MARITIME TRADE & SHIPPING
HORMUZ REOPENS: Iran Clears All Commercial Vessels Through World’s Most Critical Oil Strait After Months of War-Induced Shutdown
HORMUZ REOPENS: Iran Clears All Commercial Vessels Through World’s Most Critical Oil Strait After Months of War-Induced Shutdown
Relief for global shipping as Tehran restores access through strategic choke-point — but with conditions
By Oghenewoke Onoriode, Waterways News Reporter | April 18, 2026
The Strait of Hormuz — the narrow waterway through which nearly a fifth of the world’s oil supply passes — has been reopened to commercial shipping after being effectively shut down to all merchant traffic since late February, following months of hostilities in the US-Iran war.
The resumption of maritime traffic through the strategic chokepoint, confirmed by Reuters, marks a significant turning point for global shipping, which had suffered severe disruption due to attacks, mines, and other threats in the region. Freight volumes in the area had plummeted as shipowners diverted vessels and insurers hiked war risk premiums to punitive levels.
The reopening follows the announcement of a 10-day ceasefire between Israel and Hezbollah in Lebanon. Iranian Foreign Minister Abbas Araqchi confirmed that the strait would remain open for the duration of the truce, providing a narrow but welcome window for commercial operators seeking to resume operations through the waterway.
However, Tehran has laid out strict conditions for passage. Navigation will be restricted to lanes designated as safe by Iranian authorities, and all vessels must first obtain authorisation from both the Iranian Ports and Maritime Organisation and the Islamic Revolutionary Guard Corps (IRGC), with passage coordinated directly through the IRGC.
In a notable concession, Iranian officials confirmed that American-registered commercial vessels will also be permitted to transit the strait, with the only exclusion being military ships of any nationality.
For Nigerian shipowners, freight forwarders, and commodity traders — particularly those with interests in petroleum product imports and crude oil exports routed through Gulf markets — the development carries significant implications. Any sustained reopening of Hormuz eases pressure on alternative supply chains that had driven up cargo costs and delivery timelines for Nigerian operators over recent months.
The shipping industry and its associations are closely tracking developments as the ceasefire holds, aware that the situation remains fragile and subject to rapid change.
Waterways News will continue to monitor and report on this developing story.
Lekki Deep Sea Port Races Towards Capacity Limit as Phase 2 Expansion Plans Take Shape
Governor Sanwo-Olu signals imminent commencement of next development phase; port MD cites AfCFTA opportunity as expansion rationale
By Okeoghene Onoriobe, Lagos Correspondent | Waterways News | June 12, 2026
Less than five years after receiving its first vessel, the Lekki Deep Sea Port is approaching the ceiling of its installed capacity — a development that Lagos State Governor Babajide Sanwo-Olu described as a testament to the facility’s commercial success, even as it signals an urgent need for further infrastructure investment.
Speaking at the Invest Lagos Summit 3.0, held on Tuesday, June 9, 2026, at Eko Hotels and Suites, Victoria Island, Governor Sanwo-Olu announced that construction work on the port’s Phase 2 development will commence in the near term, positioning Lagos to retain its competitive edge as West Africa’s dominant maritime and logistics hub.
“Within five years, it is moving to Phase 2 because it is almost reaching the full potential of its installed capacity,” the Governor declared, framing the development not merely as aspiration but as an already-funded and progressing project.
AfCFTA Drives Expansion Logic
The Governor situated the Phase 2 push squarely within the continental trade architecture unlocked by the African Continental Free Trade Area (AfCFTA), which has created a single market of more than 1.4 billion people with a combined GDP exceeding $3 trillion.
For the Lekki Port management and Lagos State alike, AfCFTA is not abstract policy — it is live commercial pressure. Cargo volumes moving through the Lekki corridor have grown rapidly since the port commenced operations, and its strategic location outside the congestion corridors of Lagos Island positions it as a natural gateway for goods transiting into the Nigerian hinterland and beyond into the landlocked economies of West and Central Africa.
Port MD Endorses Investment Climate
Wang Qiang, Managing Director of Lekki Port, used the Invest Lagos Summit to commend the Lagos State Government’s policy consistency, citing what he described as a stable and forward-looking environment for long-term maritime investment.
He outlined that the Phase 2 expansion would focus on widening the port’s cargo-handling capacity, improving logistics efficiency along the Lekki corridor, and drawing additional global shipping lines and logistics operators into the facility. The expansion, he added, would reinforce Lekki Port’s standing as a premier West African trade gateway under the AfCFTA framework.
What Phase 2 Means for the Sector
For Nigerian port operators, freight forwarders, terminal concessionaires, and shipowners, the Phase 2 announcement carries significant commercial implications. Lekki’s rapid approach to full installed capacity — if not addressed — risks replicating the congestion dynamics that have long afflicted Apapa and Tin Can Island, undermining the port’s core value proposition as a modern, efficient deep-sea alternative.
Timely Phase 2 construction would expand berth availability, deepen draught access for ultra-large container vessels, and reduce pre-berthing waiting times — factors that directly determine shipping line rotation decisions and freight rate competitiveness.
NIGERIA WATCH
The Lekki Phase 2 announcement, if backed by firm timelines and financial close in the near term, could reshape the competitive dynamics of Nigerian port development. Several deep-sea port projects — including the proposed Ibom Deep Sea Port in Akwa Ibom State and the long-discussed Badagry and Olokola facilities — are still at feasibility or pre-construction stages. Lekki’s ability to fast-track a Phase 2 expansion, building on existing investor confidence, Chinese development finance relationships, and operational momentum, gives it a structural advantage over greenfield contenders.
The National Ports Authority (NPA) and the Federal Ministry of Marine and Blue Economy will need to align on concession framework adjustments that accommodate Phase 2, including land allocation, access road infrastructure, and potential rail connectivity to the Lekki Free Trade Zone. NIMASA’s role in ensuring that expanded port capacity also translates into cabotage fleet utilisation and Nigerian seafarer employment will equally come under scrutiny as the expansion progresses.
The broader question for policymakers is whether Lekki’s success can be replicated as a model — or whether it remains an isolated enclave of port competitiveness in an otherwise fragmented national port system.
Waterways News | Your authoritative voice on Nigeria’s maritime, ports, and blue economy sector | www.waterwaysnews.ng
Blue Economy
FG Unlocks $1bn AfCFTA Credit Window for Nigerian Exporters, Maritime Sector Eyes Freight and Logistics Gains
FG Unlocks $1bn AfCFTA Credit Window for Nigerian Exporters, Maritime Sector Eyes Freight and Logistics Gains
By Okeoghene Onoriobe | Waterways News
LAGOS — The Federal Government has approved a $1 billion credit facility under the African Continental Free Trade Area framework, targeting Nigerian exporters and businesses seeking to scale production, improve competitiveness and deepen participation in the continental market — a development that maritime operators, freight forwarders and port logistics providers say could translate into significant new cargo volumes through Nigerian ports.
The facility, designated the AfCFTA Adjustment Fund Credit Facility, is structured to bridge the financing gap that has long constrained Nigerian exporters from fully exploiting the single African market. It carries a minimum financing threshold of $10 million per transaction, making it primarily accessible to large-scale businesses with bankable export propositions.
Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, announced the initiative on Tuesday at the second quarter 2026 meeting of the AfCFTA Central Coordination Committee in Abuja. She described the facility as a pivotal opportunity for businesses looking to modernise production lines, expand capacity and increase their penetration of African markets.
“The Federal Government has reaffirmed its commitment to accelerating Nigeria’s export-led growth agenda under the African Continental Free Trade Area, unveiling opportunities for businesses to access a US$1 billion AfCFTA Adjustment Fund Credit Facility aimed at boosting production, competitiveness, and intra-African trade,” a statement from the Ministry quoted the minister as saying.
Documentation, Standards Compliance Cited as Persistent Bottlenecks
Oduwole acknowledged that despite measurable progress in AfCFTA implementation, many Nigerian businesses remained hampered by operational constraints that limited their export readiness. She identified documentation backlogs, certification requirements, standards compliance and market access barriers as recurring obstacles.
The Federal Government, she said, was addressing these challenges through enhanced trade facilitation, simplified AfCFTA guidance tools, and intensified collaboration with the Nigeria Customs Service and the Nigerian Export Promotion Council — agencies whose port-facing operations directly affect cargo clearance timelines at Nigerian seaports.
The minister also pressed for the domestication of key AfCFTA protocols, especially the Digital Trade Protocol, which she said was essential to positioning Nigeria as a front-runner in Africa’s expanding digital commerce space.
On the logistics side, Oduwole noted that the expansion of Nigeria’s Air Cargo Corridor Initiative to Rwanda, deepened engagement with development partners and private sector actors, and intensified outreach to state governments were helping to broaden participation in the continental market.
Pilot Group of Nigerian Companies Being Assembled
Mrs. Patience Okala, National Coordinator and CEO of the Nigeria AfCFTA Coordination Office, provided operational details of the financing arrangement. She confirmed that the Coordination Office was working directly with fund managers to facilitate access for eligible Nigerian companies and had already begun assembling a pilot cohort of businesses to ensure Nigeria derives maximum benefit from the facility.
Nigeria Watch
For the maritime and blue economy sector, the approval of a $1 billion AfCFTA export credit facility is a structural demand signal that should not be overlooked.
Nigeria’s seaports — particularly the Apapa and Tin Can Island complexes — remain the primary gateways for export cargo. Any sustained expansion of Nigerian manufacturing and agro-processing output for intra-African markets will necessarily generate increased outbound containerised freight, bulk and break-bulk cargo, and demand for specialised export logistics services.
For freight forwarders, shipping agents and terminal operators, this development is a forward indicator worth tracking. Businesses that have long complained about low export throughput at Nigerian terminals relative to import volumes now have a policy instrument that, if effectively deployed, could begin to rebalance that equation.
The NPA and NIMASA will need to be proactive. If the $1 billion facility mobilises a new cohort of large exporters, the port system must be prepared to handle the documentation, certification and cargo handling requirements that accompany scaled export operations. Delays at the export gate have historically been as damaging to Nigeria’s trade competitiveness as import congestion.
The mention of the Nigeria Customs Service as a key collaborating agency is significant. NCS’s role in AfCFTA Certificate of Origin issuance — a prerequisite for goods to access preferential tariff treatment under the continental agreement — places the Service at the nerve centre of any successful export drive. Ensuring that Certificate of Origin processing does not become a new bottleneck will be critical.
Inland waterway operators should also take note. As export volumes from agricultural zones in the Niger Delta, South-South and South-East grow, efficient feeder connectivity between production hinterlands and port terminals will matter. NIWA and state waterway authorities have an opening here to position waterborne logistics as a cost-competitive last-mile solution for export cargo aggregation.
— Waterways News
Blue Economy
Afolabi Urges FG to Rescue Eastern Ports, Warns Tin Can Congestion Threatening Port Efficiency
Afolabi Urges FG to Rescue Eastern Ports, Warns Tin Can Congestion Threatening Port Efficiency
By Okeoghene Onoriobe | Waterways News Reporter
The Chairman of SIFAX Group, Dr. Taiwo Afolabi, has thrown his weight behind the urgent rehabilitation and capacity development of Nigeria’s eastern ports, warning that the Federal Government’s prolonged neglect of those facilities is placing unbearable strain on the Lagos port complex and undermining the country’s overall maritime competitiveness.
Afolabi made the call during a high-level courtesy visit by Dr. Akutah Pius Ukeyima, Executive Secretary and Chief Executive Officer of the Nigerian Shippers’ Council (NSC), to SIFAX Group’s corporate headquarters in Lagos.
Dr Taiwo Afolabi, Chairman SIFAX Group
Speaking frankly on the state of Nigeria’s port infrastructure, the maritime industry leader said years of federal inattention to eastern port assets have taken a measurable toll on cargo throughput efficiency across the country.
“My passionate appeal to the government is to extend the port modernisation initiative to the eastern ports. Economic activities at the ports are on the increase year on year,” Afolabi said, stressing that the bulk of that growth is being absorbed almost entirely by the Lagos ports — facilities that were never designed to carry such volumes.
He warned that the resultant pressure has pushed terminal infrastructure to breaking point, with congestion now routinely disrupting cargo flow and hiking costs for importers, exporters and logistics operators alike.
Afolabi was particularly pointed in his assessment of the Tin Can Island Port corridor, describing the gridlock along that axis as a recurring financial burden on businesses, a source of deep frustration for transporters, and a persistent drag on the wider economy.
To ease the crisis, he called on the Federal Government to invest in dredging operations at the Warri, Onne and Calabar ports, enabling larger vessels to safely berth at those facilities and divert traffic away from the already overstretched Lagos port system.
“This is the time for the government to resuscitate those ports in the eastern part of Nigeria. Government needs to dredge the Warri, Onne and Calabar ports so that large vessels can berth there safely and reduce the pressure on the Lagos ports,” he stated.
On his part, NSC’s Ukeyima praised the contributions of SIFAX Group to Nigeria’s maritime economy, describing the conglomerate as one of the country’s foremost maritime investors that has leveraged the industry’s value chain to drive significant national economic growth. He pledged that the Shippers’ Council would deepen its collaboration with SIFAX in the interest of advancing the sector.
NIGERIA WATCH: Tracking this story across government ministries, departments and agencies
Federal Ministry of Marine & Blue Economy — As the supervising ministry for Nigeria’s ports and waterways, the ministry bears direct responsibility for driving the port modernisation agenda that Afolabi says must be extended to eastern port locations including Warri, Onne and Calabar.
Nigerian Ports Authority (NPA) — The NPA is the primary agency responsible for port infrastructure, channel maintenance and berth allocation across all Nigerian ports. Afolabi’s call for dredging at the eastern ports falls squarely within the NPA’s operational mandate.
Nigerian Shippers’ Council (NSC) — Already engaged through the visit of its Executive Secretary Dr. Ukeyima, the NSC has a statutory role in protecting the commercial interests of cargo owners and ensuring port efficiency. The congestion crisis at Tin Can Island Port is a direct concern for the agency.
Nigerian Maritime Administration and Safety Agency (NIMASA) — As the regulatory body for maritime safety and shipping, NIMASA has oversight interest in ensuring that port channels — particularly at Warri, Onne and Calabar — are navigable and safe for deep-draught vessels.
Federal Ministry of Works — The chronic gridlock on the Tin Can Island Port access corridor is partly a road infrastructure problem. The ministry’s intervention is needed to complement any port-side decongestion efforts.
Federal Ministry of Finance / Budget & Economic Planning — Capital allocation for dredging operations and eastern port rehabilitation will require budgetary provisions. These ministries must prioritise funding for the port modernisation programme to extend beyond Lagos.
Infrastructure Concession Regulatory Commission (ICRC) — Any concession or private sector partnership arrangement for rehabilitating the eastern ports will require ICRC oversight and approval under Nigeria’s public-private partnership framework
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