drug barons in this region of Lagos and Ogun State, ” AIG Jimoh declared. He explained that the incident underscores why specialized units like the SPU are being embedded within joint operations under IGP Disu’s grassroots policing strategy, which includes embedding specialized units within divisional structures to ensure rapid response capabilities and intelligence sharing at the local level.
This police operation comes amid heightened efforts by Nigerian security agencies to combat the influx of Canadian Loud into the country. Just two weeks earlier, between May 9 and May 12, 2026 , the National Drug Law Enforcement Agency (NDLEA) intercepted a massive consignment of Canadian Loud weighing 4,173.5 kilograms with a street value of ₦10.4 billion at the Tincan Island Port in Lagos. That seizure followed painstaking intelligence gathering and surveillance of a container that had been tracked from Toronto, Canada , through Montreal and Morocco, before arriving at the Lagos port. The illicit drugs were professionally packed and concealed inside two vehicles – a used Ford Bus and a Mercedes-Benz C300 car – stashed within the shipping container.
That operation came barely four days after NDLEA operatives raided a Lekki mansion used as a stash house, where 4,000 parcels of the same psychoactive substance weighing 2,326 kilograms worth over ₦5.8 billion were recovered. Reacting to the port seizure, NDLEA Chairman Brig. Gen. Mohamed Buba Marwa (retd.) stated: “This second massive seizure in less than a week is a clear message to the international syndicates who think they can use our ports as entry points for their soul-destroying trade, that the synergy between NDLEA and Customs Service, as well as other security agencies and our international partners, is yielding fantastic results.” The Canadian Royal Mounted Police, the UK Home Office International Operations (UK-HOIO), and the US Drug Enforcement Administration (DEA) have all been involved in intelligence sharing related to the Canadian Loud trafficking routes into West Africa.
Police authorities said exhibits recovered during the operation have been properly documented and will be tendered in court. The suspects are currently in custody while investigations continue to track down other members of the drug trafficking network. The 425 bags of suspected Canadian Loud will be subjected to laboratory analysis to confirm their composition before formal charges are filed. If convicted, the suspects face severe penalties under Nigeria’s National Drug Law Enforcement Agency Act , which provides for life imprisonment for trafficking in certain quantities of prohibited substances.
As of May 25, 2026 , the investigation remains active, with police authorities stating that more arrests are expected as the dragnet widens. The successful operation and the rejection of the ₦500 million bribe have been hailed as a significant victory in the fight against drug trafficking and corruption within Nigeria’s security apparatus, sending a clear message that law enforcement officers are committed to integrity and professionalism.
Police Reject ₦500m Bribe, Seize 425 Bags of Suspected Canadian Loud Worth ₦7.8bn
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