Economy

NPA Urges Stakeholders to Strengthen Domestic Economy

Published

1 month ago

October 3, 2025

By Omoniyi David

The Nigerian Ports Authority (NPA), has urged stakeholders nationwide to work together in strengthening the domestic economy through improved trade partnerships and simplified export processes.

Managing Director of NPA, Dr. Abubakar Dantsoho, made the call during the NPA Special Day at the 20th Abuja International Trade Fair (AITF), which opened on September 25 and runs until October 6 in Abuja.

Dantsoho assured participants of NPA’s readiness to collaborate with investors and stakeholders beyond the fair, noting that such partnerships are critical to economic growth.

“Our doors are always open for partnerships even beyond this trade fair. I warmly invite you to interact with our business development team at the NPA pavilion,” he said.

Highlighting the authority’s reforms, Dantsoho disclosed that the NPA has established Export Process Terminals (EPTs), to simplify previously cumbersome export procedures.

The EPTs, he explained, serve as a one-stop-shop for cargo consolidation, documentation, packaging, certification, and onward shipment, supported by an electronic call-up system to improve turnaround time and eliminate bureaucratic bottlenecks.

He further underscored Abuja’s strategic role in trade facilitation, citing its central location and agro-allied potential as vital to NPA’s push for non-oil revenue.

“Abuja’s centrality accentuates a seamless linkage with the comparative advantages inherent in all regions of the federation.

“This can be harnessed to sustain growth in the volume and value of Nigeria’s exports,” he said.

Dantsoho reaffirmed NPA’s commitment to connecting local producers in the non-oil value chain with global markets, stressing that trade remains a key driver of Nigeria’s economic aspirations.

Director-General of the Abuja Chamber of Commerce and Industry (ACCI), Mr. Agabaidu Jideani, commended NPA for its strategic role in national trade, noting that the authority’s efficiency directly impacts the competitiveness of Nigerian businesses.

He also highlighted the importance of Inland Dry Ports (IDPs), especially the Abuja Inland Container Depot, which he said would help decongest coastal ports and ease business operations in the FCT and neighbouring states.

Economy

NNPCL Targets 2 Million BPD by 2027

Published

1 day ago

November 5, 2025

By Onyeanya Ebere Immaculata

The Nigerian National Petroleum Company Limited (NNPCL), has raised Nigeria’s crude oil production to 1.7 million barrels per day (bpd) and set a target of 2 million bpd by 2027, with a long-term goal of 3 million bpd.

NNPCL Group CEO Bashir Ojulari announced the milestone on Tuesday during the “Energy Talk” session at ADIPEC 2025 in the United Arab Emirates.

He attributed the growth to renewed partnerships with local and international producers, removal of operational obstacles, and a focus on shared value creation.

Ojulari outlined plans to collaborate with OPEC members, African national oil companies, and financial institutions to attract $30-60 billion in new investments by 2030.

He highlighted ongoing projects including upstream revival programmes, expansion of gas infrastructure such as the near-complete Ajaokuta-Kaduna-Kano (AKK), and Obiafu-Obrikom-Oben (OB3), pipelines, and cleaner energy initiatives like the Presidential CNG Initiative.

Speaking on Nigeria’s energy potential, Ojulari said: “Nigeria is a central player in Africa’s energy landscape. At NNPC Limited, we are not just participating in the energy transition; we are shaping it from an African perspective.”

He emphasized the country’s transition under President Bola Tinubu’s Renewed Hope Agenda from an extractive to an investment-driven energy economy and called on global investors to form partnerships to combat energy poverty in Africa.

The ADIPEC 2025 conference, themed “Energy. Intelligence. Impact.”, is the 41st edition of the annual gathering hosted by Abu Dhabi National Oil Company (ADNOC).

Economy

Shettima Represents Tinubu at Global Climate Talks in Brazil

Published

2 days ago

November 5, 2025

By Samuel Adeola

Vice-President Kashim Shettima has departed Abuja for Belém, Brazil, to represent President Bola Tinubu at the leaders’ summit ahead of the 30th United Nations Climate Change Conference (COP30).

The high-level meeting, hosted by Brazilian President Luiz Inácio Lula da Silva, will hold from November 6-7 in Belém, capital of Pará State, in the Amazon region.

According to presidential aide Stanley Nkwocha, Shettima will present Nigeria’s national statement, outlining the country’s climate priorities and actions under international agreements.

He is also scheduled to meet Brazilian Vice-President Geraldo Alckmin in Brasília after the summit to deepen bilateral cooperation.

President Tinubu said Nigeria’s focus at COP30 is to attract climate finance for projects that promote a greener and more resilient economy, especially in line with this year’s theme, “Climate Action and Implementation.”

Economy

Tinubu Seeks Senate Approval for ₦1.15trn Domestic Loan

Published

2 days ago

November 4, 2025

By Onyeanya Ebere Immaculata

President Bola Tinubu has asked the Senate to approve a ₦1.15 trillion domestic loan to fund the 2025 budget deficit.

His request, contained in a letter read by Senate President Godswill Akpabio on Tuesday, said the borrowing would help bridge the budget gap and ensure smooth implementation of government programmes.

The Senate referred the proposal to its Committee on Local and Foreign Debt, chaired by Senator Aliyu Wammako, for review and report within one week.