General
Maritime Workers Reject Planned 50% Deduction in NPA Revenue
By Adedapo Adesanya
Maritime workers, under the aegis of the Maritime Workers Union of Nigeria (MWUN) and the Senior Staff Association of Statutory Corporations and Government-Owned Companies (SSASCGOC), in the Nigerian Ports Authority (NPA), have rejected an order from the Ministry of Finance directing 50 per cent deduction from the Internally Generated Revenue (IGR) of the NPA.
In a circular, the ministry had directed the port regulator to pay 50 per cent of its revenue into the federation account as part of efforts to raise more revenue.
In response, the labour group warned that such a move posed grave danger for port operations and development amongst others, and instead advocated for a 30 per cent IGR deduction.
The bodies called on President Bola Tinubu to intervene to avoid a looming industrial unrest over the issue.
The unions stated that if the 50 per cent is allowed to be, it will impact the constant dredging of the port channels, regular maintenance of the quay apron, maintenance of port jetties and terminals, manpower development discharge of its Corporate Social Responsibilities (CSR) and staff welfare.
The unions, however, recommended that 30 per cent of the agency’s IGR should be deducted while 70 per cent is left for it to take care of its overhead cost and statutory responsibilities.
The unions said: “We have carefully studied this circular especially as it relates to/affects the Nigerian Ports Authority and hasten to express our displeasure over same on the following grounds. Nigerian Ports Authority (NPA) is a self-funded Government Agency which receives zero allocation from the Government budget and taking a chunk of 50 per cent of its internally generated revenue will as a matter of fact stall or impede the effective discharge of its corporate responsibilities and the consequential effect of this will not be palatable.
“Our channels are probably the shallowest in the West Africa Sub-region, especially the Eastern Ports channels, they require constant dredging without which vessels cannot be easily plotted to berth, Dredging of the Ports channels require huge financial outlay.
“This will be pretty ditty to achieve when 50% of its internally generated revenue Is removed, The resultant effect will lead to ship owners diverting their vessels to our neighbouring countries where ease of doing business is provided.
“Almost all the ports quay aprons are in bad shape due to old age and they therefore constitute grave danger not only to men but also to equipment. We had at one time or the other expressed fear over the dilapidated condition of our port quay aprons.
“Maintaining and sustaining healthy quay aprons is capital intensive and if our quay aprons are this bad now, one can only imagine what the situation would look like when NPA Is denied 50 per cent of Its revenue. We need to be proactive as our neighbouring countries are very ready to capitalize on our inability to provide the required infrastructure to attract ship owners.
“Maintenance of ports, jetties and terminals is also capital intensive. Presently all the infrastructures in our Ports, Jetties and Terminals are in decrepit position, yawning for urgent repairs. How would they then look like when the Authority is denied 50 per cent of its internally generated revenue? The situation is better imagined than described.
“A healthy and well-trained workforce is a pre-requisite condition for improved productivity and efficient service delivery. Needless to say, port operations are specialised ones that require a well-trained workforce to compete favourably and take the lead to become the hub of maritime business in the West African sub-region. A 50 per cent deduction of NPA internally generated revenue will impede the attainment of this lofty dream.
“Nigerian Ports Authority operates in a hostile environment, especially in the Eastern axis (Niger Delta). Discharge of corporate social responsibilities over time has immensely doused their restiveness, and this has fostered a clement environment for the Authority and other stakeholders to operate.
“Automatic deduction of 50 per cent of its internally generated revenue shall leave the Authority, financially incapacitated to discharge these responsibilities to the host community which may lead them to resort to unhealthy activities.
“Staff welfare issues are issues that require urgent attention; failure of which usually leads to inclement industrial atmosphere. Automatic deduction of 50 per cent of revenue internally generated will incapacitate the Authority from prompt attendance to staff welfare matters which will lead to avoidable crises.
“Flowing from the above, we hereby reiterate our objection to the circular as it relates to the Nigerian Ports Authority.
“We recommend that 30 per cent of the revenue internally generated by the Authority could be automatically deducted whilst 70 per cent is left for the Authority to accomplish its overhead costs and statutory responsibilities, failure of which the Union would have no other option than to withdraw the services of its members from all port’s formations nationwide.”
By Adedapo Adesanya
The South African Consulate General in Lagos, in partnership with Brand South Africa and the Development Bank of Southern Africa (DBSA), is hosting the 4th edition of the South Africa Focus Week in Lagos, Nigeria, from April 22 – 26, 2026.
The annual platform continues to grow as a strategic initiative aimed at fostering social cohesion between South Africans and Nigerians while positioning South Africa as a preferred destination for business, tourism, and education. Since its inception in 2023, South Africa Focus Week has attracted over 1,500 participants, bringing together stakeholders from across sectors, including trade and investment, arts and culture, tourism, aviation, and the culinary industry.
The 2026 edition holds particular significance as it coincides with the 30th anniversary of South Africa’s democratic Constitution, enacted in 1996, as well as 32 years of unbroken diplomatic relations between South Africa and Nigeria, established in February 1994. These milestones underscore the enduring partnership between the two nations, rooted in shared history and strengthened through formal agreements and ongoing collaboration.
The 2025 economic relationship between South Africa and Nigeria reflects a strategically significant, multi-dimensional partnership anchored in trade, energy security, investment flows, and strong institutional cooperation. While bilateral trade remains structurally imbalanced – with South Africa exporting US$468.48 million and importing $1.69 billion, resulting in a $1.22 billion deficit – this dynamic is largely driven by South Africa’s reliance on Nigerian crude oil, positioning the relationship as one of strategic interdependence rather than imbalance alone.
This partnership is further elevated by the relative economic weight of both countries. According to IMF projections, South Africa’s economy is valued at approximately $443.6 billion, while Nigeria’s stands at around $334.3 billion in nominal terms for 2026. As two of the largest economies on the continent, their bilateral engagement constitutes a central axis of African economic activity, with disproportionate influence on the success of continental integration efforts.
Beyond trade, the relationship is reinforced by deep two-way investment linkages. South African firms -including MTN Group, Shoprite, and Standard Bank – maintain a strong presence in Nigeria, while Nigerian companies such as Access Bank and Paystack have established a growing footprint in South Africa. Although investment flows are asymmetrical and some Nigerian firms have faced operational challenges, these exchanges reflect an emerging bi-directional economic corridor that extends beyond goods trade into services, finance, and digital innovation.
Aligned with Brand South Africa’s mandate to build the country’s global reputation and competitiveness, the week-long programme will convene leaders from government, business, civil society, academia, and the media. Discussions will focus on leveraging the African Continental Free Trade Area (AfCFTA) as a tool for market access and global positioning, with Nigeria serving as a key focal point.
The South Africa Focus Week has features a series of high-level engagements and cultural activities designed to deepen economic ties and promote collaboration: South Africa–Nigeria Infrastructure Investment Conference (April 22, 2026) which was held under the theme South Africa–Nigeria Partnership: Unlocking Infrastructure Opportunities,” the conference will bring together key stakeholders in infrastructure development to explore collaborative projects in road, rail, and transportation systems.
The forum also examined the role of Public–Private Partnerships (PPPs) and facilitated discussions on project financing and implementation with institutions such as the DBSA and Nigeria’s Infrastructure Concession Regulatory Commission (ICRC).
This was followed by the 2nd Economic Diplomacy Roundtable (Thursday, April 23, 2026), which was hosted in partnership with MTN Nigeria under the theme Role of Technology in Infrastructure Development, the roundtable will convene senior government officials, private sector leaders, and industry experts to identify investment opportunities and strengthen strategic partnerships.
Friday, April 24, was for Arts and Culture Experience, which is a dedicated cultural day will showcase Lagos’ creative spaces and features a panel discussion on South Africa’s arts, film, music, and culture. The programme includes a South African film screening, engagements with filmmakers, and a networking reception aimed at fostering collaboration between the creative industries of both countries.
The event continues on Thursday, April 25, with Freedom Day Celebration and Closing Ceremony. This commemorative event will celebrate 30 years of South Africa’s Constitution, 32 years of freedom and democracy, and the enduring diplomatic relations between South Africa and Nigeria. The ceremony will also provide an opportunity to reflect on outcomes from the week and outline future areas of cooperation.
The celebration forms part of Brand South Africa’s Global South Africans Programme, which recognises and connects South Africans in the diaspora as ambassadors of the nation’s values and identity.
The week climaxes with the 4th edition of the South Africa Golf Tournament at Ikoyi Golf Club on Saturday, April 26, 2026, which will be done in partnership with Crossflex International.
According to a statement, the event aims to strengthen people-to-people relations through sports diplomacy, bringing together South African and Nigerian golfers in a spirit of camaraderie and collaboration.
By Modupe Gbadeyanka
The former chairman of the defunct Skye Bank Plc, Mr Tunde Ayeni, has been apprehended by the Economic and Financial Crimes Commission (EFCC).
Spokesperson of the anti-money laundering agency, Mr Dele Oyewale, confirmed the arrest of the businessman on Friday but declined to provide further details, according to TheCable.
Mr Ayeni was accused of diverting the N36.5 billion and $30 million loans from Polaris Bank Limited to companies with which he has links.
He was alleged to have obtained the credit facilities for marine security, electricity distribution, and real estate projects, but moved them to telecom investments tied to NITEL/MTEL assets via a NATCOM account.
After the Central Bank of Nigeria (CBN) revoked the operating licence of Skye Bank in 2018, it nationalised it to Polaris Bank.
The EFCC has been looking into the alleged diversion of funds by Mr Ayeni, resulting in his arrest in Abuja on Thursday, April 23, 2026.
He is being grilled over the matter and would be arraigned in court once the investigation is concluded.
This is not the first time Mr Ayeni has been nabbed and probed by the EFCC, as this happened a few months after his bank lost its licence.
The then acting spokesman for the EFCC, Mr Tony Orilade, said Mr Ayeni was quizzed by detectives over issues related to fraud and embezzlement allegedly committed by him when he was Chairman of the bank a few years ago.
By Adedapo Adesanya
“We are fully committed to working with the new Commissioner of Police and giving all necessary support towards the successful discharge of his responsibilities.”
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