Business – Page 6 – Shipping World News Magazine

Oct192017 by Our EditorNo Comments

NPA-INTELS Pilotage Service Contract Does Not Violate Constitution, Says Importers Association

Amiwero: NPA has no right to terminate contract Maritime workers fell FG to resolve face-off now Termination of contract will impact negatively on revenue, efficiency at Onne port The Nigerian Importers Integrity Association (NIIA) has weighed in on the controversy trailing the termination of the pilotage service agreement signed between oil and gas logistics giant, INTELS Nigeria Limited and the Nigerian Ports Authority (NPA) arguing that the contract is legal, constitutional and similar to the joint venture agreements signed by the Nigerian National Petroleum Corporation (NNPC) with the International Oil Companies (IOCs). NIIA President, Godwin Onyekazi, also said that termination of the contract will impact negatively on government revenue and on efficiency at Onne Port. “Si...

Oct192017 by Our EditorNo Comments

Erring Banks, Firms Return N140bn over Customs Revenue Fraud, Says Senate Committee

Business, Law, Port News

The Chairman, Senate Joint Committee on Customs, Excise and Tariff and Marine Transport, Senator Hope Uzodimma Wednesday said that erring banks and firms who were involved in the revenue leakages in the Nigeria Customs Service (NCS) over the years have returned N140bn. The Senate Committee which raised the allegation of trillions of Naira fraud in customs revenue involving banks and firms in the ports is also investigating the matter. Uzodinma while giving an interim report said the money had been paid to the Central Bank by the erring banks and firms through remittances. He disclosed that the Senate has also granted 8-week extension to the committee. He said, “As a result of this exercise, some collection banks have made additional remittances to the Central Bank of Nigeria (CBN), t...

Oct192017 by Our EditorNo Comments

House Members Want NPA-INTELS Pilotage Monitoring Imbroglio Probed

Business, Politics, Port News

Members of the House of Representatives Wednesday called for a probe of the current face-off between the Nigerian Ports Authority (NPA) and Intels Nigeria Limited leading to the termination of the Pilotage Monitoring Agreement with the oil and gas giant. A motion for the investigation of the matter was moved by Diri Douye (PDP, Bayelsa) who drew the attention of the House that the matter was of urgent national importance. Douye had told the House that the probe had become necessary since Intels had carried out logistics operatrions in Apapa, Onne and Warri ports for 17 years, adding that it was surprising that its contract on pilotage monitoring agreement could be terminated considering that the contract runs for 25 years. Besides, he argued that the termination could lead to mass sack ...

Oct192017 by Our EditorNo Comments

Transport Minister Frowns at Increase on Port Charges by NPA, Shipping Companies

Business, Port News

The recent decision by the management of the Nigerian Ports Authority (NPA) to increase its port charges may not have gone down well with the Minister of Transport, Hon. Rotimi Amaechi. A source close to the Ministry of Transport told SHIPPING DAY that the Ministry is particularly concerned that the increase has led to a similar increase on port charges by some shipping companies. It was gathered that the Minister was informed by officials that the increase was done by NPA without notifying the Nigerian Shippers’ Council (NSC) as the Ports Economic Regulator. Our source said that the Council had drawn the attention of the Ministry to the decision of the NPA, expressing worry that the review had prompted some shipping companies to also raise their tariff. According to the source, the Cou...

Oct182017 by Our EditorNo Comments

Stakeholders raise alarm over NPA’s 2017 Budget

Business, Port News

Discordant tunes have greeted the over N270b budget of the Nigerian Ports Authority approved by the Senate last week. Maritime Stakeholders have raised questions about the justification over the expenditures which they want the NPA management to provide answers to. In the budget approved by the upper house last week, the total receipts for the agency in 2017 was given as about N280b as against an expenditure estimate of N270b . Asked a stakeholder who sought anonymity . ' Is NPA telling telling us they have just a N10b ' change' left for the Federal Coffers after spending all they would realise this year? Why would NASS approve such a budget ? This is unthinkable and we must get to the bottom of this' he argued. Speaking on the NPA budget , Dr Eugene Nweke , said he was not impressed...

Oct172017 by Our EditorNo Comments

SIFAX Group Wins West Africa’s Innovative Shipping Award

Business, Politics, Port News

SIFAX Group has won an award at the just concluded 7th edition of the Nigeria Brand Awards. The Group is a multinational corporation with diverse interests in maritime, aviation, haulage and logistics, oil and gas and hospitality, The award is an annual event designed to reward deserving brands that have shown diligence, innovation and excellence in different business areas. SIFAX Group was awarded the ‘Most Innovative and Impactful Shipping and Cargo Company in West Africa’ in recognition of its customer-centric focus, innovation and excellent service delivery in the maritime industry. General Manager, SIFAX Off-Dock Nigeria Limited, Mr. Oliver Omajuwa, who spoke shortly after receiving the award on behalf of the Group, said the award is a validation of the hard work, creativ...

Oct172017 by Our EditorNo Comments

More trouble for Intels as FIRS accuses company of tax default

Business, Port News

One week after the Integrated Logistics Services (Intels) made the headlines over the termination of its pilotage agreement with the Nigerian Port Authority (NPA), the company is in the news again. This time around, the Federal Inland Revenue Service (FIRS) has accused the organisation co-founded by former Vice-President Atiku Abubakar and Gabriele Volpi, an Italian national, of not paying taxes. On Monday, FIRS officials pasted a non-compliance sticker on the headquarters of the company in Onne, Rivers state. The action led to reports that the company had been sealed but an official of the tax agency told TheCable that such stickers are pasted on companies which have not been complying with tax obligations. “FIRS did not carry out any enforcement on Intels. Our team only paste...

Oct172017 by Our EditorNo Comments

Nigeria, Ghana sign MOU on piracy and terrorism

Business, Politics, Port News

THE Nigerian Maritime Administration and Safety Agency (NIMASA) and the Ghana Maritime Authority (GMA) on Monday signed a Memorandum of Understanding (MOU) to jointly combat the menace of piracy and terrorism in the West African waterways. Addressing newsmen in Lagos after the signing ceremony, the Director General of NIMASA, Dakuku Peterside, explained that the MOU with Ghana is based on five cardinal focus to further strengthen ties between both countries in the West African sub-region. According to Peterside, “The MOU between NIMASA and the GMA will focus on the following areas: Knowledge transfer and sharing; Capacity building initiative; Cabotage enforcement joint study initiative; Comparative research initiative; and Joint efforts to combat piracy and terrorism. “These are t...

Oct172017 by Our EditorNo Comments

Poor Ship Financing: Nigeria May Lose Out From Africa’s $2.7trn Freight Earnings

Business, Misc, Politics

By YUSUF BABALOLA, Lagos Unless Nigeria’s shipping sector is resuscitated or over $100 million in the Cabotage Vessel Finance Fund (CVFF) is disbursed to ship owners who met the requirements, the country may lose out from the $2.7 trillion freight earnings, which is anticipated from Africa by the year 2020. According to report, about $2.7trillion freight earning is expected to come from Africa, with Nigeria ship owners not positioned to maximise the huge freight earning. The leading cause of losing out of the freight earnings is poor ship finance, which has led to inability of Nigerian ship owners to acquire vessels. Also, inability of ship owners to access the Cabotage Vessels Financing Fund (CVFF), a special fund set aside to aid indigenous ship owners has affected their busi...

Oct152017 by Our EditorNo Comments

El-Rufai Behind Termination of Atiku’s Intel Contract With NPA – Sugar

Business, Misc, Politics, Port News

A political associate of Atiku, Alhaji Muhammadu Abdullahi Sugar, has alleged that Governor Nasiru El-Rufai of Kaduna State is using the Nigerian Ports Authority (NPA) to fight former Vice President, Atiku Abubakar. Reacting to the news of the termination of Atiku’s Intels Nigeria Limited’s Boats Pilotage Monitoring and Supervision agreement entered with NPA, Sugar said the action was the “handiwork” of El-Rufai. He said the Kaduna governor used the NPA boss, Hadiza Bala Usman, to get at Atiku. There was no immediate response from El-Rufai’s spokesman, Samuel Aruwan. Sugar, in a phone interview with DailyTrust on Sunday said President Muhammadu Buhari might not be aware of the development, saying, “Intels is a legitimate company doing legitimate business based on agreement with...