RateCaptain
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
Subscribe
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
RateCaptain
No Result
View All Result
Home Economy

Buhari’s 8 years Martime Achievements

Rate Captain by Rate Captain
May 20, 2023
in Economy, Politics
Reading Time: 2 mins read
A A
0
Buhari’s 8 years Martime Achievements
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

Lekki Deep Seaport, the Deep Blue project, and the electronic call-up system have emerged as the standout projects in Nigeria’s maritime industry during President Muhammadu Buhari’s tenure. These multibillion-naira ventures have successfully been completed and have significantly impacted the efficiency of the country’s ports.

The primary objective of these projects was to streamline operations, reduce waiting times for vessels, and enhance the speed of cargo clearance, ultimately improving the overall throughput of Nigerian ports. The outgoing administration has made substantial investments to achieve these goals, ultimately benefiting port users and reducing costs.

AlsoRead

National Grid Collapses Again, Plunging Nigeria into Nationwide Blackout

US Records $1.45 Billion Trade Surplus with Nigeria in First 10 Months of 2025 as Exports Surge 60%

LIRS Warns Banks, Employers and Others: We’ll Deduct Unpaid Taxes Directly from Your Funds

The Federal Government has recently made progress on the proposed Inland Container Depot (ICD) projects, initiated by the Nigerian Shippers’ Council in collaboration with private sector investors. These projects were planned for seven different locations in Nigeria, including Isiala Ngwa, Aba; Erunmu, Ibadan; Heipang, Jos; Zawachiki, Kano; Zamfarawa, Funtua; Jauri, Maiduguri, and ICNL, Kaduna. However, only the ICDs in Kaduna and Kano have been completed thus far.

On January 30, 2023, President Buhari inaugurated the Dala Inland Dry Port in Kano, establishing it as a port for both import and export activities. Similarly, on February 2, 2023, the Federal Government declared the Funtua Inland Dry Port in Katsina State as a port of origin and final destination. The aim of these initiatives is to bring shipping operations closer to port users, particularly those in the hinterland, thereby reducing costs associated with traveling to Lagos to retrieve their consignments.

Another significant milestone in President Buhari’s tenure was the official commissioning of Nigeria’s first deep seaport, Lekki Port, on January 24, 2023. Situated in the Ibeju-Lekki area of Lagos State, the $1.5 billion project was executed through a joint venture involving Lekki Port LFTZ Enterprise Ltd, China Harbour Engineering Company Ltd, Tolaram, the Lagos State Government, and the Nigerian Ports Authority (NPA).

Industry experts view the completion of Lekki Port within a construction timeline of 45 months as a testament to the unwavering support of the Federal Government, demonstrated by the NPA and the Lagos State Government. Governor Babajide Sanwo-Olu of Lagos State emphasized that Lekki Deep Seaport is the largest facility of its kind in West Africa and is poised to generate thousands of employment opportunities for Nigerians.

Additionally, Mohammed Bello-Koko, the managing director of the NPA, highlighted the port’s significant depth of 16.5 meters, enabling the accommodation of larger vessels and increased cargo capacity. This favorable condition will lead to economies of scale, reducing the cost of doing business for port users and further boosting the efficiency of the maritime industry.

The successful completion of these groundbreaking projects underscores the commitment of President Muhammadu Buhari’s administration to modernize Nigeria’s maritime sector, enhance operational efficiency, and stimulate economic growth in the country.

Previous Post

Founder of FCMB, Mr. Balogun, Passes Away at 89 in London

Next Post

FAAC Allocates N655.9 Billion to Federal, State, and Local Governments in April 2023

Related News

 Top Story: Central Bank Raises MPR by 200 Basis Points to 24.75%

National Grid Collapses Again, Plunging Nigeria into Nationwide Blackout

by Victoria Attah
January 27, 2026
0

Nigeria’s electricity grid has suffered another total system collapse, marking the second major failure in 2026 and leaving the entire...

US Records $1.45 Billion Trade Surplus with Nigeria in First 10 Months of 2025 as Exports Surge 60%

by Jide Omodele
January 27, 2026
0

The United States posted a $1.45 billion goods trade surplus with Nigeria in the first ten months of 2025  a...

LIRS Shuts 34 Companies Over Tax Non-Compliance

LIRS Warns Banks, Employers and Others: We’ll Deduct Unpaid Taxes Directly from Your Funds

by Stephen Akudike
January 26, 2026
0

The Lagos State Internal Revenue Service (LIRS) has issued a strong public warning that it will begin using its legal...

$26 Billion for unidentified source passed through Binance-Cardoso

CBN Auctions N1.15 Trillion in Treasury Bills as Investors Eye Higher Yields

by Stephen Akudike
January 22, 2026
0

The Central Bank of Nigeria (CBN) is set to conduct its second Treasury bills auction of 2026 today, offering instruments...

Next Post
FAAC Allocates N655.9 Billion to Federal, State, and Local Governments in April 2023

FAAC Allocates N655.9 Billion to Federal, State, and Local Governments in April 2023

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

2024 Budget Outline: Oil Price Set at $77.96, Naira Stands at 750 Against the Dollar

Nigeria and UAE Sign Landmark Trade Deal to Eliminate Tariffs on Thousands of Products

January 27, 2026
 Top Story: Central Bank Raises MPR by 200 Basis Points to 24.75%

National Grid Collapses Again, Plunging Nigeria into Nationwide Blackout

January 27, 2026

Popular Story

  • 2024 Budget Outline: Oil Price Set at $77.96, Naira Stands at 750 Against the Dollar

    Nigeria and UAE Sign Landmark Trade Deal to Eliminate Tariffs on Thousands of Products

    0 shares
    Share 0 Tweet 0
  • Dangote Refinery Suspends Petrol Sales and Cancels Contracts as Crude Supply Issues Bite

    0 shares
    Share 0 Tweet 0
  • US Records $1.45 Billion Trade Surplus with Nigeria in First 10 Months of 2025 as Exports Surge 60%

    0 shares
    Share 0 Tweet 0
  • Nigeria Customs Service Surpasses N7.2 Trillion Revenue Target in 2025

    0 shares
    Share 0 Tweet 0
  • National Grid Collapses Again, Plunging Nigeria into Nationwide Blackout

    0 shares
    Share 0 Tweet 0
RateCaptain

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • Home
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Disclaimer
  • Cookie Policy
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

RateCaptain
Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
  • Manage options
  • Manage services
  • Manage {vendor_count} vendors
  • Read more about these purposes
View preferences
  • {title}
  • {title}
  • {title}
?>