Business – Page 2 – Shipping World News Magazine

Jan82018 by Asu BeksNo Comments

FOU Zone “A” Nets N5.9 billion in 2017…179 Arrested for Smuggling

The Federal Operations Unit (FOU) Zone "A" Ikeja of the Nigeria Customs Service, NCS, made the highest revenue ever in its anti-smuggling operations by generating N5.9 billion in 2017, despite the harsh economic environment. This figure included the sum of N1.9 billion from duty payments and demand notices on general goods at seaports, airports and bordet stations in the South West of Nigeria. Most importers and customs agents often try to short- change the Federal Government through wrong classification of goods, transfer of value and other deliberate schemes to evade duty payment. During the year under review, the unit made a total of 1046 seizures and 179 suspects arrested for smuggling parboiled rice, frozen poultry products, vegetable oil, Indian hemp, arms and fake pharmaceutic...

Jan52018 by Asu BeksNo Comments

Nigeria Customs Service: How We Hit the Hit Trillion Naira Mark

Breaking News, Business, Port News

The Nigeria Customs Service says it generated the sum of one trillion naira in revenue as against the target of N770, 573, 730, 490 due to measures put in place by the Col. Hammed Ali management. At a breakfast meeting with maritime journalists in Lagos, the National Public Relations Officer, DC Joseph Attah, stated that, although analysts have concluded that the revenue generated for 2017 was inferior to the figure for 2014, they were not conversant with the following economic indices. For instance, in 2014 experienced with 41 items removed from accessing forex. Rice, which raked in N56.8 bullion could not even contribute up to half a billion in 2017. Besides, the volume of imports declined considerably owing to government policy such that in 2014, the duties collected were N122bn, ...

Jan22018 by Asu BeksNo Comments

Buhari to commission Kaduna dry port on Thursday

Breaking News, Business

President Muhammadu Buhari will on Thursday commission the Kaduna Inland Dry Port in Kakuri, Kaduna. A statement signed by the Director, Special Duties of the Nigerian Shippers Council (NSC), Ignatius Nweke, said the port which is among the seven dry ports being promoted by the Council was built by Kaduna Inland Dry Port Limited and has the capacity to handle 29,000 tonnes of cargoes yearly at the first phase of operation and likely to double when fully completed. “The Kaduna Dry Port, which is the first of its kind in Nigeria would receive cargo from Apapa Port in Lagos, through the railway or by road and also export goods through the same channel,” Nweke said. According to him, the establishment of inland container depots in the hinterland was informed by the need to reduce the...

Jan12018 by Our EditorNo Comments

NIMASA: A revolving door no godfather can shut

Business, Misc

By Pius Mordi In its 30-year history since the National Shipping Policy Decree 10 of 1987 set up the National Maritime Authority, over 12 substantive directors general have been appointed to head the agency that in August 2007 became the Nigerian Maritime Administration and Safety Agency (NIMASA). Within the period, about four people had run the agency in acting capacity. Invariably, at less than 30 months actual time spent in office, it enjoys the unenviable reputation of having the highest turnover of chief executives among all agencies of the federal government. A common feature of the parastatal is that the number of its substantive directors general is directly proportional with the number of ministers of transport appointed over the period. Every new minister of transport always s...

Dec312017 by Asu BeksNo Comments

Celebrating Failure?

Business, Opinion

You were appointed to change the fortunes of NIMASA by President Muhammadu Buhari in May 2016, having lost the Governorship Election in Rivers State to Mr Project. Rather than do the job for which you were appointed, you decided to embark on a global jamboree unprecedented in the history of any government CEO. As at the last count you have made no fewer than 50 foreign trips in your 18 months in office. Put that in financial context ,and we should be talking about millions of dollars of tax payers money in estacodes, flight tickets and other incidentals. Is that how you would have governed Rivers State if you had been elected Governor? You lost IMO Council seat as a sitting AMAA Chair after an over N300m expenditure by the Nigerian delegation. You also in May this year blew N500m in ...

Dec262017 by Our EditorNo Comments

NIMASA set to release maritime industry forecast by first quarter 2018 – Dakuku Peterside

Breaking News, Business, Maritime, Press Release

As part of the initiative to reposition the maritime sector for greater efficiency in line with International best practices, the Nigerian Maritime Administration and Safety Agency (NIMASA) will release the empirical forecast that will determine the outlook of the industry in Nigeria by the first quarter of 2018. The Director General of NIMASA Dr. Dakuku Peterside who disclosed this in Lagos recently further stated that the Nigeria forecast will deal with how developments on the international scene will affect the industry in Nigeria, which will also serve as a guide for investors and Stakeholders in the maritime sector. Dr. Peterside noted that the forecast will be released from a holistic perspective in order to know areas of advantage that will be of immense benefit to Stakeholder...

Dec212017 by Our EditorNo Comments

Customs Records Highest Revenue, Hits N1.1 Trillion In 2017

Breaking News, Business

The Nigeria Customs Service (NCS) has surpassed itself by recording a revenue of one Trillion, one hundred billion naira, barely nine days to the end of the year. This spectacular performance in revenue collection this year is above the figure for 2016 to the tune of N241, 685, 276, 289.74 At a media parley in Abuja, the nation's capital, the National Public Relations Officer of the Service, DC Joseph Attah, said despite the economic recession, with low volume of imports and restriction placed on 41 items from accessing forex, the Comptroller-General of Customs, Col. Hameed Ali (rtd) undertook some strategic measures which led to the historic revenue figure. The CGCs innovative measures include the redeployment of officers and men, the retraining of Customs Intelligence Unit, maximisi...

Dec172017 by Our EditorNo Comments

Research is a catalyst for development – Dakuku

Breaking News, Business, Maritime, News Feature

The Director General of the Nigerian Maritime Administration and Safety Agency, (NIMASA) Dr. Dakuku Peterside has stated that the Agency is ready to partner with the Defence Research and Development Bureau for the growth of the Nigerian maritime sector adding that research is a catalyst to attain sustainable development. Dr Peterside who stated this when the Director General of the Defence Research and Development Bureau, Air Vice Marshall (AVM) Jomo Osahor led his team on a courtesy visit to NIMASA in Lagos noted that what makes a great organization is the ability to initiate new processes based on detailed research, which will in turn guarantee sustainable growth with a positive multiplier effect on the nation. Speaking further, the NIMASA DG reemphasized the need to develop indigenous...

Dec172017 by Our EditorNo Comments

565 NPA Staffers honoured for long service, merit, gallantry

Business, Maritime

A total of 565 staffers of the Nigerian Ports Authority (NPA) were honoured by management for long service, merit and bravery at a colourful ceremony held at the NPA sports ground, Bode Thomas, Surulere, Lagos, at the weekend. Most of the awardees had served the organisation for 25 years and above; seven staffers received merit awards while special recognition went to fire officers, pilots and engineers. In her address at the occasion, NPA Managing Director, Hadiza Bala Usman commended the workforce for their cooperation, understanding and sacrifices and for helping management attain her goals in 2017. She noted that her open door policy in the organisation was deliberate and intended to enable her achieve the "important task of repositioning port operations in Nigeria for bette...

Dec152017 by Asu BeksNo Comments

How half-baked administrators are killing the maritime industry

Business, Opinion

The maritime industry in Nigeria contributes about 90% by volume of the goods that come into the country and by value, it is the third largest contributor to our nation's coffers after the Nigerian National Petroleum Corporation and the Nigeria Customs Service. Since the early 70s, government has invested heavily in marine infrastructure in the sector to bring about port efficiency and high productivity. At a point in our nation's history, there was need to build a brand new port and government set about building the Tin Can Island Port in 1977 to take care of the cement armada of the late 70s. The agencies in the sector which are funded by government include the NPA, the Nigerian Shippers Council, the Nigerian Maritime Administration & Safety Agency and the National Inland Waterway...