The United States Coast Guard (USCG) has lifted a 12-year-old Condition of Entry (CoE) imposed on vessels arriving in the United States after calling at Nigerian ports, Minister of Marine and Blue Economy Adegboyega Oyetola has announced.

The development ends a regime of additional security requirements that had affected vessels operating between Nigeria and the United States since June 25, 2014.

Under the former arrangement, vessels heading to the US that had visited designated Nigerian ports within their previous five port calls were subjected to additional security measures and enhanced scrutiny before being allowed into American waters.

Oyetola said the decision followed significant improvements in Nigeria’s maritime security system and its implementation of the International Ship and Port Facility Security (ISPS) Code.

The minister credited the achievement to collaboration between the Federal Ministry of Marine and Blue Economy, Nigerian Maritime Administration and Safety Agency (NIMASA), government agencies, port and terminal operators, shipping companies and other stakeholders.

According to Oyetola, the US Coast Guard conducted four comprehensive assessments of Nigeria’s maritime security framework and port facilities between 2024 and 2026.

The assessments took place in March and April 2024, March 2025 and April 2026, with the findings showing improvements in Nigeria’s compliance with international maritime security standards.

The lifting of the restriction is expected to have implications beyond security compliance.

According to the minister, Nigerian ports could benefit from faster vessel turnaround times, improved shipping schedules and lower operational costs, as vessels will no longer face the additional requirements imposed specifically under the CoE.

The development could also make Nigerian ports more attractive to international shipping operators and potentially encourage greater shipping activity, trade and investment.

For more than a decade, the additional requirements had contributed to increased security and operational expenses for shipping companies, as well as extra inspections, documentation and delays.

Oyetola described the lifting of the restriction as an important milestone for Nigeria’s maritime sector and an indication that the country’s efforts to improve port security are yielding results.

He also commended NIMASA Director-General Dayo Mobereola and his team for their contribution to the process.

The minister said the Federal Government would continue working to maintain the progress made and position Nigeria as a safe, secure and competitive destination for international shipping.

The removal of the US restriction is therefore being seen as a significant development for Nigeria’s maritime industry, particularly as the country seeks to improve port efficiency and strengthen its role in international trade.

Dangote Petroleum Refinery has secured a $400 million underwriting commitment as preparations continue for its planned initial public offering (IPO), which could become one of Africa’s largest-ever stock market listings.

The underwriting commitment was announced by IPO advisers Marob Strategies and Consulting DIFC Ltd and Lilium Capital Group. It forms part of a broader $1 billion underwriting programme supporting the proposed offering.

The programme comprises a $600 million completed and funded private placement alongside the new $400 million underwriting commitment.

The refinery, owned by Nigerian billionaire Aliko Dangote, has submitted an application to Nigeria’s Securities and Exchange Commission (SEC) for a potential $5 billion IPO. However, the final size of the offering has not yet been determined and will depend on regulatory approval and market conditions.

According to the advisers, the $400 million underwriting facility will become effective when the IPO is launched, subject to prevailing market conditions and the necessary regulatory approvals.

The development represents another major step in the refinery’s plans to broaden its ownership base and raise additional capital for future growth.

The company has been preparing for a retail-focused Nigerian IPO, with management previously indicating that the offering is intended to give Nigerian investors an opportunity to participate directly in the refinery’s growth.

The proposed $5 billion offering has attracted considerable attention because of its potential scale.

Dangote Refinery is Africa’s largest refinery, with an initial refining capacity of about 650,000 barrels per day. The company has also set out plans to increase capacity to approximately 1.4 million barrels per day within three years, with the expansion expected to be financed partly through IPO proceeds and debt.

The refinery’s management has said preparations for the IPO are progressing, while investor interest has been strong during pre-marketing activities.

A $2.5 billion private placement in July reportedly valued the refinery at around $40 billion. The transaction was said to have been heavily oversubscribed, attracting interest from African and international institutional investors.

Dangote Refinery has also strengthened its position in international fuel markets amid disruptions linked to the conflict involving Iran.

The refinery has become a major supplier of aviation fuel to markets across Africa and Western Europe, with its management saying it became Europe’s largest supplier of jet fuel in June and July.

The company also benefits from its access to Nigeria’s crude oil resources, strong domestic fuel demand and its integrated refining operations.

Unlike plans for an immediate foreign listing, the company currently intends to focus its IPO on the Nigerian market.

Dangote Refinery’s CEO, David Bird, said the company wants the offering to encourage broad participation by Nigerians and create an opportunity for citizens to share in the refinery’s future growth.

A potential foreign listing could be considered later, after the company establishes a longer track record of production and financial performance.

With the new $400 million underwriting commitment and preparations for a potential $5 billion offering continuing, the Dangote Refinery IPO is shaping up to be a major development for Nigeria’s capital market and the country’s energy sector.

It was a celebration of life, legacy and family in Ilorin, Kwara State, as Chief John Femi Ogunrinde, the Olowa of Owarọ, Oko-Irese Land, marked his 80th birthday in grand style.

The celebration, held at M and M Event Center, Ilorin, attracted family members, friends, associates, prominent personalities, traditional rulers and well-wishers who gathered to honour the respected octogenarian and celebrate eight remarkable decades of his life.

The milestone birthday offered an opportunity to look beyond the number and celebrate the journey — the experiences, relationships, family values, service and impact that have defined Chief Ogunrinde’s life.

The event was hosted by veteran broadcaster and Master of Ceremonies, Alhaji Abdulfatai Adeniyi Dan Kazan, the founding president of the Freelance and Independent Broadcasters Association of Nigeria (FIBAN).

The celebration also witnessed an impressive gathering of royal fathers. Among the traditional rulers in attendance were the Oloko of Oko-Irese, the Oloro of Oro-Ago, the Alala of Ilala and the Onirore of Tore, alongside other distinguished monarchs and community leaders.

Their presence added a rich traditional and cultural dimension to the celebration and reflected the respect and goodwill enjoyed by Chief Ogunrinde.

Engineer JBO Adewumi, founder of Thomas Adewumi University and Chancellor of Kwara State University (KWASU), served as chairman of the occasion. He attended the event with his wife, Dr Gloria Adewumi.

One of the highlights of the celebration was the ceremonial cutting of the birthday cake, which was coordinated by Dr Gloria Adewumi. The celebrant, family members and distinguished guests joined in the ceremony, creating a memorable moment of joy and thanksgiving.

Beyond the music, tributes and festivities, the occasion offered the Ogunrinde family an opportunity to celebrate their patriarch and express gratitude for his life and the legacy he continues to build.

Friends, family members, associates and royal fathers shared prayers, goodwill messages and fond memories, celebrating Chief Ogunrinde’s contributions and the relationships he has built throughout his remarkable journey.

The impressive gathering was a fitting tribute to an 80-year milestone, bringing together different generations and communities to celebrate a life marked by family, relationships and enduring goodwill.

For Chief John Femi Ogunrinde and his family, the occasion was ultimately a celebration of life, legacy, family, community and impact.

As he begins another chapter, family, friends and well-wishers have wished the octogenarian continued good health, strength, peace, fulfilment and many more years of happiness.

Happy 80th birthday to Chief John Femi Ogunrinde, Olowa of Owarọ, Oko-Irese Land.