Business

First Direct Ship From China Arrives Lagos PTML In 27 Days

Published

1 year ago

February 16, 2025

Editor

PTML Terminal, the largest multipurpose terminal in West Africa, recently made history with the arrival of the MV Great Cotonou, the first Con-Ro (Container-Roll-on/Roll-off) vessel, which reached Lagos from Shanghai in a record 27 days.

In a statement over the weekend, PTML stated that this milestone marks a significant advancement in maritime trade between China and Nigeria, reducing transit times and enhancing logistics efficiency.

Owned by global shipping giant Grimaldi Group, which also operates PTML Terminal, the MV Great Cotonou is set to transform regional trade by offering the fastest transit time on this route—just 27 days.

Unlike other shipping services that require transshipment at intermediary ports, this direct service ensures faster and more reliable delivery for Nigerian importers, eliminating delays and additional handling costs.

With this innovative service, Nigerian businesses can now receive not only containerized cargo but also vehicles—including cars, vans, trucks, and project cargo—all on the same vessel.

This unique multimodal transport solution presents a substantial logistical advantage, streamlining supply chains and reducing overall costs for importers.

PTML Terminal is well-equipped to handle this new service, boasting state-of-the-art facilities, easy port access, and a dedicated workforce to ensure seamless operations.

The terminal’s highly efficient cargo-handling capabilities will further enhance the benefits of this direct shipping route.

The vessel’s arrival was commemorated with a high-profile welcoming event attended by key figures in the maritime industry. Among those present were Andrea Grimaldi, representing the Grimaldi family, alongside Giampaolo Vitale, Line Manager, and Salvatore Califano, Director of Grimaldi. PTML’s Managing Director, Ascanio Russo, also attended the event, emphasizing the significance of this milestone.

Speaking at the event, Russo stated: “The arrival of the Great Cotonou at PTML represents a pivotal moment for Nigerian importers.

“This service will significantly reduce transit times and logistics costs while offering unmatched convenience by accommodating various types of cargo in a single shipment.”

“We have the infrastructure, the expertise, and the human capital, and we will offer great service to our importers and exporters.

“The arrival of this ship and this new service will definitely create many more opportunities for our terminal, workers, host community, and Nigeria as a whole.

“This is the largest container-RoRo ship coming to Africa, and we have upgraded our facilities to receive this kind of vessel.

“We have recently acquired a massive mobile harbor crane costing more than USD 10 million. Additionally, we had to upgrade our infrastructure, including the quayside, with an investment exceeding USD 5 million just to accommodate these ships,” Russo said.

Also speaking, Andrea Grimaldi said, “Our goal is to create a fast and efficient trade link between Shanghai and West Africa, particularly Lagos.

“The Great Cotonou offers a direct connection with a rapid 27-day transit. We are starting with Shanghai, but as demand grows, we plan to expand our coverage to other Chinese ports and beyond.”

With this groundbreaking development, Nigerian businesses and logistics operators now have access to a faster, more efficient, and cost-effective trade link with China

Rhe direct Shanghai-to-Lagos route reinforces Lagos as a key hub in global maritime logistics, strengthening Nigeria’s position as a leading player in West African trade.

As PTML Terminal continues to expand its service offerings, the launch of this direct shipping route stands as a testament to its commitment to enhancing trade, boosting economic growth, and providing world-class logistics solutions in Nigeria.

Business

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

Published

1 day 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

7 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.