Economy
Nigerian Ports Witness 4.5% Decline in Vessel Traffic
By Adedapo Adesanya
Vessel traffic calls into Nigerian ports dropped by 4.5 per cent after 3,778 ships berthed in 2023 compared with the 3,957 ships recorded in 2022.
In a port performance report presented at the quarterly meeting of the Nigerian Port Consultative Council this week, this shortfall happened as a result of the global economic downturn, which had a ripple effect on the Nigerian economy.
Cargo throughput (excluding crude oil) also recorded a drop of 6.4 per cent as a total of 70,475,671 metric tons in 2023 against 75,274,853 metric tons in 2022.
The report also indicated a drop in container traffic as 1,566,162 Twenty Equivalent Units (TEUs) in 2023 while 1,681,328 was recorded in 2022, representing a 6.8 per cent fall in container traffic.
However, there was a slight increase in the volumes of cargo that was brought into the nation’s ports as 122,873,684 tons were on record in 2023 as against 120,368,153 tons in 2022 showing an increase of 2.1 per cent.
“Container traffic during the period under review stood at 1,566,162 TEUs showing a decrease of 6.8 per cent from 1,681,328 TEUs handled in 2022. A further analysis of container traffic revealed that import container traffic accounted for 55.85 per cent with 874,683 TEUs, while export container traffic stood at 684,586 TEUs representing 43.71 per cent of total container traffic.
“A breakdown of export container traffic revealed that empty containers accounted for about 80 per cent of total export container traffic.
“A total of 132,293 units of vehicles were handled during the period under review indicating a decrease of 32 percent from 194,550 units in 2022.
“The average turn-around-time of vessels was 4.0 days, compared with 5.1 days I. 2022. It is, however, worth noting that the significant improvement in average turn-around time vessel was brought about by the impact of Lekki Deep Seaport which achieved a turnaround of only one day.
“The increase in GRT despite a drop in the number of vessel calls revealed berthing of bigger vessels, especially at Lekki Port where the average GRT of the vessel is 45,185 compared to Apapa with 30, 565 GRT. This further gives credence to the importance of a deep sea to the Nigerian Maritime or port development.
“Therefore, the collective efforts of all the stakeholders are required to ensure that Lekki Deep Seaport does not suffer the fate of Apapa concerning ease of cargo evacuation.”
By Aduragbemi Omiyale
The pre-registration training and examination for capital market operators (CMOs) for the second quarter of 2026 has been postponed.
Business Post gathered that the new date for the exercise is now Monday, June 15, 2026.
This information was disclosed by the Securities and Exchange Commission (SEC) through a circular on Monday, June 8, 2026.
The Nigerian capital market regulator stated that this postponement has also resulted in the extension of the deadline for registration to Friday, June 12, 2026.
In the notice today, the SEC expressed its regret for the inconvenience this action may cause operators, who had prepared for the initial date of the training and examination.
“Further to the recent circular on Q2 2026 Pre-registration Training and Examination, the Securities and Exchange Commission (SEC) hereby informs all eligible applicants for the Q2 2026 Pre-registration Training and Examination that the commencement date has been postponed to Monday, June 15, 2026.
“Registration on the designated portal has also been extended to Friday, June 12, 2026. All other conditions contained in the circular remain unchanged.
“The commission regrets any inconvenience this postponement may cause and appreciates the understanding of all applicants,” the disclosure noted.
By Aduragbemi Omiyale
One of the leading healthcare firms in Nigeria, Fidson Healthcare Plc, has listed additional shares on the Nigerian Exchange (NGX) Limited.
The new stocks absorbed into the stock market were 600 million units, raising the total issued and fully paid-up shares of Fidson to 3,000,000,000 ordinary shares of 50 Kobo each from 2,400,000,000 ordinary shares of 50 Kobo each.
The fresh equities came from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share.
They were issued to existing investors on the basis of one new ordinary share for every existing four ordinary shares held as of the close of business on Wednesday, November 12, 2025.
Confirming the development, the regulator in a notice said, “Trading licence holders are hereby notified that an additional 600,000,000 ordinary shares of 50 Kobo each of Fidson Healthcare Plc were on Tuesday, June 2, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares arose from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share on the basis of one new ordinary share for every existing four ordinary shares held as at the close of business on Wednesday, November 12, 2025.
“With the listing of the additional 600,000,000 ordinary shares, the total issued and fully paid-up shares of Fidson Healthcare Plc have now increased from 2,400,000,000 to 3,000,000,000 ordinary shares of 50 Kobo each.”
By Modupe Gbadeyanka
This news will surely excite local contractors with verified claims of N100 million or less, as the federal government has approved their payments.
This approval for the disbursement was given by the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele.
This followed a verification and reconciliation exercise designed to ensure only validated claims qualify for payment.
The beneficiaries cover contractors across multiple ministries, departments and agencies. The release of the funds is expected to enable contractors to return to project sites, pay workers, settle suppliers and meet outstanding financial commitments.
In an announcement on Monday, the Federal Ministry of Finance also said this latest batch of payments would ease liquidity pressure on small businesses and accelerate economic activity nationwide.
It was noted that the payments for verified claims of N100 million below were strategically done to spread economic impact broadly rather than concentrate disbursements among a handful of large firms.
The payments form part of a broader push to clear inherited contractor obligations, with over N700 billion verified in recent months.
“For many beneficiaries, the release of funds represents more than a financial transaction. It provides the certainty needed to sustain operations, preserve jobs, complete ongoing projects, and contribute to economic recovery and growth,” the ministry said in a statement.
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