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Customs Area 1 Command Eyes Higher Revenue in 2025

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Mustapha Hashim customs area 1 command

By Bon Peters

The Area 1 Command of the Nigeria Customs Service (NCS) in Port Harcourt, Rivers States, has expressed confidence in raking in higher earnings in 2025 after it generated about N200.6 billion in 2024.

A statement by the command’s Public Relations Officer, Mr Oscar Ivara, a Superintendent of Customs, said last year’s revenue was higher than the N116.3 billion collected in 2023 by 72.41 per cent or N84.3 billion.

He quoted the Comptroller of the command, Mr Mustapha Hashim, as attributing “this impressive surplus” to the hard work, dedication, and operational improvements within the command, which he insisted have helped increase revenue while improving compliance with customs regulations.

He noted that the command’s strategic focus on enforcement operations and ensuring compliance with customs regulations have significantly contributed to the increase in revenue even as he applauded the improved monitoring systems, increased patrols, and enhanced collaboration with other enforcement agencies which he emphasized have played a critical role in curbing smuggling activities and improving revenue.

Continuing, Mr Hashim gave a breakdown of the 2024 revenue figures of the command to include N184.2 billion in the first quarter of 2024, with an estimated monthly collection of N15.4 billion, which he said was later reviewed upwards to N230.3 billion with monthly expected collection of N19.2 billion in the second to fourth quarters of the year.

The agency, however, reported an annual revenue target shortfall collection of about 13.04 per cent, which was largely attributed to the federal government’s food import waiver policy, introduced in July 2024, to mitigate Nigeria’s worsening food crisis.

“The presidential directive, which ended on December 31, 2024, gave waivers to essential food items such as wheat, maize, and grain, which are the major goods imported through the command,” he stated.

In the area of export activities, Mr Hashim posited that the command made notable strides in boosting revenue from agricultural products, which he referred to as a key indicator to Nigeria’s economic diversification.

“This focus has increased export facilitation and boosted the command’s contribution to national revenue,” he said.

He added that the total quantity of cargoes exported in the year 2024 was 17,352,817 metric tons with FOB at $1.5 billion, while the NESS paid was N2.9 billion for both oil and non-oil exports.

The statement also disclosed that a total of 289 ships called at the Area Command in 2024, with import tonnage comprised of bulk cargoes such as wheat, frozen fish, salt, oil well equipment, PMS, AGO, gypsum, bitumen and general cargoes which amounted to 4,080,654.198 metric tons and the duties collected from the bulk cargoes and excise factory   contributed to the huge revenue collected in the command.

He said the feat was achieved by advocating full compliance of all customs regulations by ensuring maximum collection of customs duties, levies and payment of all unpaid assessment.

Mr Hashim said with the command’s focused approach, dedication and continued support from partners and stakeholders, the revenue generation, anti-smuggling and trade facilitation drive for 2025 will be effective, promising that the command would deploy all necessary tools to ensure seamless clearance operations this year.

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Reps Okay N248.6bn Relief, 10-Year Debt Plan for Ikeja Electric, Two Others

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Ikeja Electric

By Adedapo Adesanya

The House of Representatives, via its Public Accounts Committee, has approved a N248.6 billion financial relief package alongside a 10-year debt restructuring plan for Kano, Jos and Ikeja Electricity Distribution Companies (DisCos).

The decision followed the adoption of a report by a technical subcommittee set up to review findings in the 2021 Auditor-General’s report, which highlighted rising indebtedness among electricity distribution firms.

The approved framework covers N128.57 billion in accrued interest spanning 2015 to September 2025, as well as N120.06 billion in historical debts. This brings the combined liability of the three DisCos to N248,637,089,278.83.

Chairman of the subcommittee, Mr Mark Chidi Obetta, said the intervention is aimed at stabilising Nigeria’s electricity market and addressing legacy financial burdens affecting the sector.

He noted that the measure forms part of broader legislative efforts to restore financial sustainability within the power distribution segment.

Findings from the report indicate that the total debt owed by the country’s 11 DisCos rose from N1 trillion in December 2024 to N1.3 trillion as of September 2025, covering both principal and accrued interest.

According to data from the Nigerian Bulk Electricity Trading Company (NBET), Abuja DisCo owes N275.16 billion, Kaduna DisCo N303.8 billion, and Jos DisCo N104.37 billion. Kano DisCo’s debt stands at N96.62 billion, while Ikeja DisCo owes N47.63 billion.

The committee said its investigation was designed to verify the Auditor-General’s claims, determine the current debt profile of the DisCos, and uncover reasons for persistent defaults in payment obligations.

During the review, Jos, Ikeja and Kano DisCos challenged the imposition of interest charges, arguing that existing Market Rules did not expressly provide for such penalties. This prompted regulatory clarification from the Nigerian Electricity Regulatory Commission (NERC).

In a directive issued in January 2026, NERC instructed NBET not to charge interest on outstanding invoices between 2015 and 2020, but permitted interest charges on debts from 2021 onward.

The regulator also ordered that interest linked to delays associated with Meristem be disregarded, directing NBET to recompute liabilities, including the N128 billion interest attributed to the three DisCos.

As part of the resolution, the committee recommended that the affected DisCos restructure their N120.06 billion historical debts over a period not exceeding 10 years.

It further directed that N13.39 billion in liabilities incurred by Kano DisCo during its period under government receivership be transferred to the Nigerian Electricity Liability Management Company (NELMCO), in line with established sector precedents.

The committee also called on NERC to mandate NBET to waive N128.57 billion in interest accrued between 2015 and September 2025, citing the escrow arrangement under which DisCos do not have direct access to their revenue collections.

Chairman of the Committee, Mr Bamidele Salam, urged all electricity distribution companies to meet their market obligations going forward, warning that failure to implement urgent financial and regulatory reforms could further threaten the sustainability of the sector.

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Glovo Holds Future of Commerce Summit 2.0 April 22 in Lagos

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Glovo Future of Commerce Summit

By Modupe Gbadeyanka

On Wednesday, April 22, 2026, the Future of Commerce Summit 2.0, put together by a leading technology platform, Glovo, will take place at the Landmark Events Centre, Victoria Island, Lagos.

Government stakeholders, policymakers, entrepreneurs, industry leaders, and innovators will gather for the second time to explore emerging trends, opportunities, and challenges shaping the commerce and logistics landscape.

At the inaugural edition last year, participants across Nigeria’s technology, digital, and commerce ecosystems had a meaningful dialogue on the future of commerce and innovation in the country.

A statement from the organisers assured that this year’s programme would be bigger and better as it would spotlight the role of digital platforms in driving economic growth, empowering small and medium-sized businesses (SMBs), and accelerating Nigeria’s digital transformation.

Speaking about the planned summit, the Interim General Manager of Glovo Nigeria, Ms Reni Onafeko, said that the event reflects the company’s commitment to empowering small and medium-sized businesses (SMBs), which are widely regarded as the backbone of Nigeria’s economy, with access to tools, insights, and digital infrastructure.

She explained that Future of Commerce 2.0 will focus on scaling impact across Nigerian cities, leveraging technology to drive inclusive growth and expand access to digital commerce opportunities.

“At Glovo, we are deeply committed to empowering local businesses and creating opportunities for SMBs to thrive in an increasingly digital economy. Nigeria’s commerce ecosystem is evolving rapidly, driven by innovation and a new generation of entrepreneurs.

“The Future of Commerce Summit 2.0 reflects our vision of fostering collaboration and equipping entrepreneurs with the tools and insights needed to scale sustainably.

“Through this platform, we aim to amplify the voices of businesses and drive impactful conversations that will shape the future of commerce in Nigeria,” Ms Onafeko noted.

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My Administration Will Uphold Tenets of Democracy—Tinubu

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President Tinubu renewed hope ambassadors

By Aduragbemi Omiyale

President Bola Tinubu has assured that his government would uphold the tenets of democracy, including the rule of law, the separation of powers and the rights of all citizens.

He gave this assurance on Thursday when he received a delegation of the Renewed Hope Ambassadors led by Governor Hope Uzodimma of Imo State at the State House in Abuja.

He used the occasion to also reaffirm his commitment to building a stable, peaceful, and prosperous nation, assuring that the well-being of Nigerians remains his top priority, stating that the political and economic structures that have long undermined the citizens’ prosperity are being steadily replaced through the realignment of the economy to enable full participation.

“We cannot submit to disobedience of a lawful order of the court; we must embrace the judiciary, whether it favours us or not. We submit to this principle of democracy, separation of powers, and understanding of the dynamics of it, and the nationhood that Nigeria is, that we must build one country. That’s what Renewed Hope is all about. You must give them that hope.

“There’s no other path for us to attain national greatness other than to build one common vision for the progress and prosperity of our people. That is what we must do,’’ Mr Tinubu stated.

The President charged the group to continue sensitising and mobilising citizens, especially at the grassroots, on the government’s efforts to improve their livelihoods through economic reforms.

“You represent the conscience of a nation that wants to break the shackles of poverty and hopelessness,” he disclosed at the event, which also had in attendance Vice President Kashim Shettima and the National Chairman of the ruling All Progressives Congress (APC), Mr Nentawe Goshwe Yilwatda.

Mr Tinubu reiterated that his government is guided by a clear vision to foster inclusive growth, create opportunities for youth, and ensure that every Nigerian—regardless of background or region—has a stake in the country’s future.

He encouraged citizens not to be discouraged by the misinformation championed by the opposition elements in the country, saying the great accomplishments witnessed in modern times were achieved through visionary leadership, assuring that Nigeria is in safe hands.

To the opposition, he said: “They want to scare me off? It’s a lie. I’ve been through this path before. And if I have to come back over and over and over again, I’ll do the same thing.

“There is no better place than your own country. And no one can build it except you. We saw great things, skyscrapers. We wonder how the plane takes off and flies us from one destination to another. There was no magic of yesterday. It is the thinker of tomorrow and the future that can elevate life, that can reform us all.

“And being the transformative leaders that you are, you are in good company. Don’t be afraid. I’ve listened to you.  I didn’t have to look back on the economy because the truth is, I took over from myself. The late Buhari was me. He was my partner.

“And if I took over from him. Is that not from me? So, if something is wrong, fine. Live with it, correct it, move on. The life voyage is not going to be easy. I can only stand before you and say you will not regret it. That is why we ask you to renew their hope.

“If they don’t want to see the hope and the roads and bridges, and the children we raise, the economy we are growing, we shall lend them Jigi-Bola, eyeglasses. One thing that you need from me is a promise that I won’t run away from the affair. With you, the deal is done.”

Turning to the Renewed Hope Ambassadors, President Tinubu promised to be their greatest champion, noting that, “We act as one family. You represent a conscience, a nation that wants to break the shackles of poverty, ignorance, and hopelessness. You are in a good company. That’s all I can say. And all I can promise is I won’t give up.”

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