Market News

By Godwin Oritse

The Shipping Association of Nigeria (SAN) has said that improved stability of the naira in 2025 pop pohas significantly energised commercial activities across the country’s maritime and logistics corridors, translating into more predictable operations for the shipping industry and its stakeholders.

Speaking to Newsmen weekend, Chairman of the association, Boma Alabi, Senior Advocate of Nigeria, SAN, said that there was an improved activities in the sector in 2025 compared to 2024.

Alabi also said that the economy is beginning to pick up adding that the economy is still in woods but as such a lot more has still needs to be done to further improve the economy.

He said:”So 2025 has been a better year than 2024 in terms of trade volumes . We have seen an increase in volume of trade in goods coming in and going out. Which shows stability of the currency and other factors.

“The economy is improving. Obviously, we are coming from a very long road. Although there is still room for improvement , we still have a long way to go.

“What are challenges we faced in the past year, by general observation of the number of vessels that are calling into our ports and also leaving our ports, we have seen an increase of about 40-50 percent in trade for 2025.”

Reacting to the development, former Executive Secretary of the Nigerian Shippers Council, NSC, Hassan Bello said that the Nigerian shipping industry is responding to the international nature of shipping because shipping itself in international.

Bello also said that the trend is not only happening in Nigeria adding that the stable Naira could be attributed for the development.