Mediterranean Shipping Company raised fees 60%, and importers threatened a shutdown
Consumers face higher prices as the Mediterranean Shipping Company implemented sharp increases in cargo charges from January 1, raising import documentation fees by 30 per cent and port additional charges by 60 per cent. The shipping giant increased fees for 20-foot containers from N45,000 to N58,500 for documentation and from N50,000 to N80,000 for port charges, whilst 40-foot container fees rose from N72,000 to N93,600 and from N100,000 to N160,000 respectively.
- Mediterranean Shipping Company raised fees 60%, and importers threatened a shutdown
- Dangote withdrew his ICPC petition against Farouk Ahmed, but the probe continues
- Ghana’s inflation fell to a four-year low as the cedi strengthened
- Togo, Niger and Benin owe Nigeria N25 billion for electricity
- GenCo invoices fell by N80.56 billion due to weak demand
The Association of Nigerian Licensed Customs Agents and the Importers Association of Nigeria have threatened port disruptions and petitioned President Bola Tinubu, arguing the increases lack justification given that fuel prices and foreign exchange rates have stabilised over the past 18 months. MSC scheduled a stakeholders meeting on 23 December but fixed it for Boxing Day when key industry players were unavailable, according to ANLCA’s western zone coordinator, Femi Anifowose. The increases follow a 15 per cent hike in Nigerian Ports Authority tariffs in March, with French shipping company CMA CGM also raising charges earlier. Industry experts warn Nigerian ports now cost approximately 55 per cent more than other West African facilities, up from an earlier estimated 40 per cent gap, contradicting government targets to reduce costs by 25 per cent and potentially diverting cargo to neighbouring countries.
Dangote withdrew his ICPC petition against Farouk Ahmed, but the probe continues
Aliko Dangote has withdrawn his corruption petition against former Nigerian Midstream and Downstream Petroleum Regulatory Authority chief executive Farouk Ahmed, but the Independent Corrupt Practices Commission says investigations will continue regardless. Dangote’s lawyer notified the anti-graft agency on 5 January that the petition filed on 16 December had been withdrawn in its entirety and that another law enforcement agency had taken over the matter.
ICPC spokesperson John Odey stated that investigations had already commenced under sections 3(14) and 27(3) of the commission’s enabling act and would proceed in the interest of transparency and accountability. The original petition alleged that Ahmed spent over $7 million on his four children’s education in Switzerland for six years upfront without a lawful source of income, and accused him of diverting public funds through his position at the regulatory authority. The dispute followed a public disagreement over petroleum importation policies, with Ahmed resigning in December shortly after Dangote’s petition. President Tinubu replaced the heads of both NMDPRA and the Nigerian Upstream Petroleum Regulatory Commission on 17 December. Ahmed has denied all allegations of wrongdoing.
Read Also: Dangote withdraws ICPC petition against Ahmed Farouk, but probe continues
Ghana’s inflation fell to a four-year low as the cedi strengthened
Ghana recorded inflation of 9.4 per cent in September 2025, the first single-digit reading in more than four years and the lowest since August 2021, driven by sharp currency appreciation and controlled food prices. The cedi’s strength against major currencies enabled the Bank of Ghana to cut interest rates by a cumulative 1,000 basis points between July and November, lowering the benchmark from 28 per cent to 18 per cent and settling inflation at the lower end of the central bank’s 6-10 per cent target range.
Ghana’s disinflation trend forms part of a wider pattern across sub-Saharan Africa, where nearly 60 per cent of countries recorded slower inflation than a year earlier, according to the World Bank. The number of economies with single-digit inflation rose from 27 in 2022 to 37 in 2025, with the region’s average inflation rate falling from a 2022 peak of 9.3 per cent to an estimated 4.5 per cent in 2024. The Bank of Ghana cut its benchmark rate by a further 350 basis points to 21.5 per cent in November, reflecting sustained disinflation and stronger external buffers. International Monetary Fund-supported reforms and tighter monetary policies across the continent, combined with favourable commodity prices and fiscal discipline, have helped moderate price pressures and create space for central banks to ease policy whilst boosting household purchasing power.
Togo, Niger and Benin owe Nigeria N25 billion for electricity
Three West African countries owe Nigeria N25.36 billion for electricity supplied through bilateral arrangements, according to the Nigerian Electricity Regulatory Commission. Togo, Niger, and Benin were invoiced $18.69 million by the Market Operator for power supplied in the third quarter of 2025 but remitted only $7.125 million, representing a 38.09 per cent remittance performance and leaving $11.56 million outstanding.
The international customers also carry legacy debts from previous quarters totalling $6.23 million after paying $7.84 million of $14.7 million owed, bringing combined arrears to $17.8 million. The electricity is generated by grid-connected Nigerian generation companies and delivered through cross-border power arrangements to Compagnie Énergie Électrique du Togo, Société Béninoise d’Énergie Électrique, and Société Nigérienne d’Électricité. Domestic bilateral customers performed significantly better during the same period, remitting N3.19 billion out of N3.64 billion invoiced, translating to an 87.61 per cent remittance rate. Nigeria’s 11 distribution companies achieved 95.21 per cent remittance performance to the Nigerian Bulk Electricity Trading Company and Market Operator in Q3, paying N381.29 billion of N400.48 billion billed.
GenCo invoices fell by N80.56 billion due to weak demand
Power generation companies’ total invoices declined by N80.56 billion in the third quarter of 2025 following a 6.08 per cent reduction in energy offtake by distribution companies, according to the Nigerian Electricity Regulatory Commission. GenCos billed N782.46 billion in Q3 compared with N863.02 billion in the previous quarter, with the reduced demand also lowering the Federal Government’s subsidy obligation from N514.35 billion to N458.75 billion.
NERC noted that the current open-ended subsidy regime exposes government to indeterminate obligations due to volumetric risks and variations in generation costs arising from changes in supply mix, with higher thermal generation typically increasing costs. Monthly subsidy obligations during the quarter stood at N163.7 billion in July, N153.32 billion in August, and N141.72 billion in September. Under the Distribution Companies Remittance Obligation framework, government covers the gap between cost-reflective and allowed tariffs by applying subsidies to generation costs payable by DisCos to the Nigerian Bulk Electricity Trading Company. The DRO-adjusted invoice from NBET to DisCos totalled N323.70 billion in Q3, with remittances reaching N308.25 billion for 95.23 per cent performance. All distribution companies except Kano, Benin, Jos, and Kaduna achieved full remittance, though experts warn that reduced offtake impacts generation companies whilst limiting energy available to consumers.
