The Nigeria Customs Service (NCS), Lilypond Export Command, has announced that it generated N7.1 billion in revenue from the Nigeria Export Supervision Scheme (NESS) in the first quarter of 2025.

The Comptroller of Customs (CAC) at the Lilypond Export Command, Mr. Ajibola Odusanya, disclosed this on Thursday during a news conference in Lagos.

He noted that the NESS revenue rose slightly in the first quarter of 2025, reaching N7.1 billion compared to N7 billion recorded in the same period of 2024.

Spike in container traffic at Lilypond
Odusanya reported that the command handled a total of 11,459 containers (both 20ft and 40ft) in the first quarter of 2025, an increase of 5,568 containers compared to the 5,891 containers recorded during the same period in 2024.

He noted that the surge was driven by significant exports of diverse commodities, including agricultural produce, manufactured goods, and solid and extractive minerals, among others.

“From the 11,459 containers handled by the command in the first quarter of 2025, which were stuffed with agricultural produce, earnings amounted to $596.8 million; $329.9 million was generated from manufactured goods; $50.1 million from solid minerals; and other goods accounted for $87.4 million of trade value.

“In comparison, agricultural produce handled in the first quarter of 2024 stood at $542.9 million, manufactured goods at $134.6 million, solid minerals at $87.4 million, and other goods at $18.1 million.

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“The cumulative export value in the first quarter amounted to $986.4 million, which is 318 percent higher than the $236.0 million value of export through the command in the first quarter of 2024. Comparatively, this shows an increase of $750.3 million, representing over 318 percent improvement in value,” Odusanya stated.

Leadership driving export growth and diversification
Odusanya stated that under his leadership, the command had continually improved, with promising prospects of attracting more exporters and contributing meaningfully to the Federal Government’s drive for economic diversification through exports.

He emphasized that the consolidation of export operations under the Lilypond Export Command (LEXC), in line with directives from the Comptroller General of Customs (CGC), Bashir Adeniyi, had significantly enhanced the efficiency of export cargo handling.

According to him, the consolidation has played a major role in the growing success of LEXC activities, especially at the Lagos ports.

Highlighting the progress, Odusanya recalled the celebration of outstanding Nigerian exporters on February 14, during the formal launch of the Authorised Economic Operator (AEO) scheme.

He noted that this recognition was a testament to the growth of export activities across the country.

The Lilypond boss also appreciated stakeholders and sister agencies for their collaborative efforts in boosting export operations, adding that they remain committed to seamless trade facilitation.

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The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC Ltd.), Bashir Ojulari, has pledged to attract a staggering $60 billion in investments into Nigeria’s oil and gas sector by 2030, with a near-term milestone of $30 billion by 2027, as reported by Nairametrics.

This ambitious target forms part of a sweeping transformation agenda aimed at scaling up crude oil production and enhancing the energy landscape of Africa’s largest economy.

The News Agency of Nigeria (NAN) reports that Ojulari made this commitment during a town hall meeting with NNPC Ltd. staff in Abuja, shortly after assuming office.

His address, which sets a new tone for leadership in the company, demonstrates an urgent need to drive performance, foster innovation, and deliver tangible results.

“We stand at the gateway of a new era—one that demands courage, professionalism, and a relentless drive for excellence,” Ojulari declared. “Now is the time to turn our transformation promise into performance.”

Crude Production, Refining, and Gas Expansion Targets
Ojulari disclosed that NNPC Ltd., under his stewardship, is targeting a crude oil production level of over two million barrels per day (bpd) sustained through 2027, with a vision to ramp up production to three million bpd by 2030.

In refining, the new GCEO outlined plans to expand Nigeria’s domestic refining capacity to 200,000 bpd by 2027, scaling up to 500,000 bpd by 2030. This is seen as a critical step toward achieving energy self-sufficiency and reducing reliance on imported petroleum products.

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On the gas front, Ojulari revealed that gas production is projected to grow to 10 billion cubic feet (bcf) per day by 2027, reaching 12 bcf per day by 2030. This aligns with Nigeria’s decade of gas agenda and its broader transition towards cleaner and more sustainable energy sources.

Rebuilding NNPC for Performance and Accountability
The GCEO emphasised a radical restructuring of the company’s business architecture to improve agility, enhance value creation, and embrace performance management.

“To achieve these targets, we will reconfigure our business structure, conduct independent value assessments for data-driven decision-making, and enforce a robust performance management framework,” Ojulari said.

A key aspect of the transformation agenda is building transparent and value-aligned partnerships with both domestic and international stakeholders, and reclaiming control of NNPC Ltd.’s narrative as a dynamic and forward-looking energy company.

He further highlighted the strategic importance of the targets, describing them as “indicators of hope, jobs, industrial growth, and energy security for millions of Nigerians.”

Empowering People, Driving Inclusion
Ojulari pledged a strong commitment to employee development and empowerment, vowing to build a high-performing workforce that thrives on excellence and collaboration.

“Our success will be powered by empowered employees. We will provide the best environment where both experienced professionals and young talents can thrive,” he assured.

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He called on all staff to lead with integrity, act with urgency, and commit fully to the company’s new direction. The GCEO also reaffirmed his commitment to deepening collaboration with staff unions, fostering a culture of mutual trust and shared purpose.

On April 2, 2025, President Bola Tinubu appointed Bashir Ojulari as the new Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company (NNPC) Limited.

The appointment came as part of a sweeping board overhaul that led to the removal of NNPC’s chairman, Chief Pius Akinyelure, former GCEO Mele Kyari, and several other board members appointed in November 2023.

Before his appointment, Ojulari had a distinguished career at Shell and later transitioned to the private sector, where he continued to shape Nigeria’s energy landscape.

Odili’s influence in the maritime sector runs deep. As the chairman and executive director of Aeromaritime Group, he oversees a conglomerate with interests in shipping, stevedoring, oil and gas, and logistics, as reported by Billionaires.Africa.

His leadership of Brawal Shipping Nigeria, now a unit of Aeromaritime, solidified his presence in an industry crucial to Africa’s trade and economic development.

But his reach extends far beyond the seas. Odili is also one of the biggest private investors in Nigeria’s telecom industry, holding a 5.08 percent stake in MTN Nigeria. …CONTINUE READING.

That investment alone is worth nearly $180 million), placing him among the wealthiest shareholders on the Nigerian Exchange (NGX). His strategic patience in the telecom space, spanning nearly two decades, has paid off significantly as MTN Nigeria continues to expand its dominance in the sector.

A graduate of Croydon Technical College and the London School of Economics, Odili’s career has taken him from Lonhro Limited in London to Beirut and back to Nigeria, where he carved out a name for himself in the private sector. His business interests now span multiple sectors, including energy, finance, and real estate, reflecting his ability to spot opportunities in high-growth industries.

As one of Nigeria’s most influential investors, Odili continues to shape the country’s business landscape. Below, Billionaires.Africa takes a closer look at 10 companies under his vast business empire, exploring their operations, market impact, and contributions to Nigeria’s economic growth.

Brawal Shipping Nigeria Limited
Brawal Shipping Nigeria, a cornerstone of Victor Odili’s Aeromaritime Group, has been a key player in Nigeria’s shipping and logistics industry since 1981. Headquartered in Lagos, the company specializes in cargo transportation, shipping agency services, and freight solutions that support the nation’s import-export sector. As chairman, Odili led Brawal Shipping through tough times, including a prolonged rent dispute with the Nigerian Ports Authority, while maintaining its reputation for reliable shipping and stevedoring services. Today, Brawal Shipping remains a vital part of Aeromaritime Group’s operations, which span shipping, stevedoring, and the oil and gas sectors.

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MTN Nigeria
MTN Nigeria, the country’s largest telecom operator, connects millions through its extensive mobile, data, and financial services network. Headquartered in Lagos, the company has issued over 20 billion shares, reinforcing its dominant market position. Among its major investors is Victor Odili, a seasoned shipping magnate and chairman of Aeromaritime Group. Through his investment firms—Hermitage Overseas Corporation and Hermitage Eko Investments Ltd—Odili holds a 5.08 percent stake in MTN Nigeria, comprising a 4.32 percent share via Hermitage Overseas and 0.62 percent through Hermitage Eko. As of Feb. 27, 2025, his total holdings are valued at nearly $180 million.

Mainstream Energy Solutions Limited
Mainstream Energy Solutions Limited (MESL) is a leading force in Nigeria’s energy sector, focusing on power generation and distribution. As a board member, Victor Odili has played a role in expanding MESL’s reach and impact. In 2021, its subsidiary, Quest Electricity Nigeria Ltd., acquired a 60 percent stake in Yola Electricity Distribution Company (YEDC), strengthening MESL’s commitment to improving electricity access in northeastern Nigeria. In partnership with the Northeast Development Commission, MESL has invested in training programs to enhance YEDC’s efficiency. The company continues to explore renewable energy integration and optimize power distribution nationwide.

Aeromaritime Group
Victor Odili is the chairman and executive director of Aeromaritime Group, a diversified conglomerate with more than eight member companies operating in Nigeria’s shipping, stevedoring, and oil & gas sectors. With a background from Croydon Technical College and the London School of Economics, as well as professional experience at Lonhro Limited in London and Beirut, Odili has used his global expertise to drive growth in Nigeria’s maritime and energy industries. His leadership has solidified Aeromaritime Group’s standing as a key player in the country’s economic landscape.

Hermitage Overseas Corporation
Hermitage Overseas Corporation, an offshore investment entity controlled by Victor Odili, is central to his holdings in MTN Nigeria. This firm plays a strategic role in managing and consolidating his telecom investments, reinforcing his influence in Nigeria’s corporate landscape. Through Hermitage Overseas, Odili maintains a strong presence in the telecommunications sector while diversifying his broader business interests.

Hermitage Eko Investments Limited
Hermitage Eko Investments Limited, based in Lagos, is another key investment vehicle for Victor Odili. Established in 2014, it manages his strategic equity interests, particularly in MTN Nigeria. The firm plays a vital role in strengthening his presence in the telecom and financial sectors, contributing to his broader investment portfolio.

Delta Energy Limited
Delta Energy Limited is an emerging player in Nigeria’s oil and gas industry, with a focus on upstream exploration and midstream production. The company prioritizes sustainability and operational efficiency, forming strategic partnerships with global energy firms to boost its production capacity. By leveraging technology and responsible resource extraction, Delta Energy contributes to Nigeria’s evolving energy landscape.

Odili Estate Limited
Odili Estate Limited is a Nigerian real estate developer known for high-quality residential and commercial projects. The company has developed premium housing estates, modern office complexes, and stylish shopping centers that enhance urban landscapes. With a focus on superior construction, sustainable design, and state-of-the-art amenities, Odili Estate Limited attracts both local and international investors, playing a key role in Nigeria’s urban development and economic growth.

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Victor Odili Investments Limited
Victor Odili Investments Limited serves as the investment arm of Nigerian shipping tycoon Victor Odili, channeling his business expertise into a diversified portfolio. As chairman of Aeromaritime Group, Odili uses this vehicle to pursue high-growth opportunities in telecommunications and energy. His strategic investments not only drive business expansion but also create jobs and long-term value in Nigeria’s economy. His stake in MTN Nigeria is a prime example of his forward-thinking approach.

Odili Shipping Agency Limited
Under Victor Odili’s leadership, Odili Shipping Agency Limited has become a trusted name in shipping and logistics. A key part of Aeromaritime Group, the agency provides end-to-end cargo management, customs clearance, and documentation processing. Its expertise in supply chain management and regulatory compliance simplifies global trade for businesses engaged in import and export operations.

Delta Logistics Limited
Delta Logistics Limited, based in Lagos, is a leading supply chain management firm providing warehousing, transportation, and distribution services. The company utilizes advanced technology and strategic partnerships to optimize Nigeria’s logistics infrastructure. Serving industries such as retail, manufacturing, pharmaceuticals, and oil & gas, Delta Logistics enhances trade efficiency while minimizing transportation costs.

Odili Properties Limited
Odili Properties Limited is a prominent real estate company specializing in commercial and residential property development. Headquartered in Port Harcourt, the firm has built a reputation for delivering high-quality living and business spaces that contribute to urban transformation. With a keen eye for strategic investments and strong property management, Odili Properties Limited generates long-term value while complementing the broader business interests of the Odili family.

Victor Odili Foundation
The Victor Odili Foundation is dedicated to education, healthcare, and community development in Nigeria. Its initiatives include funding school construction, providing scholarships for underprivileged students, and equipping hospitals with essential medical supplies. The foundation plays a crucial role in fostering sustainable development, particularly in the Niger Delta region. Through these efforts, Victor Odili channels his business success into meaningful contributions that uplift communities and create lasting change.

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President Bola Tinubu’s assumption of office on May 29, 2023, came at a critical juncture in Nigeria’s history, characterised by many challenges.

His declaration, “Subsidy is gone,” has sparked significant backlash against his administration, particularly as his tough policies have led to increased hardship for many Nigerians.

Former Nigerian military leader Ibrahim Gbadamosi Babangida has provided a comprehensive analysis of President Bola Tinubu‘s administration. …CONTINUE READING.

Fresh prophecy reveals who wins 2027 election as Tinubu warned

Babangida, a man of immense power and wealth, Babangida ruled the country as military Head of State from 1985 to 1993, leaving behind a legacy of economic reforms, political controversies, and an empire of investments that continues to fuel speculation decades later.

His administration was marked by sweeping economic policies, including introducing the Structural Adjustment Program (SAP), which aimed to stabilize the economy through privatization, foreign investment, and currency devaluation.

According to BusinessDay report, IBB has urged Nigerians to exercise patience and resilience during this challenging period, emphasizing that the difficult decisions being made by Tinubu are necessary for the long-term economic advancement of the nation. Babangida believes that these measures, while tough in the short term, are crucial for positioning Nigeria competitively on the global economic stage.

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His insights reflect a hope that with perseverance, the country will ultimately reap the benefits of these strategic reforms.
The Nigerian people will reward that kind of strength, Babangida announced.

He acknowledged the challenges that Nigerians are experiencing as a result of the financial reforms currently being implemented, but he insisted that Tinubu’s policies would be validated by the long-term benefits. Pain does not last forever.

He said, “I have witnessed governments in the past making difficult decisions, and I am confident that Nigerians will see the results if patience is managed effectively.”
He emphasized that Tinubu’s ability to navigate complex political challenges has positioned him favorably for continued leadership, highlighting the significance of his past achievements and adaptability in the ever-changing political arena.

It is said that Tinubu is an expert in political survival. Despite the fact that he has been subjected to pressure, criticism, and enormous challenges, he continues to move forward.

Fresh prophecy reveals who wins 2027 election as Tinubu warned

A federal high court in Lagos has fixed April 15 for the hearing of the suit filed by Ecobank Plc against Obafemi Otudeko over 6.31 billion shares purchased by Barbican Capital Limited, an affiliate of Honeywell Group Limited, in First Bank of Nigeria (FBN) Holdings.

Obafemi Otudeko is the son of Oba Otudeko, former chairman of FBN Holdings.

Deinde Dipeolu, presiding judge, fixed the date follwing a filed motion ex-parte seeking to restrain Obafemi Otudeko, who is also managing director at Honeywell Group and others from taking any steps to amortise, dematerialise, compromise, sell, transfer or deal with the 6.314 billion shares.

The motion ex-parte marked FHC/L/CS/638/2025, was filed by Kunle Ogunba, a senior advocate of Nigeria (SAN) and lawyer to Ecobank.

Other defendants in the suit alongside Otudeko’s son are: Barbican Capital Limited; Honeywell Flour Mills Plc; Siloam Global Services Limited; Oyeleye Foluke, a director at Honeywell Group; FBN Holding Plc; Corporate Affairs Commission (CAC); and Nigerian Stock Exchange (NSE), now Nigerian Exchange.

The originating summons, filed by Ecobank, sought to determine whether Barbican Capital can validly purchase shares in FBN Holdings, even though Honeywell Group was a “judgement debtor” in a supreme court judgement between “Anchorage Leisures Limited & 2 Ors. -v- Ecobank Nigeria”.

Ecobank also asked the court to determine whether registration of the Barbican Capital by Honeywell Flour, which thereafter purchased 6.314 billion units of shares in the FBN Holdings “is a ploy to circumvent the Final Judgment of the Supreme Court in Appeal”.

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In the suit, Ecobank Plc, through Ogunba, asked the court for an interlocutory order restraining Obafemi Otudeko and other defendants from taking any steps to amortise, dematerialise, compromise, sell, or transfer the deal with the 6.314 billion collective aggregate shares of Barbican Capital in the FBN Holdings Plc, pending the hearing and final determination of the suit filed by EcoBank Nigeria Limited.

Ecobank sought an interlocutory order restraining all the defendants from “taking any steps to amortize, dematerialize, compromise, sell, transfer or otherwise turn to cash or any negotiable instrument of any sort the already dematerialized shares of Honeywell Flour Mills of Nigeria Plc, pledged to the Eco Bank Plc, in furtherance of the credit facility availed to the Honeywell Flour Mills of Nigeria Plc, to purchase the said shares pending the hearing and final determination of the suit”.

The lawyer added that the motion was supported with an affidavit of 38 paragraphs deposed to by Jafaru Kupa, a financial officer at Ecobank, and attached with a written address and some documentary exhibits.

Following the lawyer’s presentation, Dipeolu instructed the plaintiff to serve the motion for injunction on each defendant, requesting that they provide reasons why it should not be granted.

Consequently, Dipeolu adjourned the matter to April 15 for a hearing of the motion on notice.

DRAMA OVER MAJORITY SHAREHOLDER POSITION

In a notice on July 7, 2023, FBN Holdings said it received a notification also dated July 7, 2023, from Honeywell Group, that its affiliate, Barbican Capital, acquired 4,770,269,843 units of shares or 13.3 percent stake — indicating the return of Oba Otudeko to the financial institution he once chaired before he was sacked by the Central Bank of Nigeria (CBN) in April 2021.

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The acquisition resulted in Femi Otedola losing his spot as the largest investor in FBN Holdings, as his stake held in the company was around 5.57 percent.

Despite acknowledging Barbican Capital’s investment, in the 2023 third quarter financial statements, FBN Holdings retained Otedola as its majority investor, with Otudeko’s name and company missing from the list of shareholders with 5 percent and above stake.

The exclusion of Otudeko followed the controversy that surrounded Barbican Capital’s investment, as Ecobank warned FBN Holdings against accepting the acquisition by Otudeko over an alleged N13.5 billion debt.

CONTROVERSY OVER OTUDEKO’S ACQUISITION

In a letter dated July 7, 2023, Ecobank accused Oba Otudeko of “diverting his assets and that of the Honeywell Group of companies through the said Barbican Capital Limited, in order to frustrate the enforcement of the judgment of the supreme court against him”.

However, Otudeko said the supreme court did not award N13.5 billion judgment debt against him and asked FBN Holdings to disregard Ecobank’s request for it to reject his acquisition.

Also, according to a fact check by TheCable, although the supreme court determined that Otudeko’s companies owe Ecobank, it did not state any amount — indicating Ecobank’s claim that the apex court ruled that there is a N13.5 billion debt is incorrect.

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The acquisition also drew the attention of the Securities and Exchange Commission (SEC), as a top official of the regulator disclosed that Otudeko’s acquisition was under investigation.

This was followed by protest from some of FBN Holdings’ shareholders at the company’s headquarters, with placards reading: ‘Oba Otudeko, First Bank is not your property, and ‘First Bank is Greater than you, Otudeko’.

However, on February 1, 2024, TheCable reported that FBN Holdings has named Barbican Capital as its majority shareholder — ending months of uncertainty around the acquisition made in July 2023.

TheCable

The Nigeria Customs Service has taken a step towards modernising the country’s trade facilitation system with the issuance of its first Pre-Arrival Assessment Report under the newly introduced B’Odogwu system.

This milestone marks the beginning of a nationwide rollout of the B’Odogwu (Unified Customs Management System), a state-of-the-art technology designed to streamline Customs operations, enhance trade documentation efficiency, and foster greater inter-agency collaboration.

The Assistant Comptroller of Customs and National Public Relations Officer, Abdullah Maiwada, disclosed this in a statement signed on Friday for the Comptroller-General of Customs, Bashir Adeniyi.

The B’Odogwu system is set to replace the Nigeria Integrated Customs Information System (NICIS II) and will play a pivotal role in transforming how trade processes are managed in Nigeria.

According to the NCS, the successful issuance of the first PAAR under B’Odogwu signals the commencement of a more transparent, efficient, and seamless approach to trade facilitation.

The announcement follows the recent strategic engagement between the Comptroller-General of NCS, Adeniyi and the Governor of the Central Bank of Nigeria, Olayemi Cardoso.

Both institutions reaffirmed their commitment to improving trade processes, enhancing revenue collection, and boosting financial integration in Nigeria’s import and export systems.

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The B’Odogwu system is designed to simplify the complex customs process by automating and integrating various functions, significantly improving the turnaround time for trade-related documents. The initiative has been tested during a pilot phase at the Port and Terminal Multi-Services Limited (PTML) Customs Area Command, where it received positive feedback from stakeholders, including other government agencies involved in trade facilitation.

In the statement, the NCS noted that the launch of the B’Odogwu system would provide a more efficient, technology-driven Customs process for traders and the general public.

The statement read, “This achievement marks a significant milestone in the Service’s commitment to technology-driven trade reforms. We remain dedicated to ensuring that all necessary approvals and integrations with financial institutions, including Authorized Dealer Banks (ADBs), are completed to enable seamless foreign exchange transactions and trade-related payments.”

The Comptroller-General of Customs, Bashir Adeniyi, expressed his excitement about the system’s potential.

He said, “The B’Odogwu system is designed to modernize our operations and provide a seamless, transparent, and efficient trade facilitation platform. This technology will bring about a more streamlined process for the entire trading community, and we are committed to ensuring its success as we move toward nationwide adoption.”

The NCS also emphasised that the service is committed to supporting stakeholders and ensuring that the system is fully integrated with the financial and regulatory infrastructure necessary for seamless international trade. As part of the rollout, all stakeholders, including government agencies and the private sector, will be encouraged to embrace the new system to improve operational efficiency and reduce trade bottlenecks.

He also commented on the importance of the system. “We are excited about the B’Odogwu system’s potential to enhance Nigeria’s trade facilitation processes. It marks the beginning of a new chapter in Nigeria’s Customs operations, one that prioritizes technology, transparency, and collaboration.”

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The NCS also noted that the rollout would continue with additional training and awareness programs for stakeholders, ensuring that they are well-equipped to take full advantage of the new system.

The B’Odogwu system is set to become a cornerstone of Nigeria’s drive for improved trade facilitation, revenue generation, and the overall modernization of Customs operations. The success of this initiative will likely serve as a model for other regions seeking to enhance their trade systems through technology and innovation.

As the system is rolled out across the country, the Nigeria Customs Service is confident that B’Odogwu will lead to a more streamlined, transparent, and efficient trade process, which will ultimately benefit both businesses and the Nigerian economy as a whole.