General
Customs to Prioritise Port Decongestion—Acting Comptroller
By Adedapo Adesanya
The Acting Comptroller General of Customs, Mr Adewale Adeniyi, has said that the service under his administration will focus on decongesting the nation’s ports.
He made this disclosed at a briefing at the Presidential Villa on Tuesday, explaining that he would make the ports more user-friendly and improve an export-led economic development strategy.
After a meeting with President Bola Tinubu, Mr Adeniyi said officers and men of the service would carry out their duties in line with the objectives of the Customs Service and the Policy Advisory Document on the Customs (PAC).
“We had discussions regarding what Customs can bring to the table to actualise the vision of renewed hope for Nigeria, what customers can do in terms of addressing gaps in revenue generation in the customs, our enforcement strategies and most importantly, the issue of promoting port efficiency and competitiveness of our ports.
“In terms of specifics, I am sure that we are all very, very familiar with the Presidential Advisory Council. And there is a document which has been made public. Our discussions centre around aligning the vision of customs and the activities of customs in the short, medium and long terms with those noble objectives set out in the PAC documents.
“So, we’re talking about making our ports user-friendly.
“We’re talking about decongesting the ports, we talked about 48 hours clearance of goods around the ports, export-led inward-looking economic development strategies. So these are some of the issues that we discussed.
“And I pledged the commitment of the customs to bring out reforms and to collaborate with other agencies of government to achieve some of those objectives stated in the PAC documents,” he said.
Mr Adeniyi said the recent election of Tinubu as ECOWAS Chairman means more work for Nigeria Customs and strong collaboration among countries in the region.
“For us in the Nigerian Customs Service, ECOWAS represents a very bold attempt to forge regional integration, cooperation in border security and monetary affairs.
“And it is so good to note that my assumption of office coincides with that period when attention will be focused on Nigeria holding the flag of regional integration.
“I can also tell you that part of my discussions with Mr President is to actively engage customs administrations across our borders, particularly the strategic ones that we must work and collaborate with for us to achieve common objectives of border security and regional integration.
“In the next one week, or thereabout, I will be paying an official visit to the Republic of Benin to have discussions with the Customs Administration of Benin and see how we can take forward the issue of collaborations between us, the issue of border security, the issue of importation across the border, and more importantly, how we can deploy technological solutions to very complex border problems,” he said.
By Adedapo Adesanya
The Minister of Communications, Innovation and Digital Economy, Mr Bosun Tijani, has announced that Nigeria will launch a new alphanumeric postcode system on October 1, 2026, with every home expected to have a unique postcode.
Mr Tijani disclosed the development in a video post on X, describing the new system as a more precise and digitally oriented approach to addressing locations across the country.
He said the initiative would mark a significant shift in Nigeria’s postal addressing system by assigning unique postcodes to individual homes.
The initiative marks a major step in Nigeria’s digital transformation agenda. By replacing the outdated numeric-only system, the alphanumeric codes provide a more flexible and scalable framework that can accommodate the country’s rapid urban growth and diverse settlement patterns.
For emphasis, an alphanumeric postcode system is a postal indexing system that uses a combination of both letters (alpha) and numbers (numeric), along with spaces or punctuation, to identify specific geographic locations, streets, or individual buildings for mail delivery.
Unlike purely numeric postcode systems (such as the 5-digit US ZIP Code or 5-digit codes used in some European countries), alphanumeric codes offer a much higher number of unique combinations using fewer total characters. This flexibility allows postal authorities to pinpoint locations with incredible precision, often down to a single side of a street or a specific large building.
“On October 1st 2026 Nigeria’s new Alphanumeric Postcode System goes live,” Mr Tijani said.
“For the first time, every home will be assigned a unique postcode that’s simple, precise and built for a digital future,” he added.
The minister urged Nigerians to prepare to generate their individual postcodes ahead of the launch.
The new system is expected to strengthen Nigeria’s digital addressing infrastructure and improve the identification and location of homes and properties for postal and other location-based services.
The initiative is being implemented in collaboration with the Nigerian Postal Service (NIPOST) as part of broader efforts to modernise the country’s addressing and digital infrastructure.
By Modupe Gbadeyanka
The Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele, has been directed to give an account to Nigerians on how the current government has fared since its inception on May 29, 2023.
This directive was given by President Bola Tinubu in a message posted on his verified social media handles on Wednesday.
This coincides with the commencement of campaigns for the 2027 presidential election scheduled for January 16.
According to the timetable of the Independent National Electoral Commission (INEC), candidates seeking to become the country’s president are eligible to kick off their campaigns from today, Wednesday, August 19, 2026.
In his message today, Mr Tinubu said, “When we began this journey of reform in 2023, I promised that the difficult decisions we were making would serve the purpose of building an economy that works better for you and a country that is stronger for our children.
“Today, your government presents The Reforms Scorecard. It sets out what our reforms have achieved, what they have cost us, and the greater costs and harms we have prevented by acting when we did.
“I have therefore directed the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, to give an account to Nigerians, to explain the numbers, the choices we have made, the progress recorded, and the work that remains.
“You deserve to see the numbers. You deserve to know what has changed and what these reforms mean for you, your family, your business and our country.
“This is your government. This is your country. This is our account to you.”
Shortly after he took the oath of office over three years ago, President Tinubu declared that subsidies on petroleum products were gone. He later approved foreign exchange (FX) reforms, which devalued the Nigerian Naira, shooting from about N800 per Dollar to nearly N2,000 per Dollar. However, it is currently slightly above N1,340 per Dollar in the official market.
By Adedapo Adesanya
The Nigerian National Petroleum Company (NNPC) Limited and the Nigerian Agip Exploration (NAE) Limited are advancing discussions on the development of deepwater assets estimated to hold 500 million barrels of oil reserves.
The development followed a meeting between the chief executive of the state oil company, Mr Bayo Ojulari, and Agip’s Vice Chairman and Managing Director, Mr Maurizio Pinna, in Abuja.
The talks focused on ongoing work on deepwater acreage jointly held by NNPC, NAE and Shell Nigeria Exploration and Production Company (SNEPCo) as well as plans to bring the associated resources into production.
According to NNPC, the acreage comprises the Zabazaba and Etan deepwater fields, with estimated reserves of about 500 million barrels.
The fields are located in Nigeria’s deepwater terrain and are considered significant to the country’s efforts to expand its upstream oil production base, particularly as operators seek to advance projects capable of delivering additional barrels over the medium to long term.
While details of the expected production timeline were not disclosed, the meeting underscores renewed industry focus on unlocking Nigeria’s deepwater resources and growing crude oil production.
The acreage comprises licences converted from OPL 245 and is operated by NAE in partnership with NNPC Limited and SNEPCo.
Mr Ojulari and Mr Pinna also reviewed the work currently underway on the assets and the expected production outlook, with the discussions centred on advancing deepwater development.
The engagement comes amid renewed efforts to attract investment into Nigeria’s offshore petroleum resources and increase national oil production.
