Maritime
NEXIM to create synergy with NEPC
ABUJA – The newly appointed ED/CE of the Nigerian Export Promotion Council (NEPC), Mr. Olusegun Awolowo, paid a courtesy call to the Managing D/CEO of the Nigerian Export-Import Bank (NEXIM) at the Headquarters of the Bank in Abuja, to discuss areas of possible collaboration and synergy.
The visit would be the first of such courtesy calls by Mr. Awolowo since he was appointed to the position by Mr. President last December.
Welcoming his counterpart to the Government Trace Policy Bank, Mr. Orya thanked Mr. Awolowo and his team for taking the initial collaborative step, noting that NEPC and NEXIM Bank were the principal agencies of government responsible for the promotion of non-oil exports
The NEXIM MD provided the NEPC team with a snapshot of NEXIM Bank’s mandate, mission and vision stating that the institution was established by Act 38 of 1991 as an Export Credit Agency with the broad mandate to promoting the diversification of the Nigerian economy away from oil and deepening the external sector.
Mr. Orya stated that upon his resumption in August 2009 as the MD/CEO of the Bank, he discovered that the Bank has completely moved away from its core mandate and veered into lending to both oil and gas resulting in a dismal credit performance and loss of both its Shareholders’ and investors’ confidence. This warranted him to seek the approval of the Bank’s Shareholders to initiate a Corporate Transformation Project (Project Spring) that led to the re-definition of the Bank’s Mission, Vision and Strategic Objectives, with the intention of channelling its resources into the development of four sectors [Manufacturing, Agro – Processing, Solid Minerals & Services]. The MASS sectors were deemed to have high amount of employment and foreign exchange earnings.
An outcome of the Corporate Transformation was crafting of new Strategic Objectives to enable the Bank have a clear market focus and become a major contributor to non-oil exports. This is in addition to turning it into a world class institution which imbibes best-in-class corporate governance and risk management practices towards becoming a relevant player in the export market with the capacity to significantly influence government trade policies.
Mr. Orya further informed Mr. Awolowo that the Bank is developing the ECOWAS and other Africa regional markets as the traditional market for Nigerian exporters. The idea is provide a strong platform for our exporters to venture into the more complex markets of Asia and other developed economies in line with the strategy in other jurisdictions where the EXIM Banks first developed their regional market.
Towards developing the ECOWAS market, NEXIM had earlier launched the ECOWAS Trade Support Facility (ETSF) to reduce the level of informal trade and encourage the small scale exporters to use the banking system to leverage their operations.
Mr. Orya informed his counterpart that NEXIM is facilitating the Sealink Project, which will culminate in the establishment of a shipping company to own and operate ocean-going vessels to boost trade within the West and Central Africa. Accordingly, he invited the NEPC to cooperate with NEXIM in making this project a success hinting that an Investment Memorandum to raise the take-off grant of $60million has been prepared in English and French and the private placement is expected to open before the end of January.
On the outcome of the NEXIM Bank’s transformation initiative, Mr. Orya proudly informed his counterpart, “…we may not have achieved every item of the targets we set in our 5-year strategy plan, but we have completely strengthened our operational processes, instituted the strong pillars of corporate governance, risk management…, turned NEXIM Bank from an obscure, loss-making institution to a highly visible and profit-making institution with a robust balance sheet size….We have consistently made and declared profits for three years in a row now, paying dividends to our Shareholders….That has never happened since the Bank was set up in 1991”
In closing, the MD advised NEPC to review the current provisions regarding the Export Expansion Grant to make it more effective, adding that both NEXIM and NEPC needed to work in close collaboration to boost the current level of non-oil exports which had remained below 4% over the past 5 years.
Thanking Mr. Orya for welcoming his team, Mr. Olusegun Awolowo stated that his choice of making NEXIM Bank his first ‘port of call’ upon resumption was based on what he had keenly observed as NEXIM Bank’s innovative disposition to deepening the non-oil sector and committedly contributing to Mr. President’s Transformation Agenda and Vision 20:2020.
The NEPC ED stated that he has great confidence in the country’s ability to meet her development goals and commended the initiatives of NEXIM in enhancing the level of formal trade, noting that the study conducted by NEPC revealed that informal trade annually was about $12bn, far more than the formal trade valued at $3billion. He promised that NEPC would work closely with NEXIM to improve the level of trade flows and also improve the trade statistics.
Mr. Awolowo assured NEXIM Bank that the NEPC was already working towards reviewing the Export Expansion Grant and that the review will cover the qualification criteria and other aspects. According to him, “… the new strategic focus will place greater emphasis on market development, with Nigerians in diaspora as major targets….” He noted that that Trade Commissioners have been appointed in major countries including China, Brazil and London to help in developing markets for Nigerian products, especially for the benefit of millions of our Diaspora citizens.
Lauding the phenomenal successes of the NEXIM Bank Corporate Transformation initiative, Mr. Awolowo informed the NEXIM boss that NEPC is also working on human resource realignment to drive export growth, adding that the objective of the new management was to increase the level of non-oil exports by at least 30% in the next 4 years.
In closing, the CEO invited NEXIM Bank to collaborate with NEPC for higher synergies and stressed that both organizations have significant roles to play in developing the Nigerian non-oil exports and that his leadership would encourage and foster even closer collaboration between the two institutions towards supporting Mr. President’s Transformation Agenda and achieving Vision 20:2020 .
The Nigerian Maritime Administration and Safety Agency (NIMASA) and the Nigerian Navy have renewed their strategic partnership with the endorsement of a Memorandum of Understanding (MoU) to strengthen maritime security, enhance safety and deepen coordinated enforcement across Nigeria’s maritime domain.
The MoU was signed at the Nigerian Navy Headquarters, Abuja, by the Director General of NIMASA, Dr Dayo Mobereola, and the Chief of the Naval Staff, Vice Admiral Idi Abbas.
The renewed agreement marks a significant milestone in the longstanding relationship between both institutions and represents the first formal renewal of their partnership since the original MoU was signed in 2007.
The agreement provides a framework for enhanced collaboration in the promotion and maintenance of maritime security and the effective implementation of the Suppression of Piracy and Other Maritime Offences (SPOMO) Act, the International Ship and Port Facility Security (ISPS) Code and other relevant maritime laws and regulations within NIMASA’s mandate.
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Speaking at the signing ceremony, the NIMASA Director General, Dr Dayo Mobereola, commended the commitment of the Honourable Minister of Marine and Blue Economy, Adegboyega Oyetola, to strengthening inter-agency collaboration as a key driver of maritime security and the development of Nigeria’s Blue Economy.
He said the renewed MoU would provide a stronger institutional framework for both organisations to discharge their respective statutory mandates while consolidating the gains already recorded in securing Nigeria’s maritime domain. This he said will enhance achieving the goals of President Bola Tinubu GCFR for the Blue Economy.
According to him, the agreement is also designed to address emerging maritime security challenges through improved coordination, information sharing and operational cooperation.
“As we renew this partnership today, I urge our respective teams to ensure that the spirit of this agreement translates into practical and measurable outcomes,” Dr Mobereola said.
Dr Mobereola also expressed appreciation to the Chief of the Naval Staff and the Nigerian Navy for their continued support and commitment to the renewal of the partnership.
In his remarks, the Chief of the Naval Staff, Vice Admiral Idi Abbas, described the signing as a milestone in the enduring relationship between the Nigerian Navy and NIMASA.
He noted that the renewed MoU contained important additions aimed at strengthening the response to the evolving nature of maritime security challenges.
One of the key provisions, he said, is the integration of the Deep Blue Project into the collaborative framework, providing a stronger basis for cooperation between the Nigerian Navy’s Maritime Guard Command and the project.
He also highlighted the introduction of a joint reporting protocol for communication and information sharing during operations, which he said would facilitate timely decision-making and a more coordinated response to maritime incidents.
Vice Admiral Abbas further welcomed provisions for greater institutional engagement, including an annual conference to enhance collaboration, review progress and address emerging challenges.
“Whether we like it or not, the water is where we get whatever we are getting—our revenue, everything and even the trade we engage in, in large percentages, is done through the water. So this institution has to be very strong,” he said.
The renewed MoU is expected to deepen operational cooperation between NIMASA and the Nigerian Navy, particularly in maritime security, information sharing, coordinated responses to maritime incidents, enforcement of applicable maritime laws amongst others.
The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dayo Mobereola, has reaffirmed the Agency’s commitment to advancing regional maritime integration, cooperation and capacity development across Africa.
Mobereola made this known when he received the Honorary Consul of the Republic of Liberia in Lagos, Dapo Akinosun, at the Agency’s headquarters in Lagos.
The NIMASA DG described the meeting as a reflection of the longstanding and mutually beneficial relationship between Nigeria and Liberia, particularly within the maritime sector.
According to him, stronger collaboration among African nations remains critical to unlocking the continent’s maritime potential, strengthening the Blue Economy, and promoting sustainable regional growth of the continent.
On the significance of maritime cooperation, Mobereola said: “The time has come for African nations to upscale maritime collaboration. The partnership between Nigeria and Liberia will help us build capacity, strengthen regional cooperation, and create opportunities for African youths within the global maritime industry.
“We must collectively build maritime capacity beyond borders. Sea-time training and practical exposure will position Nigerian and African youths to compete effectively in the international maritime space.”
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He also appreciated the Liberian Government for supporting Nigeria’s successful bid for the Category C seat of the International Maritime Organization (IMO), noting that both countries have sustained productive maritime relations over the years.
In his address, Akinosun stated that the visit was aimed at reinforcing the enduring relationship between Nigeria and Liberia while promoting stronger maritime cooperation between both countries.
The Envoy described the maritime sector as a key driver of economic growth, regional integration, and Blue Economy development, while commending the management of NIMASA for efforts towards repositioning Nigeria’s maritime industry for sustainable growth and investment.
“Nigeria has demonstrated genuine commitment to maritime partnership and regional growth. Liberia looks forward to deeper collaboration with NIMASA in maritime administration, safety, capacity development, and trade promotion for the advancement of Africa’s Blue Economy,” Akinosun said.
Modupe Asudo
Sahara Group, a leading global energy and infrastructure conglomerate, has commissioned MT Asharami Ghana, a 40,000‑cubic‑metre Liquefied Petroleum Gas (LPG) carrier, expanding its fleet capacity, while strengthening Ghana’s clean energy supply chain and LPG distribution network.
The dual‑fuel vessel improves operational efficiency, enhances supply reliability, and supports lower‑emission LPG logistics as consumption grows across Ghana and the wider sub‑region.
Ghanaian President Mahama and Sahara Executive Directors
Speaking at the commissioning in Ulsan, South Korea, President John Dramani Mahama described the vessel as “a significant milestone in strengthening the infrastructure that underpins the global LPG supply chain,” noting that expanded shipping capacity is critical to improving supply security, reliability and efficiency for countries that rely partly on LPG imports.
He commended Sahara Group, WAGL Energy and all partners involved for their “leadership, technical expertise and strategic foresight,” adding that the project reflects “the power of partnership” in advancing safe, efficient, and responsible energy distribution.
President Mahama wished the MT Asharami Ghana safe sails, expressing confidence that the vessel would inspire further investment and collaboration across Africa’s energy value chain.
According to Wale Ajibade, Executive Director, Sahara Group, the vessel supports Ghana’s clean energy ambitions through integrated infrastructure.
“MT Asharami Ghana is more than a vessel; it is part of a deliberate strategy to strengthen LPG supply security and support Ghana’s clean energy ambitions. It secures an additional 25,000-Metric-tonne stock security for the Ghana economy, alongside the soon to be commissioned 6000-metric-tonee of 12.000-metric-tonne land storage in Tema,” he said.
With the addition of Asharami Ghana, Sahara Group’s LPG carrier fleet now comprises six delivered vessels with a combined capacity of 202,000 cubic metres. Supported by partnerships with WAGL Energy, NNPC Limited and other stakeholders, an additional 270,000 cubic metres of capacity is under construction and due for delivery by September 2028.
Temitope Shonubi, Executive Director, Sahara Group, said Asharami Ghana is part of Sahara’s integrated LPG infrastructure strategy spanning shipping, storage, and downstream distribution globally, including the development of a 12,000‑metric‑tonne land‑based LPG storage terminal in Tema, with a 6,000‑metric‑tonne first phase scheduled for completion in May 2026.
He thanked Yaa Serwaa Alifo, MD of Asharami Ghana, for her resilience and insistence to dedicate a ship of “this magnitude solely to the Ghana Market and its landlocked neighbours.”
Ghana is targeting LPG adoption of 50 per cent of households by 2030, up from about 30 per cent today. Sahara’s investments will support clean energy access for more than 35 million people, while strengthening Ghana’s role in regional LPG trade to neighbouring and landlocked West African markets.
The commissioning comes in Sahara Group’s 30th anniversary year, guided by the Sahara Beyond XXX milestone, underscoring Sahara’s focus on building an enduring enterprise that delivers responsible growth, shared prosperity and long‑term impact across its markets.
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