Business

FG Approves N180m for PSTT To Fight Corruption At Nigerian Seaports

Published

3 years ago

May 4, 2023

Editor

The Permanent Secretary of the Ministry, Dr. Magdalene Ajani, said his at the 3rd roundtable on Maritime Sector Reforms: “Consolidating the Gains,” held in Lagos on Wednesday.

The roundtable was organised by the Maritime Anti-Corruption Network (MACN) and Convention on Business Integrity (CBI).

Ajani was represented by Babatunde Sule, who noted that the Federal Government instructed Nigerian Shippers’ Council (NSC), Nigerian Ports Authority (NPA) and Nigerian Maritime Administration and Safety Agency (NIMASA) to provide funds and operational vehicles for the PSTT.

Ajani added that the government agencies were instructed to provide N60 million each for the Port Standing Task Team to carry on the anti-corruption crusade across the nation’s ports.

“Port administration policy is such that port users are able to demand, track, and ensure greater compliance with Standard Operating Procedures (SOPs) by government agencies.

“And so, incidences of corrupt demands as it relates to vessel clearance has reduced.

“Government capacity to establish policy on compliance systems and collaborate with the private sector and civil society to improve trade flows and the ease of doing business are being strengthened,” she said.

She said that the ministry, through the NSC, the Technical Unit on Government and Anti-Corruption Reforms (TUGAR), and other agencies, Nigeria was poised to augment its standing by further institutionalising and continuously sustaining its reforms.

The National Coordinator of PSTT, Mr Moses Fadipe, confirmed the approval for the operations of the task team, adding that only NSC, being the leading agency, had responded to the government’s instruction.

He revealed that other agencies, which included NIMASA and NPA, were yet to respond and the PSTT had not received anything from them.

Fadipe noted that the Nigerian maritime sector had made significant progress towards promoting efficiency and transparency in recent years.

“The PSTT has played a significant role in transforming the sector through its commendable monitoring and enforcement of adherence to the provisions of the Nigerian Ports Process Manual and in its discharge of other ancillary mandates.

“The task team’s interventions have led to a reduction in inefficiencies and corruption, and there has been a positive impact on the economy.

“Strict monitoring and enforcement of joint boarding of vessels procedure, transparency in monitoring, strict monitoring of joint cargo examinations, and the dismantling of illegal checkpoints and extortion points have all contributed to the improvement of the sector,” he said

Business

Why We Sited Our Multi-Billion Naira Automobile Firm Branch in Benin – Skyewise Group CEO

Published

21 hours ago

May 4, 2026

Editor

Dr. Elvis Abuyere, Chief Executive Officer and Managing Director of Skyewise Group, an automobile firm, has explained the reason for establishing a branch of the company in Benin City, the Edo State capital, describing the ancient city as “a growing economy full of enormous potential for vibrant youth.”

He added that the company considers Edo State one of the most interesting states, noting that the decision aligns with its long-term vision.

Abuyere, who spoke in Benin on Monday while taking journalists on a tour of the new automobile facility, said:
“We started very small — from Abuja to Lagos and now Benin. It is a joy and privilege for us to have completed this amazing regional office with Skyewise Group.”

According to him, beyond the automobile business, Skyewise Group is in Benin to invest in real estate, logistics, youth empowerment, and credit management. “Aand also to lend our support to what the Edo State Government is doing, knowing the fact that there is an agenda,” he added.

The young CEO urged youths in Nigeria, particularly those in Edo State, to embrace entrepreneurship, stressing that “we believe it is the future of Africa,” especially Nigeria.

He said Nigeria stands as the giant of Africa and that its youth must take bold steps in the entrepreneurship landscape.

According to Abuyere, to ensure Edo youths actualise their entrepreneurial potential, the company has prepared soft loans to help them start businesses, adding that Skyewise Group is not limited to automobile operations.

He said: “More importantly to us is youth empowerment. We want our youth to be empowered, and this is where the Skyewise Foundation comes in.

“We believe the future of Africa is entrepreneurship, and that future lies in the hands of the young people of Nigeria. We want to empower them to stand the test of time, build something meaningful, and reduce unemployment and insecurity in our land.

“I believe we need to begin taking bold steps by refining the mindset of our young people. We need to give them a sense of belonging and direction.

“We have been addressing the liquidity gap in society by providing microloans to support businesses in our environment and in Benin City.”

When asked why he chose Benin City for the multi-billion naira automobile firm, Abuyere noted: “I think this is the first automobile showroom in Edo State where you can see a car lifted from the ground floor to the first floor and beyond.”

Business

JUST IN: Nigerian Filling Stations Reduce Fuel Price After Hike

Published

3 days ago

May 2, 2026

Editor

Nigerian filling stations reduced their Premium Motor Spirit price on Saturday, barely 24 hours after the hike.

Checks by DAILY POST showed that Ranoil, Empire Energy, and other filling stations in Abuja adjusted their petrol pumps to N1,365 and N1,375 per litre respectively, down from N1,440 per litre on Friday.

This means that petroleum marketers dropped their fuel price by N65 and N75 per litre. DAILY POST reports that the move was to attract patronage from customers.

Recall that three days ago, Nigerian filling stations had raised their petrol pump price to between N1,365 and N1,440 nationwide after Dangote Refinery and depot owners increased ex-depot prices to around N1,275 and N1,290 per litre.

According to DAILY POST, while the Nigerian National Petroleum Company Limited and MRS Bovas filling stations raised their petrol price to around N1,365 per litre, others adjusted theirs above N1,440 per litre.

However, with the latest fuel price reduction by Ranoil and Empire Energy, the majority of filling station outlets now dispense petrol between N1,365 and N1,375 per litre.

This development comes as the ripple effect of crude oil prices continues to impact Nigeria’s domestic fuel price.

Brent and West Texas Intermediate crude rose to $114 and $105 per barrel before dropping to $108 and $101 after the filing of this report.

Business

Dangote Refinery Hikes Petrol Price

Published

6 days ago

April 29, 2026

Editor

Dangote Refinery has increased the ex-depot price of petrol by N75.

The refinery announced the increase on Wednesday, hiking the the price from N1,200 to N1,275 per litre.
In the same way, coastal prices have gone up to N1,215 per litre.

This adjustment amid Brent crude trading at $114.80 per barrel marks a 3.15% increase.

DAILY POST reports that Brent crude has increased to $115 per barrel, while West Texas Intermediate rose to $103 per barrel on Wednesday.