Shipowners back FG’s bid to ban importation of foreign built vessels
Businessam StaffJuly 19, 2019
Ship owners and major stakeholders in the maritime industry have applauded the federal government’s plan to ban the importation of foreign built vessels into Nigeria, in its bid to promote ship-building in the country. The stakeholders described the move as the maritime industry’s boldest policy till date. The stakeholders stated this in reaction to the […]
New freight rate for port haulers will raise FDI, says Bello, CEO, Nigeria Shippers’ Council
Samson EchenimJuly 18, 2019
By Samson Echenim The certainty associated with having a benchmarked transportation cost will help investors make a more accurate decision in determining their transport cost element and the presence of this in Nigeria’s economic climate will encourage foreign investors into the country, Hassan Bello, executive secretary and CEO of Nigeria’s Shippers’ Council has said. Bello […]
Ali, Customs boss tasks FG on fiscal, monetary policies to curb smuggling
Samson EchenimJuly 17, 2019
By Samson Echenim Lack of the right fiscal and monetary policies is inducing smuggling across Nigerian borders, with about 200 customs officers being felled by smugglers bullets annually, Hameed Ali, director-general of Nigeria Customs Service has said. “The government needs to get its fiscal and monetary policies right. The cost of doing business […]
Switzerland to pay $14m to Nigeria over seized vessel
Samson EchenimJuly 17, 2019
The International Tribunal for the Law of the Sea (ITLOS) has prescribed that pending a decision by the Annex VII arbitral tribunal, “Switzerland shall post a bond or other financial security, in the amount of $14 million with Nigeria in the form of a bank guarantee,” to obtain release of an oil vessel, seized by […]
How Nigeria can optimise benefits of African continental free trade pact
Samson EchenimJuly 17, 2019
Experts are coming up with ideas and ways through which Nigeria can maximise the benefits of the new African Continental Free Trade Agreement (AfCFTA), amidst concerns that the country faces a bogus challenge to maintain her leadership of the region’s economy, writes SAMSON ECHENIM. RECENTLY, AT A SUMMIT in Niger, Nigeria joined other African […]
151,000 metric tons of goods exported through Tin Can port, as Customs earns N179.2bn
Samson EchenimJuly 14, 2019
By Samson Echenim The Nigerian Customs Service command at the Tin-Can Island Port in Lagos says the unit’s efforts towards facilitating and encouraging volume of goods exported through the port has yielded good results as a total of 150,930 metric tons of export with free on board (FOB) value of N68.88 billion were […]
Shippers’ Council sets new haulage rates to standardise transport charges in Nigeria
Samson EchenimJuly 10, 2019
Nigeria’s seaport economic regulator, the Nigerian Shippers’ Council has set new haulage rates for truckers from the country’s seaports. The NSC operates with a presidential declaration as the seaport economic regulator. The council says the decision is to have a comprehensive and standard haulage rates for road transportation services in the country. The council presented […]
Making a case for more women in maritime businesses
Samson EchenimJuly 3, 2019
Across the globe, cultural and legal inhibitions are keeping women off sea jobs. In this report, SAMSON ECHENIM writes on the growing need for gender equality onboard vessels. All over the world, participation of women in seafaring has remained unacceptably low, wobbling around one or two percent, with the weaker sex clinching only 25,000 of […]
Nigerian govt woos oil companies for multibillion naira investment in national fleet
Samson EchenimJuly 3, 2019
By Samson Echenim As shippers council plans $500m dry port in Ibadan The Nigerian government is in talks with operators in the country’s upstream oil sector for possible investment in its planned national shipping line. A top government official and chairman of committee on the re-establishment of a national shipping line, Hassan Bello told […]
NCDMB disburses $160m from Nigerian Content Intervention Fund
Businessam StaffJuly 2, 2019
The Nigerian Content Development and Monitoring Board on Monday revealed that it had so far disbursed $160m out of the $200m Nigerian Content Intervention Fund to oil companies for the development of modular refineries, and capacity building, among others. It also lambasted international oil companies operating in Nigeria for not appreciating the in-country capacities that […]