Category: Economy

Unlocking Nigeria’s $1trn Goal: Inside Shippers’ Council’s Pact with ProvidusUnity Bank

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The Nigerian Shippers’ Council (NSC) has moved to catalyze private sector investments by partnering with financial giants to bridge critical infrastructure deficits and anchor the maritime sector’s contribution to Nigeria’s $1 trillion economic horizon. NSC Executive Secretary and Chief Executive Officer, Dr. Pius Akutah Ukeyima, MON, FCILT, disclosed this at the Council’s headquarters in Lagos during a strategic courtesy visit by the executive management of the newly consolidated ProvidusUnity Bank. Dr. Akutah underscored the Council’s critical mandate as the nation’s Port Economic Regulator, spotlighting its aggressive drive to institutionalize port…

Tsamiya Dry Port: Shippers’ Council, Kebbi Partner to Drive Border Trade

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…Strategic hub set to catalyze regional trade, generate employment, and streamline transit logistics The Nigerian Shippers’ Council (NSC) and the Kebbi State Government have solidified their alliance to develop the Tsamiya Inland Dry Port and Vehicle Transit Park. Driven by the NSC’s core mandate to streamline shipping logistics nationwide, this strategic infrastructure is specifically designed to eliminate trade bottlenecks and remove delays for Shippers. Located in the critical Bagudo local government area bordering Benin Republic, the dual project will serve as a massive economic catalyst. Officials confirm it is uniquely…

FDI Magnet: Akutah Hails Oyetola’s Game-Changing Marine Reforms

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The Executive Secretary and Chief Executive Officer of the Nigerian Shippers’ Council (NSC), Dr Akutah Pius Ukeyima, Esq, MON, FCIL, has lauded the Minister of Marine and Blue Economy, Adegboyega Oyetola, for his unwavering commitment to rebranding the sector into a powerhouse for national economic development. According to Akutah, the Minister’s top reform priority centers on steering the blue economy along a development trajectory that yields immediate, positive impacts on the nation’s wealth. The Shippers’ Council boss disclosed this during a courtesy visit by the League of Maritime Editors (LOME)…

Only 4 Vessels Risk the Strait of Hormuz as US-Iran Clashes Intensify

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The Strait of Hormuz is rapidly turning into a maritime ghost town. Following a fierce exchange of U.S. and Iranian strikes, commercial transits plummeted further on Monday, leaving global supply chains on high alert. Fresh data from Kpler reveals that only four commodity vessels risked the vital chokepoint yesterday—a drop from Sunday’s already subdued count of seven—with the remaining traffic heavily concentrated along Iranian routes. Monday’s skeletal transit schedule was divided into a precise four-way split. Heading out of the chokepoint were two tankers—one laden with petrochemicals and the other…

Governor Bala Mohammed Powers FRSC Campaign for Crash-Free Roads

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In a decisive move to secure transit corridors, Bauchi State Governor Senator Bala Abdulkadir Mohammed has stepped up to power the Federal Road Safety Corps (FRSC) agenda, steering a strategic state-backed campaign to eliminate crashes and deliver safer highways. The Governor sealed the safety pact on Friday at the Government House while welcoming the newly deployed 29th Sector Commander of the Bauchi State FRSC, Corps Commander C.S. Luka. He congratulated the incoming Sector Commander on his appointment and warmly welcomed him to the state. Emphasizing the collaborative nature of the…

Over ₦190m Payout: Shippers’ Council Cooperative Honors Members at 2025 AGM as Court Dismisses Polysonic Lawsuit

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In a strong demonstration of financial growth and commitment to staff welfare, the Nigerian Shippers’ Council (NSC) Staff Multipurpose Cooperative Society Limited is rolling out a massive ₦193 million payout. This milestone includes ₦102.4 million allocated to retirees and ₦90.6 million distributed as 2025 dividends to reward its shareholders. Cooperator Olaolu hiAdeyemi, President of the Cooperative Society, took center stage on Thursday, July 16, during the body’s landmark 30th Annual General Meeting (AGM). Addressing the members, Adeyemi delivered timely insights built around the event’s powerful theme: “Cooperative Society: A Safe…

Tehran Hit, Hormuz Tanker Attacked in US Strikes

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Geopolitical shockwaves hit global shipping as the US fires on a Kharg Island-bound oil tanker in the Strait of Hormuz. Executed alongside unprecedented strikes on Tehran, the attack enforces a tight blockade on Iranian ports. Global maritime and cargo shares are already reeling from the escalating threat to vital trade lanes. Sooth News reported that the US disabled an unladen, 1,100-foot, Curaçao-flagged oil tanker, M/T Belma, while it was transiting toward Iran’s Kharg Island on Thursday. The attack involved firing Hellfire missiles into the vessel’s smokestack following ignored warnings, marking…

US Strikes Iran; Trump Warns Tehran to ‘Better Behave

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“Better behave”: President Donald Trump issued a stark warning to Tehran on Wednesday as the US launched a powerful new wave of military strikes against Iran. Reported by BBC News on Thursday, the US military confirmed it targeted “Iranian military capabilities used to threaten vessels” in the Strait of Hormuz while also firing on a vessel attempting to violate the renewed naval blockade. ” It came after Iran claimed it had struck US military targets in the region, including in Bahrain and Kuwait, as a fifth day of renewed hostilities…

Trump Scraps Hormuz Fee Threat Amid Renewed Iran Port Blockade

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President Donald Trump has dropped his proposal for a 20% toll on Strait of Hormuz shipping, pivoting instead to a direct military blockade of Iranian ports. The swift reversal follows immediate blowback from the global maritime industry, which warned the fees would cripple international supply chains. Global media outlets, including the BBC, reported that the proposed ”toll will be replaced by comprehensive trade and investment deals with Gulf states. This strategic pivot comes just hours before the US is set to resume its naval blockade of Iranian ports. It follows…

18th Soyinka Lecture: Prof. Umaru Pate Demands Democratic Action to Fix Nigeria’s Social Crises

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The hall of Providence Hotel in Ikeja was filled to capacity as guests gathered to honor the 20th anniversary of the Wole Soyinka Centre for Investigative Journalism (WSCIJ) and its 18th Annual Media Lecture Sheries. This year’s landmark event also featured the public presentation of the 2025 Journalism and Civic Space Status Report. Sooth News, reported from the ground on 13 July 2026, noted that the lecture was themed “Beyond the Ballot: Measuring Democracy Through Security, Welfare, Accountability, and Public Trust.” The keynote address was delivered by Professor Umaru Alhaji…