General
IMO Lauds Nigeria’s Efforts on Security in Gulf of Guinea
By Adedapo Adesanya
The International Maritime Organisation (IMO) has commended the efforts being made by the Nigerian authorities to maintain the safety and security of commercial shipping in the Gulf of Guinea, evidenced by the increased shipping traffic around the Red Sea region.
The Gulf of Guinea is a large gulf off the Western coast of Africa, forming part of the Atlantic Ocean. It is crucial to Nigeria’s oil production and export activities. Apart from Nigeria, it extends to several countries like Gabon, Liberia, Ghana, Togo, Benin, Cameroon, and Equatorial Guinea, among others.
The Secretary-General of the organisation, Mr Arsenio Dominguez, at a meeting with the Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Mr Dayo Mobereola, in London, also said the situation in the Red Sea has led to heavier shipping traffic in the region.
He praised NIMASA for engaging the technical team at the IMO on how Nigeria can address all identified gaps from the 2016 audit conducted by the organisation.
“I want to appreciate the effort of Nigeria on the progress made so far as regards security in the Gulf of Guinea region. There were concerns due to the situation in the Red Sea and resultant pressure around the Gulf of Guinea but we are pleased that the situation has remained the same. We at IMO have been working with Nigeria through NIMASA and we desire that the partnership continues.
“I am also happy that you, DG, are meeting with IMO technical staff on how to close all identified gaps before the next audit cycle. This is a step in the right direction, and we are ready to give any technical support,” he stated.
The IMO scribe also announced that the Organization is working on enhancing the Global Integrated Shipping Information System (GISIS) to provide better services to member states in terms of information management.
On his part, Mr Mobereola reiterated that his administration will pay attention to details on how Nigeria can become a voice to be reckoned with in global maritime diplomacy, adding that Nigeria is committed to sustaining the momentum of recent achievements in safety and security within the maritime domain.
“My tenure will leverage existing relationships both locally and internationally to sustain the momentum in safety and security within the Nigerian maritime domain. The creation of the Marine and Blue Economy Ministry in Nigeria by Mr. President emphasizes the policy direction of this administration.
“Our goal is to ensure that Nigeria plays an active leading role not just in the region or the IMO, but in the global maritime space,” he disclosed.
The NIMASA DG explained that his meeting with the IMO technical staff was aimed at ensuring that NIMASA and the IMO are aligned before the next audit cycle.
“I discovered today that some critical information regarding our administration and the technical team at the IMO is obsolete, and we are reviewing it to update it immediately. We do not see the IMO audit as an examination but rather as a guide to assist Nigeria in achieving its potential; hence, my decision to get personally involved. We need to get the basics right,” he noted.
The NIMASA helmsman also announced that the federal government has constituted a committee to address all areas of concern raised in the 2016 IMO audit report, adding that this includes reviewing NIMASA’s enabling laws and effectively implementing a corrective action plan.
By Adedapo Adesanya
The Nigeria–China Strategic Partnership (NCSP) recently hosted a high-level delegation from Newryton International Industrial Development Company Limited, a leading Chinese investment and industrial development consortium, to advance discussions on deepening bilateral trade, industrial cooperation, and development financing between both countries.
The Newryton delegation, led by Mr David Chen, Assistant Secretary-General of the China Hainan Investment Council, had earlier engaged with the Nigerian Association of Commerce, Industry, Mines and Agriculture (NACCIMA). They were accompanied to the NCSP by Mr Joe Onyuike, Vice-Chairman of NACCIMA’s Agriculture and Livestock Trade Group, who conveyed NACCIMA’s support for the delegation’s engagements.
Discussions centered on the establishment of a Nigeria–China Trade and Investment Platform, including a proposed Promotion Centre in China to support Nigerian products, investors, and state governments.
The consortium also presented opportunities within Hainan Province’s Free Trade Port (FTP), which offers preferential policies that Nigerian businesses can leverage to expand exports and attract new investments.
In his address on behalf of Newryton, Mr Pong outlined plans to collaborate with NCSP in accessing FOCAC-supported financing for strategic investments in agriculture, energy, mining, solid minerals processing, and related sectors. The delegation identified aquaculture as a key area of interest and referenced the forthcoming Global Aquaculture Conference in Hainan Province, encouraging Nigerian stakeholders to participate.
They also expressed readiness to strengthen cooperation in vocational training and employment under the Belt and Road Initiative (BRI).
Welcoming the delegation on behalf of the Director-General, Martins Olajide, NCSP’s Head of Internal Operations, reaffirmed the organisation’s commitment to fostering mutually beneficial partnerships.
He highlighted NCSP’s strong interest in the proposed Nigeria–China Trade and Investment Platform and the development of the Nigerian Oil Palm Industrial Park as a flagship demonstration project.
Also speaking at the meeting, Ms Judy Melifonwu, NCSP’s Head of International Relations, underscored the opportunities presented by China’s zero-tariff policy and the forthcoming NAQS–GACC protocol on the export of Nigerian aquaculture products. She noted that these frameworks would significantly enhance Nigeria’s competitiveness in emerging global markets.
Both parties expressed commitment to advancing discussions toward a structured cooperation framework covering all priority areas.
By Adedapo Adesanya
The United Kingdom–Nigeria Infrastructure Advisory Facility (UKNIAF), established in 2019 as part of a 16-year legacy of UK-funded infrastructure support to Nigeria, convened over 100 senior stakeholders on Tuesday, December 2, to review its progress and formally close out its current phase of operations.
The event brought together representatives from federal and state governments, development partners, development finance institutions, and the private sector to reflect on UKNIAF’s work across the power, infrastructure finance, and roads sectors. Discussions focused on institutional reforms, capacity development, and the sustainability of tools and processes introduced over the past six years.
Since inception, UKNIAF has delivered targeted technical assistance designed to embed evidence-based reforms, data-driven decision-making, and improved institutional performance. Its interventions have mobilised significant financing, strengthened regulatory and planning systems, and enhanced investor readiness across multiple infrastructure markets.
In the power sector, participants highlighted landmark achievements including the development of Nigeria’s first Integrated Resource Plan, which outlines a least-cost and low-carbon pathway for expanding electricity supply. UKNIAF also supported the Nigerian Electricity Regulatory Commission (NERC) in building advanced real-time data capabilities for tariff monitoring, grid management, and outage tracking. The programme enabled pioneering states to establish their own electricity markets following constitutional reforms.
In infrastructure finance, UKNIAF was recognised for strengthening project preparation systems and enabling access to capital. Notable accomplishments include supporting the mobilisation of $75 million from the African Development Bank to the Special Agro-Industrial Processing Zone (SAPZ) programme in two states, and accelerating mini-grid and solar deployment through improved technical standards at the Rural Electrification Agency (REA).
UKNIAF also designed a national project preparation facility, for which N21 billion was allocated in both the 2024 and 2025 budgets to build a pipeline of bankable projects.
Speaking on this, Mr Frank Edozie, UKNIAF Team Lead, described the programme’s close-out as a “handover for sustained delivery,” emphasising that strengthened institutions now hold tools that make Nigeria’s infrastructure landscape more transparent, climate-smart, and investor-ready.
On his part, the Minister of Power, Mr Adebayo Adelabu, commended the programme, noting that its technical assistance and advisory services had helped lay the foundation for a sustainable and inclusive electricity supply industry.
Mrs Cynthia Rowe, Head of Development Corporation at the UK Foreign, Commonwealth and Development Office (FCDO) in Nigeria, praised the partnership, highlighting achievements ranging from state-level electricity market reforms to unlocking major financing and designing Nigeria’s Climate Change Fund.
Enugu State Secretary to the State Government, Professor Chidiebere Onyia, underscored the lasting influence of the programme, stating that UKNIAF’s impact continues through the expertise and leadership transferred to national and sub-national institutions.
The close-out event reaffirmed stakeholders’ commitment to sustaining tools, reforms, and knowledge products developed under UKNIAF, while strengthening collaboration among public, private, and development actors in the infrastructure ecosystem.
Participants included federal and state agencies such as the Nigeria Governors’ Forum, Federal Ministry of Power, Ministry of Finance, NERC, REA, and the Transmission Company of Nigeria, alongside development partners including the African Development Bank, World Bank, and IFC, as well as private sector and civil society stakeholders.
By Aduragbemi Omiyale
The gantry price of Premium Motor Spirit (PMS), otherwise known as petrol, has been slashed by the Dangote Petroleum Refinery.
The Lagos-based oil facility brought down the ex-depot price of the petroleum product by 15.58 per cent or N129 per litre to N828 per litre.
Though the company had yet to release an official statement on this development, real-time market data on Petroleumprice.ng on Friday showed the new price.
Punch reports that data from the platform also showed fresh reductions across several private depots following the refinery’s latest review.
Sigmund Depot cut its ex-depot price by N4 to N824 per litre, Bulk Strategic dropped its price by N3, and TechnoOil slashed its by N15.
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