By Adedapo Adesanya

The Comptroller-General of the Nigeria Customs Service (NCS), Mr Adewale Adeniyi, has unveiled a Green Channel initiative at the Lekki Deep Sea Port as part of efforts to simplify cargo clearance, reduce delays, and improve operational efficiency for port users.

The launch marks a major step in customs’ drive to enhance trade facilitation through technology and stakeholder collaboration.

Speaking at the event in Lagos, Mr Adeniyi said the initiative was introduced by the Lekki Deep Sea Port and approved by NCS management to address persistent challenges in container stacking and examination at major ports, which often slow cargo processing.

“This particular intervention helps to move containers right from the vessel into a dedicated place where customers can have access. And between the time the container moves from the vessel to this particular place, it is tracked,” he said.

The customs boss explained that the Green Channel is designed to ensure seamless cargo movement through a dedicated corridor with minimal bureaucratic obstacles, enabling faster turnaround time for importers and other stakeholders.

He described the initiative as a product of mutual trust between the agency and its stakeholders, stressing that compliance and cooperation are essential to its success.

“What we have done today is a product of the kind of trust that we have invested in our stakeholders and the confidence that we also have in them, that they would do this in the spirit of compliance and trade facilitation,” he said.

Mr Adeniyi added that beyond easing port operations, the Green Channel supports Nigeria’s broader economic objective of building a more competitive trade environment, noting that the initiative is expected to reduce the cost and time required to do business, ultimately boosting revenue generation for the service.

By Adedapo Adesanya

The federal government has assured stakeholders in the shea value chain that it would review the export ban on shea nuts, citing concerns over its impact on local producers, exporters and foreign exchange (FX) earnings.

On August 26, 2025, President Bola Tinubu directed a six-month temporary ban on the export of raw shea nuts.

According to NAN, the Minister of Industry, Trade and Investment, Mrs Jumoke Oduwole, at a stakeholders’ validation session on the ban on raw shea nuts exports in Nigeria on Thursday, said the ministry would brief the president after consultations across the value chain.

The Minister, at the gathering in Abuja, said the government recognises the right of citizens to earn a living and contribute to national development, adding that all inputs from stakeholders would be carefully reviewed and consolidated.

“All inputs from stakeholders will be carefully reviewed and consolidated before a decision is made on whether the ban should be extended immediately or deferred,” the Minister said, adding that, “The ministry will provide the president with factual and balanced information to guide further action.”

Mrs Oduwole said the ministry engaged widely with stakeholders to ensure all perspectives were considered in the ongoing policy deliberations.

The ministry, she said, received formal submissions from the umbrella association and held engagement sessions attended by various industry representatives.

The minister said the submissions were reproduced and circulated at the meeting to promote transparency and shared understanding.

“Relevant departments within the ministry worked jointly on the matter, and I personally reviewed the submissions to assess our position ahead of broader consultations,” she said.

In his remarks, the Minister of Agriculture and Food Security, Mr Abubakar Kyari, said the meeting was convened to review the ban objectively, underscoring the need for verified facts and transparency.

Mr Kyari said government decisions intend to protect jobs and encourage local value addition, adding that policies should be assessed holistically based on evidence and measurable impact.

Rationalising the ban last August, the Vice President, Mr Kashim Shettima, said while Nigeria produces nearly 40 per cent of the global Shea product, it accounts for only 1 per cent of the market share of $6.5 billion.

“This is unacceptable. We are projected to earn about $300 million annually in the short term, and by 2027, there will be a 10-fold increase. This is our target,” the VP stated.

He explained that the ban was a collective decision involving the sub-nationals and the federal government with clear directions for economic transformation in the overall interest of the nation, stressing that the “government is not closing doors; we are opening opportunities.”

By Adedapo Adesanya

For the third straight session, the NASD Over-the-Counter (OTC) Securities Exchange closed bearish, further losing 0.15 per cent on Thursday amid weak demand for unlisted stocks.

During the session, the NASD Unlisted Security Index (NSI) declined by 5.70 points to 3,908.67 points from 3,914.37 points, and the market capitalisation lost N3.41 billion to end N2.338 trillion compared with the N2.342 trillion it ended on Wednesday.

The alternative stock exchange suffered a loss despite having more price gainers than price losers, with five for the former and four for the latter.

Okitipupa Plc lost N10.00 to close at N250.00 per unit versus midweek’s N260.00 per unit, Central Securities Clearing System (CSCS) Plc depreciated by N4.98 to N64.92 per share from N69.90 per share, Industrial and General Insurance (IGI) Plc dropped 4 Kobo to sell at 50 Kobo per unit compared with the previous day’s 54 Kobo per unit, and Acorn Petroleum Plc moderated by 1 Kobo to N1.32 per share from N1.33 per share.

Conversely, 11 Plc gained N13.65 to quote at N276.55 per unit versus the preceding session’s N263.00 per unit, FrieslandCampina Wamco Nigeria Plc appreciated by N6.10 to N84.15 per share from N78.05 per share, Food Concepts Plc expanded by 32 Kobo to N3.60 per unit from N3.28 per unit, Geo-Fluids Plc improved by 30 Kobo to N3.60 per share from N3.30 per share, and First Trust Mortgage Bank Plc increased by 10 Kobo to N1.09 per unit from 99 Kobo per unit.

Yesterday, the volume of transactions surged 2,797.1 per cent to 45.8 million units from 1.6 million units, the value of transactions jumped 315.2 per cent to N208.2 million from N50.1 million, and the number of deals soared 18.2 per cent to 39 deals from 33 deals.

At the close of business, CSCS Plc remained the most active stock by value (year-to-date) with 32.6 million units worth N1.9 billion, followed by Geo-Fluids Plc with 117.4 million units valued at N463.1 million, and Resourcery Plc with 1.05 billion units exchanged for N408.6 million.

Resourcery Plc ended the session as the most traded stock by volume (year-to-date) with 1.05 billion units sold for N408.6 million, trailed by Geo-Fluids Plc with 117.4 million exchanged for N463.1 million, and CSCS Plc with 32.6 million units traded for N1.9 billion.