Business
Lekki Port hits 50% capacity milestone amid strong cargo growth

By Godwin Oritse
The management of Lekki Deep Seaport has disclosed that the port now operate at close to 50 per cent of its trade capacity, with steady month-on-month growth in container throughput since September, 2025.
This is just as a recentlt released data from Nigeria’s “Trade by Top 10 Posts/Ports of Operation,” between first and third quarter of 2025 revealed that Lekki deep seaport handle an estimated N13.46 trillion in total trade value, combining imports and exports, making it the country’s second-largest port by trade value ahead of Tin Can Island’s N9.31 trillion and Onne Port’s N6.76 trillion.
Speaking yesterday during an end-of-the-year media parley and your of the port with selected maritime journalists, the Managing Director/Chief Executive Officer of Lekki Port LFTZ Enterprise Limited, Mr. Wang Qiang, said the port has reached almost half of its designed operational capacity, reflecting increasing confidence by shipping lines and cargo owners.
He attributed it to the consistent improvement in the number of twenty-foot equivalent units (TEUs) handled monthly.
The trade data released showed that Lekki Deep Seaport recorded N7.39 trillion in imports and N6.07 trillion in exports.
A breakdown of the import quarterly data showed a consistent and accelerating trend as the port recorded N1.70 trillion in Q1, N2.51 trillion in Q2 and N3.18 trillion in Q3. While for export, Lekki port recorded N303.6 billion in Q1, N2.41 trillion in Q2 and N3.36 trillion in Q3.
Qiang stressed that efficient multimodal connectivity remains critical to sustaining and accelerating growth at the port, revealing that barge operations have become an important evacuation channel and currently account for about 10 per cent of cargo movement from the port.
He also noted that the ongoing Lagos–Calabar Coastal Road project would help ease congestion and improve access to the port, but stressed that rail connectivity remains essential, particularly given the scale of industrial activities emerging within the Lekki corridor.
“I believe the train option is something the government is concerned about, and with the level of industrial activities in this region, we expect that it will be provided,” he said.
Commenting on the new tax regime expected to take effect in 2026, he urged the government to adopt a simplified tax framework that supports ease of doing business.
He cited Germany and other countries where goods are cleared from ports with a 30-day window allowed for value added tax (VAT) remittance.
On his part, the Chief Executive Officer of Lekki Freeport Terminal (LFT), Captain Jedrzej Mierzewski also said that after only two years of operations, LFT has already become the number two terminal in the Nigerian market.
“We are the fastest-growing terminal in the country, combining modern infrastructure, operational excellence, and a clear ambition to become a leading transshipment hub for West Africa. Our growth supports the Nigerian economy by strengthening trade connectivity and helping to reduce the cost of foreign trade through efficient, reliable, and competitive port services,” he stated.
The post Lekki Port hits 50% capacity milestone amid strong cargo growth appeared first on Vanguard News.
Business
LPG: FG targets 5m homes for cooking gas transition — Ekpo
•Says Nigeria’s development hinges on gas utilisation
By Ediri Ejoh
The Federal Government has reaffirmed its commitment to expanding gas utilisation, saying it is targeting five million households to transition from firewood, kerosene and other biomass fuels to Liquefied Petroleum Gas (LPG) as part of efforts to cut carbon emissions and improve public health.
Speaking at the 2026 Nigeria Oil and Gas (NOG) Conference and Exhibition, the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, said Nigeria’s economic development depends largely on harnessing its vast gas resources.
According to him, “Nigeria sees gas as its transition fuel. We are not opposed to the global energy transition, but every country must transition based on its available resources. For Nigeria, that resource is natural gas.”
He added, “Gas is essential because its utilisation cuts across power generation, industrialisation, fertiliser production, household energy and transportation. Gas is the solution for Nigeria. That is why Mr. President created the office of the Minister of State for Gas and provided incentives under the Petroleum Industry Act (PIA) to deepen gas utilisation.”
Ekpo said, “In the past, gas was undervalued, but today it has become central to addressing climate change. We are intentionally deploying technologies that reduce carbon emissions through greater gas utilisation.”
He further stated, “Under the Decade of Gas Initiative, we have identified key projects that will bring gas closer to Nigerians. We are targeting about five million homes to switch from firewood, kerosene and biomass to LPG. This will improve household health while reducing carbon emissions. We are driving this because Nigeria has enormous gas reserves.”
Also speaking, the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, said ongoing fiscal and sector reforms have strengthened investor confidence.
He said, “Nigeria is strategically positioned for growth. Investors can be assured that their capital is safe and will generate returns. We are positioning the country for global competitiveness.”
Business
FG suspends enforcement of new internet platform, digital economy regulations
By Progress Godfrey
The Federal Government has suspended the enforcement of new regulations affecting internet platforms, online intermediaries and other cross-cutting digital economy issues pending the completion of a national policy review.
The directive was contained in a statement issued by the Minister of Communications, Innovation and Digital Economy Dr Bosun Tijani, on Tuesday, after a strategic meeting with the leadership of the Nigerian Communications Commission (NCC), National Information Technology Development Agency (NITDA), and Nigeria Data Protection Commission (NDPC).
Tijjani said the decision aimed to maintain the current regulatory position while work continues on a harmonised national policy and governance framework for the digital economy.
He explained that the rapid growth of the digital economy has created overlaps in the responsibilities of sector regulators, making closer coordination necessary to provide legal certainty and support investment, innovation and consumer confidence.
As part of the directive, agencies have been asked to defer the implementation or enforcement of any recently issued regulation, code, guideline, framework, directive or administrative requirement relating to internet platforms, online intermediaries and other cross-cutting digital economy issues that are under policy harmonisation.
Tijani said: “The existing regulatory status quo shall be maintained with respect to matters relating to internet platforms, online intermediaries and other cross-cutting digital economy issues currently undergoing inter-agency policy harmonisation under the Ministry’s coordination.
“Relevant agencies are to defer the implementation or enforcement of any recently issued regulation, code, guideline, framework, directive or administrative requirement relating to Internet platforms, online intermediaries or other cross-cutting digital economy matters, to the extent that such provisions concern areas currently undergoing policy harmonisation under the Ministry’s coordination.
“The above direction is without prejudice to the statutory responsibilities of the respective institutions. Accordingly, all other provisions of existing regulations, guidelines, codes and directives that fall squarely within the express mandates of the relevant agencies under extant laws shall remain fully operational and enforceable, provided they are consistent with the policy direction issued by the Minister.” The minister also announced the establishment of a Joint Technical Coordination Committee comprising representatives of the NCC, NITDA and NDPC under the Office of the Minister.
Business
Dangote Cement targets 20% emissions cut, expands capacity to 80mtpa
By Yinka Kolawole
Dangote Cement Plc has unveiled plans to cut net carbon dioxide (CO‚ ) emissions intensity by 20 per cent while expanding production capacity to 80 million tonnes per annum (mtpa) by 2030, as it pursues its ambition of becoming Africa’s most sustainable and globally competitive cement producer.
Presenting the company’s 2025 Sustainability Scorecard at its 17th Annual General Meeting in Lagos, Chairman, Emmanuel Ikazoboh, said sustainability has become a core business strategy driving growth, competitiveness and long-term value creation across its African operations.
He disclosed that the company has approved a new decarbonisation roadmap, including migrating virtually its entire Nigerian truck fleet to Compressed Natural Gas (CNG) by 2027, excluding the Gboko plant, while electric trucks will be introduced from 2026.
Ikazoboh also said the company is expanding port infrastructure at Apapa, Onne and Lekki to strengthen export capacity, while pursuing investments that will increase installed production capacity to 80mtpa by 2030, including new operations in Botswana and Zimbabwe.
On environmental performance, he said Dangote Cement has reduced CO‚ emissions intensity by 6.5 per cent from its 2021 baseline, cut energy intensity by 1.7 per cent, lowered overall energy consumption by four per cent and reduced water use by eight per cent through increased deployment of alternative fuels, energy-efficient technologies and lower clinker production.
According to him, the company also co-processed over 437,000 tonnes of waste as alternative fuel, reducing dependence on fossil fuels and improving resource efficiency.
Ikazoboh added that Dangote Cement created 625 direct green jobs during the year, increased social investment spending by 56 per cent, raised graduate trainee recruitment by 74 per cent and invested N2.1 billion in employee training.
He said the company also strengthened its ESG framework with new Artificial Intelligence Risk Management, Biodiversity and Disability Inclusion policies, while integrating 297 local vendors into its ESG-focused supply chain programme, positioning it for sustainable growth and supporting Africa’s low-carbon industrial transition.
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