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Tincan Port fencing will enforce automated access control gate usage – Bello-Koko




The Nigerian Ports Authority (NPA) on Friday said that the concrete fencing of Tincan Port would help enforce the usage of the automated access control gate.

Mr Mohammed Bello-Koko, Managing Director, NPA, said this during a tour of the Tincan Port in Lagos, to ascertain the level of execution of contract awarded.

Bello-Koko noted that the tour was to look at operations at the port to see what had been achieved so far, especially in terms of improving sanity and ensuring that only people that should be in the port have access.

“We can see that Tincan has now been fenced, using concrete walls from the outside. The essence is to secure the port, not just because of safety, but also to restrict entrance.

“There are individuals that just wake up in the morning and want to come into the port with no business in the port.

“By reducing the number of persons, by restricting entry into the port, we are ensuring that we reduce pilfering and theft, reduce thugs and miscreants into the port.

“Then, it will create an enabling business environment within the port location as referred by the International Ship and Port Facility (ISPS) Code,” he said.

He noted that fencing of Tincan Port would ensure individuals who had no business in the ports are kept out, adding that the use of automated access control gate would be enforced.

Bello-Koko said he was impressed to see fewer people at the port unlike how it was in the past.

The managing director said, “we will keep enforcing and restricting entry into the port to only those that have businesses in the port”.

The NPA boss noted that as regards safeguarding the waterside, what they had done was to increase patrol.

He said that NPA had purchased security patrol boat for the waterside and working with the Nigerian Navy, within the ports in Lagos, to increase their own patrol.

“We are working with the Nigerian Navy Ship(NNS), Beecroft and there are parts of the port along the waterway that we felt should also be fenced, but we are looking at the best option due to the soft nature of the ground.

“So, if we can’t fence the waterfront what we should do is patrol it, restrict access into the port from the waterside using the patrol boats and surveillance.

“Our security men are up to the task and we will keep giving them all the tools that they need to improve their communication. We will keep improving it and we will buy more patrol boats to ensure the waterfront is also secured,” he said.

As regards residence in little island across the channel around Ogogoro, Tomato island and others on security, Bello-Koko said that the authority was engaging the communities on the efforts in cleaning up the area.

“We are engaging them through community and stakeholders interactions. We are also working with the Lagos State Government, we once had the 360 degree operation, which first of all went round to remove all shanties along the port corridor.

“We went to those islands to ensure residents that do not need to be there, were removed,” he said.

He added that the authority was waiting for the elections to be over and at the right time working with the Lagos State Government and the communities to ensure that the operations takes place, again.


He added that the rehabilitation of internal roads in the nation’s ports was ongoing and was aimed at reducing the complaints of users of the ports.

“People are complaining of the roads leading to the port, which is the responsibilities of the Federal Government of Nigeria through the Federal Ministry of Works.

“We felt we should ensure that the roads within the port are in good state and thus, the ongoing rehabilitation.

“It has started raining in Lagos and we came to look at the level of execution of the contract we awarded,” he said.

He said that the contractor, Avalon Intercontinental Nigerian Ltd., assured him that the section of the contract of the roads would be concluded in two-weeks time.

He noted that the authority would ensure that it was done as the location had issue of flooding.

“They have created drainage outlets into the main creek, the portnovo creek, to ensure evacuation of water.

“We are doing it at other port locations in the country. We are doing that in Onne, Calabar and also Rivers Port, just to ensure that roads within the ports are in a very good state,” he said.

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Naira Appreciates To ₦‎1,280/$ At Parallel Market




The naira, on Friday, appreciated to N1,280 per dollar at the parallel section of the foreign exchange (FX) market.

The current FX rate signifies a 5.19 percent appreciation from the N1,350/$ reported on March 27.

Currency traders in Lagos, also known as bureau de change (BDCs) operators, quoted the buying rate of the greenback at N1,260 and the selling price at N1,280 — leaving a profit margin of N20.

“The price of the dollar as well as other major currencies have been falling. It is affecting our business as some customers prefer to keep their currencies than change it with us,” a currency trader identified as Aliyu told TheCable.


At the official section of the FX market, the local currency depreciated by 0.69 percent to N1,309.39/$ on March 28 — from N1,300.43/$ on March 27.

Meanwhile, the Central Bank of Nigeria (CBN), on March 29, said the economy recorded over $1.5 billion in foreign exchange (FX) inflow this month, indicating its monetary policy initiatives are effective.

The apex bank said the naira is headed in the right direction, and the administration of Yemi Cardoso, CBN governor, remains committed to ensuring the stability of the market and the appropriate pricing of the naira against other major currencies worldwide.

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Inflation To Fall In 2024 — CBN




The Central Bank of Nigeria’s governor Yemi Cardoso expects headline inflation to fall to 21.4 per cent in 2024.

The apex bank’s governor disclosed this during his keynote speech at the launching of the Nigerian Economic Summit Group macroeconomic outlook report for 2024.

He said, “Inflationary pressures are expected to decline in 2024 due to the CBN’s inflation-targeting policy, which aims to rein in inflation to 21.4 per cent.”


According to him, the inflation targeting will help the government in its battle against inflation which hit 28.9 per cent in December. Lower rates will ultimately affect businesses, he alluded.

“The outlook for decreasing inflation in 2024 will have a profound impact on businesses, providing a more predictable cost environment and potentially leading to lower policy rates, stimulating investment, fueling growth, and creating job opportunities,” Cardoso said.

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