Economy
NPA Seeks Hydrographic Survey Partnership With Navy
By Adedapo Adesanya
The Nigerian Ports Authority (NPA) has expressed its willingness to collaborate with the Nigerian Navy to localise training and capacity building on hydrographic survey.
This was disclosed by the NPA Managing Director, Mr Mohammed Bello-Koko disclosed over the weekend in Lagos when he received the new Flag Officer Commanding (FOC), Western Naval Command, Rear Admiral Yakubu Wambai on a courtesy call.
A statement by Mr Ibrahim Nasiru, NPA’s General Manager, Corporate and Strategic Communications, quoted the NPA helmsman as saying that the collaboration would enhance activities in the maritime sector and boost Nigeria’s economy.
While acknowledging the cordial relationship between the two organisations spanning over a century, Mr Bello-Koko assured the new FOC of NPA’s unflinching co-operation in the task of protecting the nations’ waterways against inland and coastal threats to safe navigation.
“The NPA will continue to render the required assistance whenever the need arises,” he assured the FOC.
The NPA boss appreciated the role played by the Command with respect to the “360 Degrees Security Exercise” that was recently carried out to remove all physical contraptions and unscrupulous human elements identified as security threats around the seaports in Lagos.
He informed the FOC that a repeat of the exercise would take place in the nearest future, adding that NPA would continue to work jointly with the Command in keeping the port access corridors safe from all types of threats.
Mr Bello-Koko lauded the Nigerian Navy on the delivery and inauguration of “NNS LANA”, a modern purpose-built hydrographic research vessel, that would enable the Navy to perform missions such as oceanographic and hydrographic surveys.
Other missions include search and rescue, fishery survey and patrol in the exclusive economic zone of Nigeria.
He also commended the Navy for quality manpower development in the hydrographic survey for the country.
While lamenting the dearth of qualified hydrographers in the NPA, he expressed optimism that partnering with the Nigerian Navy Hydrographic School would guarantee high-level manpower at a lower cost, rather than send staff abroad for such training.
On the request for tug boats to support the NN in its operations, he explained that available options would be considered to assist, “although the NPA currently faces some constraints arising from its contractual relations with a third-party service provider”.
On the issue of wrecks preventing access to the Defence Jetty along the Lagos Marina, Bello-Koko assured the FOC that NPA would liaise with the Nigerian Maritime Administration (NIMASA) for support to get the wrecks removed.
He added that the NPA would continue to facilitate berthing spaces for vessels arrested by order of the Court.
On his part, the new FOC had described the courtesy visit to the NPA as customary and necessary to advance the strong bonds of partnership between the two institutions.
He expressed the Chief of Naval Staff’s deep appreciation to the NPA for the tremendous support provided by the Nigerian Navy over the years in its quest to effectively safeguard the country’s territorial waters.
He said that the support enjoyed by the NN from the NPA in the promotion of safety and security within the Nigerian waters led to the International Maritime Bureau’s recent declaration of Nigeria as a Piracy-Free Country, following no record of incidents at the nation’s port anchorage.
He equally thanked NPA for making available a land area at Takwa Bay for the Command’s operations.
“The support provided by the NPA under the Bello-Koko led Management is worthy of emulation,” he declared.
By Aduragbemi Omiyale
Barring any last-minute changes, the 50th Annual General Meeting (AGM) of Champion Breweries Plc will take place on Thursday, May 21, 2026, at the Oriental Hotel, Victoria Island, Lagos, at 11:00 am.
At the yearly shareholders’ gathering, some of the key statutory and governance matters to be considered will include the Audited Financial Statements for the year ended December 31, 2025, alongside the Reports of the Directors, Auditors, and the Audit Committee.
Other agenda items are the declaration of dividends, election and re-election of Directors, authorisation for Directors to determine the remuneration of the Auditors, and election/re-election of shareholders’ representatives to the Audit Committee.
In line with its commitment to transparency, accountability, and shareholder engagement, the AGM will be held physically while also being accessible to stakeholders via the company’s official website: www.championbreweries.com.
This year’s AGM comes at a defining moment in the organisation’s corporate journey, following a transformative year marked by strategic expansion initiatives, including the acquisition of Bullet Energy Drink and its successful engagement with the capital market to raise growth capital.
These developments reinforce Champion Breweries Plc’s commitment to strengthening its competitive positioning, expanding its portfolio, and delivering long-term shareholder value.
The brewer has strengthened its transition into a group structure with the acquisition of an 80 per cent stake in enJOYbev B.V., a strategic move already delivering early earnings contribution and validating its international expansion drive.
The subsidiary’s results are now being consolidated into the Group accounts for the first time, with enJOYbev B.V. already contributing positively to earnings through operating profitability within the reporting period, an early validation of the group’s expansion strategy.
“This AGM reflects a defining chapter in our journey as a Company. The acquisition of Bullet, our successful capital market engagement, and the integration of enJOYbev B.V. into our group structure all signal a deliberate strategy for sustainable growth and diversification.
“These milestones position Champion Breweries Plc for stronger performance, broader market reach, and enhanced shareholder value. We remain committed to disciplined execution, operational excellence, and the highest standards of corporate governance,” the chairman of Champion Breweries, Mr Imo Abasi Jacob, said.
By Adedapo Adesanya
The Nigeria Revenue Service (NRS) has unveiled a unified Taxpayer Identification (Tax ID) system for all taxable persons across the country as part of efforts to strengthen tax administration and improve transparency.
The agency announced the development in a public notice issued jointly with the Joint Revenue Board (JRB) on Monday.
According to the notice, the initiative is backed by Sections 6, 7, and 8 of the Nigeria Tax Administration Act, 2025, which mandate every taxable person in Nigeria to obtain a Tax ID, in a wider move to expand the country’s tax base.
The NRS said the new framework is designed to create a centralised and harmonised taxpayer database that would enhance interactions between taxpayers and revenue authorities at both federal and sub-national levels.
“The Tax ID will serve as a single, unified identity for all taxpayers, enabling seamless interaction with tax authorities at both federal and sub-national levels. It is designed to consolidate taxpayer records, eliminate duplication, and ensure more efficient management of tax-related information,” the agency stated.
The revenue agency explained that the new system would simplify tax compliance procedures, including taxpayer registration, filing of returns, and payment processes.
According to the NRS, the framework is also expected to improve accountability and reduce leakages in tax collection by creating better visibility and tracking of taxpayer information nationwide.
“The initiative will simplify tax compliance processes, including registration, tax filing, and payment procedures. The system will improve transparency by enabling better visibility and tracking of taxpayer records while reducing leakages and improving accountability in tax collection. The framework will also harmonise taxpayer information across all levels of government,” the notice added.
The agency further disclosed that the new Tax ID system would replace the existing Tax Identification Number (TIN) Validation API currently used by Ministries, Departments and Agencies (MDAs), financial institutions, and other organisations for taxpayer verification.
By Adedapo Adesanya
Three bellwether stocks weakened the NASD Over-the-Counter (OTC) Securities Exchange by 1.31 per cent on Monday, May 18.
This brought the NASD Unlisted Security Index (NSI) by 54.71 points to 4,133.70 points from 4,188.41 points, and shrank the market capitalisation by N32.73 billion to N2.473 trillion from N2.506 trillion.
Yesterday, FrieslandCampina Wamco Plc contracted by N12.45 to sell at N146.55 per share compared with last Friday’s closing price of N159.00 per share, Central Securities and Clearing System (CSCS) Plc declined by N2.34 to N70.00 per unit from N72.34 per unit, and NASD Plc lost 50 Kobo to trade at N34.50 per share versus N35.00 per share.
The trio overpowered the N5.56 gained Newrest Asl Plc. This stock ended the trading session at N61.15 per unit, in contrast to the previous session’s N55.59 per unit.
During the trading day, the volume of securities traded by investors slid by 56.1 per cent to 514,142 units from 1.2 million units, and the value of securities dropped 29.8 per cent to close at N17.4 million versus N29.8 million, while the number of deals jumped 12.5 per cent to 27 deals from 24 deals.
Great Nigeria Insurance (GNI) Plc remained the most traded stock by value on a year-to-date basis, with 3.4 billion units sold for N8.4 billion, followed by CSCS Plc with 60.8 million units exchanged for N4.1 billion, and Okitipupa Plc with 27.9 million units traded for N1.9 billion.
GNI Plc also ended the day as the most traded stock by volume on a year-to-date basis with 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units valued at N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units transacted for N1.2 billion.
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