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France collaborate to develop inland dry port

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The French Government has agreed to collaborate with the Federal Government to develop inland dry ports in the country.

Mr Hassan Bello, Executive Secretary/Chief Executive Officer, Nigerian Shippers’ Council (NSC), disclosed this during a collaborative meeting between the duo and investors delegation on Thursday in Abuja.

The News Agency of Nigeria (NAN) reports that the thrust of the meeting was the development of inland dry ports, rail transportation infrastructure, export and import promotion and development between both countries.

Bello explained that after due study,  five locations were chosen by the Federal Government for the construction of a dry port and they were, Funtua, Kano, Ibadan, Plateau and Isiala Ngwa in Abia.

According to him, the dry port at Funtua is already 68 per cent completed and with efforts by the Nigerian Railway Corporation (NRC)  it can  be ready for operations in October or November.

He noted that reasonable progress had also been made in the other various ports, adding that the critical issue was that the projects were concessioned  to the private sector.

“The Federal Government thinks that in order to bring shipping closer to the people there should be ports.

“The guidelines for the policy is that dry port will decongest the sea port,  it will make things easier for everybody, secondly we have to galvanise export.

“Nigeria cannot be import dependent country for a long time,  we need to export to earn all the foreign currency.  It is intended that the dry port will be centred for export.

“In which case we are going to bring standards. Pre-export inspectors so that once you are exporting, it is certified,  everything is sealed and taken by rail mostly to the ship that is waiting and off it goes.

“What it does is that you are spreading the economy and giving exporters access to the ports. We are calling for government to declare the dry port as centres for exports so everything will be there.

“There will also be free zones, so most of the taxes will be lessened. We want to make these ports very comprehensive, we have to add value, we must have the compliment of the cold storage as to really cure these post-harvest losses.

“The most important thing is that we need to enhance and open the ports for local and international investments,’’ Bello said.

On railway, the NSC boss, said rail capacity was key to the success of the dry ports, adding that to earn the confidence of investors, we should have scheduled railway services.

He noted that some countries had indicated interests to invest, therefore, it was important to get things right.

According to him, the idea is not just to have a port, but to have a modern/electronic port that is in accordance and compliance with the ISPS code and of international standard.

He thanked the Managing Director, NRC, Fidet Okhiria, for accepting to ensure availability of land for investors to create additional values.

He,  however,  urged him to take a critical independent survey of all the ports and lay it before the Federal Government so that rail shouldn’t be a cause for delay of the port.

He also appealed that the ports shouldn’t be allowed to be congested like the Apapa ports, goods be cleared 24 hours,  no demurrage or rent seeking and the ports must relate to the economy and the community.

Representing the French government, its Regional Agriculture Counsellor, Dr Sonia Darracq, expressed readiness of its government to collaborate with Nigeria.

While reiterating the importance of the dry port, Darracq, said it would amongst other things,  boost the agricultural sector of the country, as it would curb post-harvest losses of food products.

“I am in contact with some French companies that will be interested in partnering in the development of the dry port be it for food or other things.

“And I brought in some documentation for companies that also cover the cold chain sector and they will  be very much willing to know better about your policy in terms of dry-port development in order to investigate some ways of cooperation.

“I am here to understand better,  what the government and  private sector plan in developing the dry port sector and all other infrastructure.

“I am mostly concerned with the transportation of our food but I’m also very keen to know the strategy of development of the highway,  the roads.

“I came here specifically at the request of the number one in France in the cold chain.  This is a group of French companies which deals in cold chain for more than 50 years.

“They have a vast experience,  they are private companies and are very much willing to start business discussions with you.

“I am a government person and the French government is very much willing to assist in the form of some financial tools we can activate for the beginning.

“We want to be part of the transformation of all or few environmentally friendly energy sources for all activities including the cold chain transportation and everything.

“To that we can  easily activate not only the French financial assistance but also the European Union.

“ I will write a  report that I will share with my ambassador but also with the EU representatives here because I think this is  for us,  a golden opportunity to work together and to be part of this development that is critical for the country,’’she added.

The Managing Director, NRC in his remark, reiterated the importance of rail in industrialisation and development.

Okhiria reiterated efforts of President Muhammadu Buhari’s administration to link the country through rail, stating that work was on going to revitalise/construct the narrow and standard gauge lines in the country.

He said :“ the Federal Government has taken the bull by the horns to develop the infrastructure and the dry ports now have rail tracks to move products.

“If we succeed in linking the rails, we will not only reduce congestion but encourage people to use other ports and boost the economy in the long run.

“I pray the government continues to have the will to develop the sector as it is not a cheap project.’’ (NAN)

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Business & Economy

FG Dismisses Reports of New Telecoms and Fuel Taxes, Says No Such Plans Under Consideration

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President Bola Ahmed Tinubu
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The Federal Government has dismissed reports claiming that it has introduced or is planning to introduce new taxes on telecommunications services and petroleum products.

The clarification came following media reports based on the recent International Monetary Fund (IMF) Article IV Consultation Report on Nigeria. The reports suggested that the IMF recommended extending Value Added Tax (VAT) to fuel products and introducing excise duties on telecommunications services as part of efforts to boost government revenue and fund development projects and social programmes.

However, in a statement issued on Wednesday by the Head of Information and Public Relations Unit of the Federal Ministry of Finance, Efe Ovuakporie, the government said the reports were misleading and did not reflect its current policy position.

According to the ministry, the IMF report merely contains the Fund’s assessment of Nigeria’s economy and recommendations for consideration by government authorities. It stressed that such recommendations are not binding and do not automatically become government policy.

The statement explained that all decisions relating to taxation in Nigeria are made through established constitutional and legislative processes and are guided by the country’s economic priorities and prevailing realities.

The Federal Government also clarified that the existing VAT waiver on petroleum products remains in force and has not been withdrawn.

It further explained that although current legislation provides for a fuel surcharge, such a charge can only be implemented through a ministerial order and official publication in the government gazette. The ministry stated that no such process is currently being considered.

According to the government, the continued suspension of these charges has helped reduce the impact of fluctuations in global energy prices on households and businesses while keeping domestic fuel prices relatively stable.

On telecommunications services, the government noted that the excise duty introduced before 2023 has already been repealed under the new tax laws and is no longer applicable.

The ministry therefore urged Nigerians to disregard reports suggesting that fresh taxes are being planned for either the telecommunications or petroleum sectors, describing such claims as inaccurate.

The government reiterated its commitment to economic reforms aimed at promoting growth, improving revenue collection, and creating a more attractive environment for investment and job creation.

It added that its focus remains on expanding economic activities, blocking revenue leakages, and improving efficiency in public finance management rather than imposing additional tax burdens on citizens.

The statement assured Nigerians that any future tax measures, if necessary, would be officially announced through appropriate government channels and implemented strictly in accordance with the law.

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NERC Orders DisCos to Compensate Band A Customers for Power Supply Shortfalls

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The Nigerian Electricity Regulatory Commission (NERC) has directed electricity distribution companies (DisCos) to compensate eligible Band A customers affected by power supply shortfalls recorded between February and March 2026.

In a public notice issued on Wednesday, the commission said the special compensation scheme became necessary following significant electricity generation deficits across the Nigerian Electricity Supply Industry (NESI), which prevented some DisCos from meeting the minimum service commitments required for Band A customers.

According to NERC, the supply disruptions were largely caused by inadequate gas supply as well as vandalism of critical gas and transmission infrastructure, factors beyond the direct control of the distribution companies.

The regulator explained that Band A customers are entitled to a minimum of 20 hours of electricity supply daily. It noted that where a Band A feeder recorded an average daily supply of between 18 and 20 hours during the affected period, the existing compensation framework under Addendum No. NERC/2024/003 would continue to apply to both Maximum Demand (MD) and Non-Maximum Demand (Non-MD) customers.

However, NERC stated that Band A feeders that received less than 18 hours of electricity supply per day between February and March 2026 would not be downgraded despite failing to meet the service threshold. Instead, customers connected to such feeders would receive special compensation.

Under the approved arrangement, Non-MD customers will receive compensation equivalent to 20 percent of the approved February 2026 energy cap applicable to their feeder. MD customers, on the other hand, will receive compensation equivalent to 20 percent of the average energy billed per MD customer in February 2026.

The commission further directed that prepaid customers should receive their compensation through electricity token credits, while postpaid customers should benefit through direct bill adjustments.

To ensure transparency, NERC instructed DisCos to clearly communicate the value and period of the compensation to affected customers. The regulator also prohibited distribution companies from using the compensation credits to offset any existing customer debts.

Reaffirming its commitment to consumer protection, NERC said it would closely monitor the implementation of the directive and verify compliance across all distribution companies to ensure that eligible customers receive the compensation due to them.

The commission added that the measure is aimed at safeguarding consumer interests while maintaining the stability and sustainability of Nigeria’s electricity market.

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Nigeria, UK Move to Close £1.2bn Trade Data Gap with Digital Customs Pact

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UK and Nigeria Flags
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Nigeria and the United Kingdom have agreed to deepen customs cooperation through a new digital data-sharing framework aimed at resolving a £1.2 billion discrepancy in bilateral trade figures, a longstanding issue affecting transparency and efficiency between both economies.

The agreement was reached during a high-level meeting in London on March 18, 2026, held on the sidelines of President Bola Tinubu’s state visit under the Nigeria–UK Enhanced Trade and Investment Partnership (ETIP).

According to the Nigeria Customs Service (NCS), the talks brought together Comptroller-General Adewale Adeniyi and Ms. Megan Shaw, Head of International Customs and Border Engagement at His Majesty’s Revenue and Customs (HMRC), with discussions focused on customs modernisation, trade data transparency, and operational collaboration.

At the centre of the engagement is a significant mismatch in trade statistics. Nigeria recorded about £504 million worth of imports from the UK in 2024, while UK data shows exports to Nigeria at approximately £1.7 billion over the same period — leaving a gap of roughly £1.2 billion.

Both sides described the discrepancy as structural and agreed on coordinated measures to address it. Chief among these is the proposed implementation of a pre-arrival data exchange system, which will connect digital customs platforms in both countries to improve data accuracy, strengthen risk management, and enhance compliance monitoring.

Adeniyi emphasised that stronger customs collaboration is vital for economic growth and sustainable trade, noting that customs authorities play a key role in ensuring secure and transparent cross-border trade flows.

The meeting also highlighted advancements in customs technology, with the UK showcasing artificial intelligence-driven tools, digital verification systems, and real-time analytics designed to improve cargo processing, risk assessment, and border security.

In addition to addressing the data gap, both countries agreed on several strategic initiatives, including the development of a Customs Mutual Administrative Assistance Framework, technical cooperation on capacity building, and the establishment of a joint engagement mechanism under ETIP.

The NCS said the outcomes of the meeting would enhance operational efficiency, boost trade facilitation, and support Nigeria’s broader economic reform agenda, positioning the country for improved competitiveness in global trade.

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