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Nigeria not yet out of the woods
AMERICAN and Western European experts predicted that Nigeria will disintegrate in 2015. With the political desperation and frenzy that marked the political campaigns of the 2015 presidential election, many thought that Nigeria was at the point of the predicted 2015 disintegration. Surprisingly, the election took place without the much anticipated violence.
And following the election, the incumbent president, Goodluck Jonathan, conceded defeat to the victorious opposition presidential candidate, Mohammudu Buhari. This forestalled the anticipated violence and predicted breakup. Refreshingly, the doomsayers were proved wrong.
Disturbingly, Nigeria is still not completely out of the woods; as it may still break up. The possibility of conflict and dissolution of the country continue to loom because Buhari is stoking trouble. He is actively stirring up issues that can lead to serious national conflicts.
Nigeria is a very complex country, and its governance is complicated by tribal, religious and sectional rivalries. In my viewpoint, Buhari is insensitive to this complexity and lacks the finesse and dexterity needed to govern Nigeria. With a military background and orientation, and a total lack of a liberal education, he is ill-equipped to preside over a democratic Nigeria. He has no refinement, and as such, only understands the language of force. He also does not understand the world order. Recall that he once referred to Germany as Western Germany and Chancellor Angela Merkel as President Michelle. Those were just tip of the iceberg.
There is no doubt that corruption is killing Nigeria, and that something needs to be done urgently to deal with it. But you do not pull the entire house down simply to kill the rats in the ceiling. It demands that you methodically take out the rats one by one, so that, after the rats are gone, you still have a house to live in. He needs to respect the equality of all Nigerians under the law. His 95 percent formula is naive and counterproductive.
A successful war on corruption is not necessarily a function of the number of people jailed. The emphasis should not be just on sending people to jail for corruption, but also, in deterring acts of corruption. In his fight against corruption, Buhari refuses to understand that Nigeria is a representative democracy, and not a military dictatorship or a neo-military dictatorship.
A democracy is guided by the rule of law and not the impulsiveness and arbitrariness of a retired army general. The legal process is usually slow and painstaking. Buhari is impetuous; he does not have the patience and tolerance for the measured pace of the law. He wants, at his whims and caprices, to jail southern politicians and his enemies of northern extraction such as Col. Sambo Dasuki for corruption.
He wants to rearrange the judiciary, and reconstruct and expand Kirikiri Prison. He will then fill the prison with his political enemies, as all those he fingered for corruption will automatically be arrested by the Economic and Financial Crime Commission (EFCC) and jailed for one hundred years or more by a compliant judiciary, dominated by northern judges.
Is Buhari’s hypocrisy not conspicuously obvious? To tackle corruption, he must first purge himself of his excess baggage. He must approach equity with clean hands. How on earth can he fight corruption when the likes of Tinubu, Okorocha and former governor, Amaechi are his political allies? Please explain it to me! Amaechi is the man that funded Buhari’s campaign with money from the coffers of the government of Rivers State. Buhari, of course, knew the source of the campaign funds. At the time he was spending money on the Buhari Presidential Campaign, he was a sitting governor. He was not a multi-billionaire in the mold of Dangote. So, the source of the money was obvious to Buhari.
It is understandable that a president appoints people that he is comfortable with to work with him. But to appoint only his friends and relatives to pivotal positions as the Director Generals of the Directorate of State Security (DSS), Customs and Immigrations and the Chairman of the Independent National Election Commission (INEC) is nepotism. Nepotism is corruption.
And he insulted the sensibilities of Nigerians by justifying the appointments on the grounds that the appointees are loyal to him as friends and relatives. It is wrong for him to give the impression that only his friends, relatives and others from the northern part of Nigeria are competent, and committed to his vision. In addition, his punishing of those regions of the country that did not vote for him in the presidential election is grossly unfair. It is not only setting a dangerous precedent but inflames ethnic fury.
My honest advice to Buhari is to first of all stabilise the economy and embark on institutional reforms that will strengthen the judiciary and the legislature before delving into other major divisive issues. However, he is neither reforming nor strengthening our national institutions. Actually, he is weakening them; he meddles in the judiciary and remote-controls the Senate and the House; thus, undermining the separation of powers.
This is posing a serious problem for Nigerian democracy because these branches of government need to operate independently. What we are experiencing today is a military regime masquerading as a democracy.
UkwuBuhari’s hounding of his political enemies with Gestapo-styled DSS raids on state government houses, private homes, etc attests to this reality. The lopsidedness of his administration’s actions is causing some silent but powerful and dangerous ripple. Nigeria is boiling. I see 1966 coming full cycle.
Mr. Lloyd Ukwu, an international lawyer, wrote from Washington D.C., USA.
The project ends decades search for investors, boosts Nigeria’s blue economy
By Prince Adeyemi Shonibare
Nigeria’s maritime sector is set for a major transformation following a landmark agreement involving the world’s largest container shipping company, Mediterranean Shipping Company (MSC), which has secured a 45-year concession to build, manage and operate a modern container terminal at Snake Island Port in Lagos.
The project, to be developed in partnership with Nigerdock, marks one of the most significant private sector investments in Nigeria’s port infrastructure in recent decades and is expected to strengthen the country’s role as a major maritime gateway in West and Central Africa.
For Nigeria, the agreement brings to close decades of efforts to attract large-scale investors to develop Snake Island Port, a strategically located maritime asset in Lagos.
Long-standing concession history
Snake Island’s maritime facilities date back several decades. In 1992, the Federal Government granted a 99-year concession for the island’s port and industrial facilities to Nigerdock, a major maritime engineering and logistics company.
Nigerdock was later privatised and is currently operated by the Jagal Group owned by Nigerian industrialist Maher Jarmakani.
Over the years, the Island Container Terminal fell into disrepair, requiring major rehabilitation and modernization to meet modern global shipping standards.
The new partnership with MSC is expected to transform the port into a state-of-the-art container handling facility capable of attracting larger vessels and increasing Nigeria’s cargo throughput capacity.
Buhari administration approved the project.
The investment framework for the Snake Island development was approved in May 2023 by the Federal Executive Council under then President Muhammadu Buhari.
The approval authorised total private investment of approximately $974.1 million for the project under a Public-Private Partnership structure, including the 45-year concession period.
At the same time, the Federal Government also approved two other major maritime infrastructure projects:
• Development of the Ondo Multipurpose Port in Ilaje, Ondo State, with $1.48 billion in private investment and a 50-year concession.
• Expansion and development of the Burutu Sea Port in Delta State, involving $1.2 billion in private investment and a 40-year concession.
These projects form part of Nigeria’s broader effort to develop its blue economy and expand maritime trade capacity.
Construction partners
Engineering and construction of the Snake Island container terminal will be handled by:
• ITB Nigeria Limited
• DEME Group
ITB Nigeria Limited is part of the Chagoury Group and owned by the Chagoury family, while DEME Group is a globally recognised Belgian marine engineering and dredging company with extensive experience in port construction.
MSC profile
Founded in 1970 by Italian shipping entrepreneur Gianluigi Aponte and his wife Rafaela Aponte-Diamant, MSC has grown from a single cargo vessel into the largest container shipping company in the world.
Headquartered in Geneva, Switzerland, the company operates in more than 155 countries and serves over 500 ports worldwide, with a fleet of roughly 900 container ships and over 200,000 employees globally.
The MSC Group also operates major logistics and maritime businesses including inland logistics through Medlog, cruise tourism through MSC Cruises, and port terminal operations across several continents.
According to Forbes, the estimated net worth of MSC founder Gianluigi Aponte is about $43.9 billion as of February 2026, placing him among the world’s richest shipping magnates. The company remains privately owned by the Aponte family, with both founders holding equal ownership stakes.
Management comments
Speaking on the development, MSC Group President Diego Aponte said the company is committed to strengthening its operations in Nigeria and across Africa.
“We are proud to expand our presence in Nigeria through this important infrastructure project. The Snake Island terminal will enhance service delivery and improve port efficiency for our customers and partners in the region,”
Chief Executive Officer of Nigerdock, Maher Jarmakani, described the agreement as a major milestone for the Nigerian maritime sector.
“We are delighted to partner with MSC in developing a world-class container terminal that will enhance Nigeria’s logistics capabilities and support economic growth,” he said.
Economic impact
Industry analysts say the project could significantly strengthen Nigeria’s maritime economy by expanding cargo handling capacity, reducing congestion at Lagos ports and attracting additional international shipping traffic.
The development is also expected to create thousands of direct and indirect jobs across maritime operations, logistics, transport services and port-related commercial activities.
Infrastructure expansion
Beyond the port development, plans are also underway for Nigeria’s first underwater tunnel, linking Ahmadu Bello Way in Victoria Island through Snake Island and connecting the Lagos-Calabar Coastal Highway with the Sokoto-Badagry Superhighway corridor through Badagry.
The tunnel project is expected to significantly improve freight movement and road connectivity between Lagos ports and national transport networks.
Strategic milestone
With the entry of MSC into the Snake Island development, industry observers say Nigeria is taking a significant step toward modernizing its maritime infrastructure and positioning itself as a regional hub for global shipping and trade.
For a project that has waited for decades for major international investors, the Snake Island concession represents a turning point in Nigeria’s port development strategy and a strong signal of global confidence in the country’s maritime future.
By Prince Adeyemi Shonibare
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From Construction Sites to Community Service: Temitope Akinyemi Emerges as a Model of Leadership and Impact
Energy experts in Nigeria’s downstream petroleum sector have defended the pricing structure of the Dangote Petroleum Refinery, accusing some fuel markers of attempting to blackmail the refinery and mislead the public over the recent increase in petrol prices.
The experts said reports suggesting that the refinery’s latest adjustment is solely responsible for the recent hike in fuel prices were misleading, noting that importers are also bringing in petrol at almost a N1,000 per litre, while the refinery’s coastal price is N948 and the gantry or ex-depot price stands at N995 per litre.
They stressed that public comparisons fail to consider the differences in pricing structures and supply channels.
According to the experts, N948 per litre represents the coastal delivery price, which refers to petroleum products transported by marine vessels or barges from the refinery to depots along the coastline. On the other hand, N995 per litre represents the gantry or ex-depot price, which is the rate paid by marketers who load petrol directly from the refinery into tanker trucks at the loading gantry for onward distribution across the country.
The experts explained that the two figures should not be interpreted as conflicting prices but rather as different logistics arrangements within the petroleum distribution chain.
Speaking with our correspondent on Sunday, energy expert David Okon said the pricing adjustments were inevitable given prevailing market conditions.
According to him, Dangote Petroleum Refinery & Petrochemicals operates in a deregulated market and procures crude at international prices, which have risen sharply due to geopolitical tensions in the Middle East.
“The refinery is already absorbing part of the cost to cushion the impact of the crisis on Nigerians. We can see what is happening in other parts of the world where shortages and scarcity are being reported despite higher prices, yet the Dangote Refinery has continued to guarantee domestic supply,” he said.
Okon explained that when the refinery previously sold petrol at N774 per litre, crude oil was landing at about $68 per barrel. However, with crude now arriving at roughly $95 per barrel, the cost difference of about $27 per barrel translates to nearly N40,000 per barrel when converted to Naira.
“You cannot expect a refinery to continue selling at the old rate under those circumstances,” he added.
“If imported products were truly cheaper, importers would still be selling at the previous prices.”
He warned that without local refining capacity, Nigeria could have faced severe fuel shortages, long queues at filling stations and a resurgence of black market sales.
“Without the Dangote Refinery, many filling stations would likely shut down, queues would return across the country and black market traders would exploit the situation, hawking four litres keg at N20,000 or more. The refinery has effectively prevented that scenario,” he said.
Another analyst, Mohammed Ibrahim, also faulted narratives circulating in some quarters suggesting that the refinery’s pricing adjustment was responsible for worsening economic hardship in the country.
Accusing some importers of attempting to manipulate public perception, he said, “What we are seeing is nothing but deliberate blackmail by some fuel importers who feel threatened by local refining.
“They are twisting the pricing structure to mislead Nigerians and create unnecessary panic in the market.
“By exaggerating the refinery’s gantry price and ignoring the comparable costs of imported fuel, they are trying to make it appear as though Dangote Refinery is the cause of rising prices and economic hardship. This is a calculated attempt to protect their import businesses and undermine local refining, which is meant to reduce our dependence on imported petrol.”
Ibrahim added that such narratives were aimed at portraying the refinery as the reason Nigerians were struggling with higher petrol prices.
He stressed that petrol pricing in Nigeria is largely influenced by global crude oil prices, exchange rate fluctuations, and distribution logistics, noting that these factors affect both locally refined and imported fuel in the country’s deregulated market.
Afolabi Olowookere, Managing Director and Chief Economist at Analysts’ Data Services and Resources (ADSR) Limited, explained that although Nigerians expect refined products from the refinery to be significantly cheaper, prevailing market realities such as global crude oil prices, the cost of crude supply and refining margins make substantial price reductions unlikely in the short term.
“Therefore, improving domestic crude allocation to the refinery would strengthen supply stability and enhance the long term benefits of local refining for the economy,” Olowookere noted.
Recent conflicts in the Middle East and disruptions along key shipping lanes have tightened global oil supply, pushing crude prices past $90 per barrel, a development that directly raises the cost of both imported and locally refined petrol in Nigeria.
The unrest has pushed up fuel costs and transportation in several countries, including Ghana, the United States, the United Kingdom, South Africa, India, Canada, Brazil, Germany, France, and Japan, as rising crude prices increase the cost of refining, distribution, and logistics globally.
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