The Nation Newspaper

Category: Business

  • Telecom operators’ opex rises 85%to N5.85tr

    Telecom operators’ opex rises 85%to N5.85tr

    Nigeria’s mobile network operators (MNOs) total operating expenditure (opex) rose from N3.16 trillion  in 2023 to N5.85 trillion in 2024 marking a significant increase of 85 per cent.

    This was contained in data compiled by Nigerian Communications Commission (NCC).

    Operating cost in a business refers to the expenses incurred in the day-to-day functioning and maintenance of the business operations.

    It includes both the cost of goods sold (COGS), which are direct costs related to producing goods or services (such as materials, labor, and manufacturing expenses), and opex, which are indirect costs necessary for running the business, like rent, utilities, salaries for non-production staff, marketing, insurance, and administrative expenses.

    According to the 2024 Subscriber/Network Performance Report compiled by the Policy, Competition and Economic Analysis Department of the NCC, most licensees of the regulator complained of high Right of Way (RoW) fees, harsh micro economic operating employment and rising inflation.

    However, the NCC has been able to secure zero RoW fees in some states in year 2024., the report added.

    “Operating cost: Five Trillion, Eight Hundred and Fifty-Four Billion, Two Hundred and Fifty-Seven Million, Four Hundred and Fifty-One Thousand, Two Hundred and Twenty-Five Naira, Seventy-One Kobo (N5,854,257,451,225.71) is the total operating cost collated in year 2024 which increased by 85% Year on Year from the Three Trillion One Hundred and Fifty Eight Billion Four Hundred and Three Million Seven Hundred and Sixty Seven Thousand Three Hundred and Twenty Eight Naira Forty Eight Kobo (N3,158,403,767,328.48),” the report noted.

    For capital expenditure (capex)/ domestic investment, the report showed about N2.9trillion in 2024 as against N1.12trillion invested the previous year

    Read Also: Okpebholo takes EU ambassadors to monarch

    “The Year-on-Year (2023/2024) comparison indicates a 159.03per cent increase in CAPEX expenditure in the industry. The Unification of Exchange (Parallel Market and CBN rates) rates of Naira to Dollar as well as inflation impacted on the value of Naira spent upgrading network facilities in the industry. Most of these network equipment are not manufactured locally but imported into the country,” the report noted.

    On the revenue side, the MNOs posted about N7.67trillion during the period under review against N5.3trillion the previous year. This showed an increase of 44.70per cent.

    On capital inflow or Foreign Direct Investment (FDI) into the Nigerian telecoms industry, the report noted that it was approximately $457million in 2024 as against $134.75million recorded in 2023, according to the Central Bank of Nigeria (CBN).

    In the area of contribution to the Gross Domestic Product (GDP), the telecoms industry contribution to the economy increased from 14.00per cent in the fourth quarter (Q4), 2023 to 14.40per cent in Q4, 2024 indicating a 2.86per cent growth year-on-year. “The Rebasing of the GDP is ongoing by the National Bureau of Statistics (NBS) to extract optimally the contribution of the Digital Economy from the Information and Communication Sector,” the report noted.

  • ‘Deploy off-grid power to close electricty gap’

    ‘Deploy off-grid power to close electricty gap’

    CEO of Okra Solar, Afnan Hannan, has identified the deployment of off-grid power solutions as a way to close the yawning power deficit in the country estimated at over 90 million citizens lacking electricity access – the world’s largest off-grid population.

    Hannan who spoke during the unveiling of Mesh-grid Beyond, a suite of new hardware that delivers on three critical promises to energy developers: power communities further from the grid than ever before, said the innovation deploy projects faster than traditional approaches allow, and reaches everyone, from the productive to the lowest-consuming households – profitably.

     “Our mission has always been to unlock opportunities through energy access. Mesh-grid Beyond gives Nigerian developers the tools to scale faster, hit productive use, and electrify communities that were previously out of reach,” Hannan said.

    Read Also: Okpebholo takes EU ambassadors to monarch

    The announcement comes at a pivotal moment for Nigeria’s electrification efforts. With 90 million citizens lacking electricity access – the world’s largest off-grid population, the country also offers developers unprecedented opportunity through progressive regulations and the ambitious Distributed Access through Renewable Energy Scale-up (DARES) program. The challenge, Okra Mesh said, has been execution: how to serve remote communities with no mobile coverage, connect low-income households profitably, and do it all fast enough to meet aggressive expansion targets.

    “The company explained that Mesh-grid Beyond answers all three challenges with an integrated solution that changes the fundamental economics of rural electrification revolving around three new products: Sprout, Leaf and OkraNet. These products upgrade Okra’s existing mesh-grid: a solution electrifies communities in a Hub and Spoke approach, giving high quality service tailored to the needs of businesses and households, at lower cost and with faster deployment than traditional mini-grids.

    “Sprout puts productive users at the center of mesh-grid design as Hubs. Configurable with up to 2.4kW AC output, Sprout units reach 99per cent of the productive use in a typical community and anchor the mesh-grid around businesses that drive economic growth. It’s an integrated design that arrives to the field pre-configured and pre-wired, saving hours per installation, while housing electrical components in a sleek enclosure that also deters power theft.

    “Leaf rewrites the economics of rural electrification by enabling a revolutionary price point of under $100 per connection for the majority of households. With mini-grids, over 80per cent of users are considered unprofitable to serve, because their consumption is so low. Leaf addresses exactly these households. It creates household Spokes that take excess power from Hubs, with a meter that leverages OkraNet technology and provides 150W AC power for the majority of household usage, such as phone charging and lights. Even households consuming less than 5kWh per month become profitable, opening up more communities to become commercially viable with attractive payback periods that satisfy both social impact goals and investor returns,” the company said.

    OkraNet, the company said, liberates energy developers from depending on cell coverage, adding that using advanced networking technology, OkraNet allows data to ‘hop’ between households to a central gateway that can be connected to satellite internet or 3G/4G, meaning any community can be energised and handle reliable billing, remote monitoring and automated maintenance. If you can physically reach a community, you can now power it.

    The true magic happens when these products work together. Consider a typical last-mile community, embodying every challenge: remote location with no mobile signal, a few productive users surrounded by predominantly low-income households using minimal electricity, and a grant program requiring commissioning within 12 months, not years. Previously, this community would be written off as impossible. With Mesh-grid Beyond, it becomes a standard, profitable project.

    “Okra’s new products are game-changing. People in Burum have loved having it in their homes, and in the next year we’re going to be using them to deploy faster, reaching more communities, and I’m confident that we can maintain profitability,” CEO of First Electric, Daniel Komolafe, said.

    The suite represents a fundamental shift in the industry: from carefully selecting profitable customers to achieving profitable universal access. Every developer can now embrace the full mission of electrification without compromising financial sustainability.

    With Nigeria’s universal access goals and Mission 300 targeting electricity for all by 2030, the window for action is narrowing. Developers and financiers are scrambling to get into the DARES program, which is supercharging the industry’s efforts.

    “Mesh-grid Beyond arrives precisely when developers need it most: delivering proven technology with superior reliability and twice the deployment speed of mini-grids. Mesh-grid Beyond cuts the grant requirement in half compared to mini-grids, giving the Nigerian government more connections and reach for less funding, and it’s the first off-grid technology that demonstrates a pathway to full grant independence.

    “Nigerian electricity distribution companies (DisCos) can begin deploying mesh-grids with the Beyond suite immediately. The complete solution is field-tested, DARES-compliant, and ready for scale. Okra Solar provides comprehensive support including training, project planning assistance, and dedicated technical backing for large deployments.

    “Energy developers looking to deploy as fast as possible under the DARES program or those simply bold enough to connect more of the hardest to reach households with reliable, renewable energy access can learn more and contact our team at www.okrasolar.com,” the company added.

  • Firms invests $250,000 on clean energy for SMEs

    Firms invests $250,000 on clean energy for SMEs

    All On, an impact investment company committed to increasing energy access for Nigeria’s underserved and off-grid communities, has announced a follow-on investment of$250,000 in ICE Solar Commercial Power Limited (“ICE Solar”), a fast-growing provider of Energy-as-a-Service solutions for Small and Medium Enterprises (SMEs) across Nigeria.

    This second round of funding builds on All On’s initial investment in 2021 and reflects the company’s continued confidence in ICE Solar’s scalable business model and impact-driven approach.

    The new capital will be used to expand ICE Solar’s deployment of intelligent solar and battery systems, enabling thousands of SMEs to transition from costly, polluting petrol generators to clean, reliable energy alternatives.

    According to a 2021 SMEDAN MSME survey, Nigeria’s SME sector represents 96.9 per cent  of all businesses, contributes 87.9 per cent  of employment, and accounts for 46.3per cent  of GDP, yet many still face challenges with unreliable power supply, which hampers productivity and increases operational costs. ICE Solar’s Energy-as-a-Service model offers a sustainable solution by providing affordable, pay-as-you-go solar energy tailored to the needs of small businesses. The company’s technology-driven approach ensures efficient energy management, remote monitoring, and flexible payment options—making clean energy more accessible to entrepreneurs across the country.

    Speaking at the signing ceremony, Chief Executive,All On, Caroline Eboumbou, said, “This follow-on investment in ICE Solar reflects our commitment to supporting indigenous companies that are delivering scalable clean energy solutions to underserved markets. We believe that SMEs are the backbone of Nigeria’s economy, and access to reliable energy is critical to their growth and resilience. ICE Solar’s innovative model contributes meaningfully to job creation, economic inclusion, and the broader energy transition.”

    Read Also: Okpebholo takes EU ambassadors to monarch

    Founder , Chief Executive, ICE Solar, Dr Emmanuel Ekwueme,   added, “We’re thrilled to welcome All On’s continued partnership and investment in ICE Solar.  This support reinforces our shared vision to accelerate clean, reliable energy access across Nigeria.  With this new capital, we’re scaling our intelligent solar and battery solutions to help over 2,000 SMEs cut energy costs, displace thousands of petrol generators, and transition toward a low-carbon future.  This partnership marks an important milestone not just for ICE Solar’s growth, but for the broader renewable energy ecosystem driving Nigeria’s economic transformation.”

    This investment strengthens All On’s portfolio of high-impact energy ventures and underscores its long-term strategy to catalyze inclusive growth through sustainable energy. By empowering SMEs with reliable power, the partnership between All On and ICE Solar is helping unlock economic potential, create jobs, and accelerate Nigeria’s transition to a low-carbon future.

  • Emadeb strikes first oil from Ibom field

    Emadeb strikes first oil from Ibom field

    Emadeb Petroleum Exploration & Production Company Limited (Emadeb E&P) has announced the achievement of first oil from the Ibom Field (PPL 236), marking another milestone in Nigeria’s upstream oil and gas industry.

    This was contained in the press statement it’s management issued yesterday.

    According to the statement, following  sustained investment, technical rigour and collaborative effort, the company has commenced commercial production from Ibom Field.

    The statement noted that the  achievement underscores Emadeb E&P’s emergence as a fully integrated energy player and highlights the pivotal role of indigenous operators in advancing Nigeria’s energy security and economic diversification.

    It further noted that it also

    aligns with the Federal Government of Nigeria’s vision and aspiration to increase the nation’s crude oil production.

    The Ibom field is located approximately 30 kilometres offshore, Ibom Field was originally discovered in 1979.

    The field boasts significant in place volume of 103 million barrels of oil.

    Read Also: Okpebholo takes EU ambassadors to monarch

    The management said since  the acquisition in the 2020 Marginal Field Bid Round, Emadeb E&P has invested over $100 million in a phased field development programme. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) approved the Ibom Field Development Plan (FDP) in November 2024.

    The statement noted that some of the key technical milestones are the successful drilling and completion of the Ibom-03 well in September 2023.

    ● Integration of a Mobile Producing Offshore Unit (MOPU) completed in June 2025.

    It also said commissioning of the Ibom Field Mooring System in September 2025 and First oil achieved in October 2025 are some of the feats.

    The statement said the company has demonstrated indigenous capacity and strategic partnership.

    According to its Chief Executive Officer, Adebowale Olujimi, *This milestone reflects our deep commitment to unlocking Nigeria’s hydrocarbon potential through homegrown expertise, strong partnerships, and disciplined investment.”

    Olujimi  declared: “We are proud to contribute to Nigeria’s energy goals, foster local content, create jobs, and deliver sustainable value.”

    The Ibom Field development showcases effective collaboration between the private sector and government institutions and stands as a model for marginal field commercialisation and indigenous capacity development in the upstream sector.

    He also said the Ibom Field stands as a testament to what is achievable when strategic intent meets execution excellence.

    Looking ahead, he said Emadeb E&P is now preparing for Phase 2 development to drill two additional wells that will triple production by Q4 2026. The company remains focused on operational excellence, environmental stewardship, safety, and community engagement.

  • Dangote Cement tops tax compliance chart

    Dangote Cement tops tax compliance chart

    For the second year consecutively, leading Africa Cement manufacturer, Dangote Cement Plc has been named as the most tax-paying compliant organization in Nigeria in 2025 by the tax authority, Federal Inland Revenue Services (FIRS).

    The award was bestowed on Dangote Cement during the FIRS Special Day at the 2025 Lagos International Trade Fair held at the Tafawa Balewa Square, Lagos.

     While honouring the company with an award in the large taxpayer group, FIRS said Dangote Cement earned the recognition as one of the most compliant organisations in the country following a rigorous selection process undertaken by FIRS in collaboration with tax controllers across various jurisdictions.

    Accepting the recognition award, Dangote Cement Group Head, Tax and Compliance, Mojisola Ogunlade who led the Dangote Group team, said the award reinforces the company’s long-standing commitment to transparency, accountability, and timely tax compliance.

    She expressed gratitude to FIRS for the recognition, noting that the award reflects the company’s commitment to supporting Nigeria’s development through responsible tax practices.

    Ogunlade stated; “This recognition is a testament to our dedication to meeting all compliance obligations and contributing to national growth,” the representative stated. “We remain committed to strengthening our partnership with the FIRS and aligning with the standards that support a transparent and efficient tax system.”

    Read Also: Okpebholo takes EU ambassadors to monarch

    According to her, the recognition by FIRS of organizations that are contributing to the revenue base of the country through responsible tax compliance is a collaboration that would further improve the private organisations’ commitment to performance of civic responsibility to the state and motivate others to do same.

    She explained that Dangote industries Limited (DIL) has been living up to expectation and so it subsidiaries could not have done less recalling that the Group had paid over N402billion in taxes in 2024 to the government making it the highest taxpayer in the country.

    Justifying the recognition, the Dangote Tax Compliance Head pointed out that Dangote Group has achieved full compliance by implementing world-class processes that align with tax laws and regulations.

    “These measures emphasize strict adherence to statutory timelines and aim to eliminate the costs associated with non-compliance.

    “The Dangote brand is always committed to fostering a culture of tax compliance. This reflects our corporate responsibility to support government efforts in providing essential public goods and services for citizens.

    “For Dangote Cement, the recognition serves as further motivation to sustain its leadership in corporate governance and its contribution to Nigeria’s economic progress”, Ogunlade concluded.

    Earlier in her remarks, Dr. Lovette Onanuga, Director of the Taxpayers Service Department FIRS, highlighted the significance of this year’s recognition ceremony, describing it as a moment designed to honour organisations whose consistency and cooperation continue to drive the nation’s revenue goals.

    She noted that the FIRS relied on inputs from tax controllers to identify outstanding taxpayers, adding that compliance, timeliness, and professionalism were key criteria.

    According to her, “Your partnership as taxpayers is essential to helping FIRS fulfil its mandate as the government agency responsible for tax collection and remittance. That is why we deemed it important to recognise your commitment in this special way.”

  • New equity fund to accelerate indigenous energy investments

    New equity fund to accelerate indigenous energy investments

    The Nigerian Content Development and Monitoring Board (NCDMB) has said the board will introduce a Nigerian Content Equity Fund (NCEF), a new financing window designed to provide long-term risk capital for high-impact indigenous companies.

    The announcement came as the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, hailed Tamrose Limited for transforming a $10 million Nigerian Content Intervention Fund (NCIF) facility into a continent-wide growth success.

    Speaking at the Nigerian Content Tower in Yenagoa, Bayelsa State, Lokpobiri said Tamrose’s evolution—from four vessels in 2019 to a fleet of 15 by 2025, alongside full repayment of its NCIF loan—demonstrates the catalytic value of the Board’s $350 million fund. He described the achievement as a testament to what disciplined public–private collaboration can deliver, warning that beneficiaries who fail to meet their repayment obligations would face legal action.

    Reaffirming government support for indigenous capacity development, the minister said strengthening the Fund remains a priority to enable more Nigerian companies scale operations across the oil and gas value chain.

    Executive Secretary of NCDMB, Engr. Felix Omatsola Ogbe—represented by the General Manager, Human Capacity Development, Esueme Dan Kikile—said Tamrose’s trajectory aligns with the vision of the NOGICD Act of 2010, which aims to place Nigerians “at the centre of value creation.” He noted that well-structured processes and strong partnerships have enabled the Board to drive measurable industry impact.

    Read Also: Okpebholo takes EU ambassadors to monarch

    Ogbe disclosed that the NCEF will be formally launched at the 2025 Practical Nigerian Content Forum, adding that the new fund will support strategic and emerging sectors that require patient capital to grow.

    Tamrose’s Executive Chairman, Ambrose Ovbiebo, recounted the company’s rise from a modest team and four small vessels to a respected marine logistics provider serving top-tier international and local oil companies.

    He credited the NCIF as a “foundational catalyst” that expanded the company’s fleet, boosted its workforce from 50 to 244 people, trained over 100 cadets, and delivered healthcare support to more than 1,500 beneficiaries.

    Ovbiebo expressed appreciation to clients including ExxonMobil, SEPLAT Energy, TotalEnergies, Chevron, First E&P, NLNG, and Oriental Energy, as well as financial partners such as Union Bank, Keystone Bank, Fidelity Bank, Afreximbank, and the Bank of Industry (BOI).

    BOI’s Divisional Head, Extractive and Natural Resources, Taiye Emagha, praised Tamrose’s exemplary repayment record, describing the firm as every lender’s ideal customer. NIMASA’s Director General, Dayo Mobereola—represented by Jibril Abba—also commended the company for maintaining a fully Nigerian-flagged fleet and delivering consistent operational excellence.

  • ‘60 per cent of power plants not available for dispatch’

    ‘60 per cent of power plants not available for dispatch’

    Nigerian Electricity Regulatory Commission (NERC) has said in October 2025, 60 per cent of the generation plants were not available for dispatch.

    The October 2025 Operational Performance Factsheet, which made this disclosure yesterday, added that out of the 13,625 MW available in the Nigerian Electricity Supply Industry (NESI), only 5,506MW, representing 40 per cent was available for dispatch in the period under review.

    The factsheet, which provided key insights into the performance of grid-connected power plants across Nigeria, said in October the industry recorded 78 per cent Average Load Factor (ALF).

     The ALF was 4,290MW/h out of the installed capacity.

    Plant Availability Factor (PAF): 40per cent — an average of 5,506 MW was available for dispatch out of 13,625 MW installed capacity.

    Read Also: Okpebholo takes EU ambassadors to monarch

    Average Load Factor: 78% — indicating that 4,290 MWh/h of available generation capacity was utilised,” said NERC. According to the document, top Energy Producers: Egbin, Delta, Kainji, and Zungeru plants led generation performance, contributing significantly to total energy output.

    The top 10 largest energy producers that accounted for 80 per cent of the total energy generated in the month under review, only Zungeru operated at its full capacity.

    It produced 700mMW / 700MW in October.

    Egbin generated 656MW out of 1,320MW, representing 50 per cent of its installed capacity.

    Kainji hydro power plants generated  572MW out of 760MW, representing 95 per cent of its capacity.

    In October, Delta 1, which has 900MW produced 760MW, representing 75 per cent of its capacity.

  • CRFFN, CIB sign MoU to deepen transparency in freight forwarding

    CRFFN, CIB sign MoU to deepen transparency in freight forwarding

    The Council for the Regulation of Freight Forwarding in Nigeria (CRFFN) and the Convention on Business Integrity (CIB) has signed a Memorandum of Understanding (MoU) aimed at promoting transparency, reducing unreceipted charges, and improving efficiency across Nigeria’s ports and logistics corridors.

    The event, held at Providence by Mantis Hotel, Ikeja, Lagos, brought together industry stakeholders, development partners and representatives of the Maritime Anti-Corruption Network (MACN).

    CRFFN Registrar and Chief Executive Officer, Igwe Kingsley Onyekechi, described the agreement as a significant milestone in Nigeria’s push for cleaner, more transparent port operations.

    According to him, the partnership aligns with the Federal Government’s Renewed Hope Agenda and ongoing reforms under the Presidential Enabling Business Environment Council (PEBEC), particularly initiatives targeting ports and customs efficiency.

    He said the MoU would deploy internationally tested anti-corruption tools, already effective offshore to the land side of ports, enabling real-time reporting of bottlenecks, undue demands and operational delays.

    “This MoU is all about introducing transparency in the freight forwarding business. It will enhance the ease of doing business, reduce costs, and improve the flow of cargo across our ports and logistics corridors. These tools are for everyone, importers, exporters, freight forwarders, terminal operators, government agencies. They help users mitigate challenges in real time,” he said.

    Read Also: Okpebholo takes EU ambassadors to monarch

    Onyekechi stressed that the tools are not designed to witch-hunt operators but to sanitise the system and discourage backdoor practices that inflate the cost of goods.

    “When deals are done without transparency, justice is threatened. We want a cleaner, more transparent environment. If users face challenges, whether from state or non-state actors, they can get help immediately. But those using the tools must also be clean no one goes to equity with dirty hands,” he said.

    He added that the reforms would ultimately benefit everyday Nigerians by lowering logistics costs, which contribute significantly to rising market prices.

    CIB co-founder, Olusoji Apampa, said the partnership builds on progress achieved at the marine side of Nigerian ports, where vessel operations have become more transparent and less prone to harassment and unreceipted payments.

    According to him, extending these gains to the land corridor is critical because freight forwarders still encounter numerous informal charges at almost every stage of cargo movement.

    “Today, we signed an MoU to provide CRFFN with tools developed by the Maritime Anti-Corruption Network, headquartered in Denmark. Beyond providing tools, we will offer training, capacity building and support on how to receive complaints and follow through to ensure change happens along the land side of the ports and the wider logistics corridors,” he said

    Apampa noted that over 80 to 90 percent of goods consumed in Nigeria enter through the ports, meaning every hidden charge eventually reflects in retail prices.

    “Many officials don’t realise that unreceipted demands go back into freight costs and ultimately into the price of goods in the market. We all shop in the same markets, so this change benefits everyone,” he said.

    He added that the initiative would gradually extend beyond the maritime sector into aviation and other logistics areas as part of a broader integrity and governance reform agenda.

  • LASPPA harps on good ethical conduct

    LASPPA harps on good ethical conduct

    The Lagos State Commissioner for Physical Planning and Urban Development, Dr. Oluyinka Olumide has charged officers of the Lagos State Physical Planning Permit Authority (LASPPPA) on good ethical conduct, following the rise in applications due to the ongoing Amnesty Programme.

    Olumide gave this charge while addressing LASPPPA’s management staff at the Agency’s headquarters in Ikeja.

    He said the increase in submissions recorded across LASPPPA district offices since the Amnesty window reopened was in tandem with his expectations as the programme, which runs from 1st November to 31st December 2025, offer property owners with existing unapproved buildings the chance to regularise their developments without paying statutory penalties, provided they meet planning and safety standards.

    The Commissioner commended the public’s swift response but stressed the need for LASPPPA officers to immediately scale up operations to manage the surge.

    “As experienced planning officers, you must ensure faster processing, strict compliance checks, and clear communication with applicants. It is your responsibility to treat applicants with utmost respect”, he said.

    Read Also: Okpebholo takes EU ambassadors to monarch

    He enjoined officers to ensure that only buildings that meet minimum acceptable standards receive approvals while reaffirming that the Amnesty Programme was not an automatic approval scheme but a purposeful initiative to promote orderly development and ensure safety within the built environment.He urged district officers to extend support to applicants, eliminate delays that could discourage compliance, and shun any form of shortcuts or underhand practices, noting that applications must be handled efficiently, transparently, and with absolute professionalism.

    Residents were reminded to submit their applications either through the 57 LASPPPA district offices or via the Electronic Planning Permit (EPP) portal, and to ensure that all required documents including survey plans, proof of ownership, As-built design drawings, among others were properly compiled.

    The Commissioner urged property owners to take advantage of the Amnesty window while it lasts, emphasising that the surge in applications showed widespread willingness to comply with planning regulations.

  • Oyetola appoints Iyelolu Registrar of Ships

    Oyetola appoints Iyelolu Registrar of Ships

    Minister of Marine and Blue Economy, Adegboyega Oyetola, has approved the appointment of Barr. Adenike Iyelolu as the new Registrar of Ships.

    Her four-year tenure takes effect immediately, following a recommendation by the Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dayo Mobereola.

    The appointment marks a major administrative step for the Nigerian Ship Registry, one of the country’s key maritime regulatory institutions.

    Under the NIMASA Act 2007, the Registrar of Ships reports directly to the Director General for effective oversight of vessel documentation and compliance. The Act states that “the Registrar of Ships shall, with the approval of the Minister, be appointed by the Director General from among the staff of the Agency.”

    Read Also: Okpebholo takes EU ambassadors to monarch

    Iyelolu, currently a Deputy Director at NIMASA, brings more than 25 years of post-call experience in maritime law, arbitration, procurement, contract administration, corporate governance and institutional leadership. She takes over from Barr. Tajudeen Giwa, who retired after what the Agency described as “years of commendable service.”

    NIMASA’s spokesperson, Osagie Edward, confirmed the development, stressing that the appointment reflects the Ministry’s commitment to strengthening maritime administration.

    “Barr. Iyelolu’s appointment comes following the retirement of the former Registrar of Ships, Barr. Tajudeen Giwa, after years of commendable service,” he said.

    The Agency expects the new Registrar to drive reforms that will enhance the competitiveness and credibility of the Nigerian Ship Registry.