October 2017 – Page 6 – Shipping World News Magazine

Oct172017 by Our EditorNo Comments

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

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...

Oct172017 by Our EditorNo Comments

IYC cautions NIMASA against demotion, intimidation, sack of Niger Delta indigenes

Politics

The Ijaw Youth Council (IYC) yesterday cautioned against the continuous persecution, discrimination, as well as sack and demotion threats of employees of Niger Delta origin at the Nigerian Maritime Administration and Safety Agency (NIMASA). Its President, Eric Omare, said such an action by the General India Garba led agency was dangerous to the peace and security of the Niger Delta region.It noted that since President Muhammadu Buhari assumed office, Niger Delta people who were recruited at NIMASA during President Goodluck Jonathan’s administration and while Patrick Akpobolakaemi was Director General of the agency, have been under constant threat of sack and discriminatory treatment. “The threats have reached a crescendo under the board headed by General India Garba (rtd), who have n...

Oct172017 by Our EditorNo Comments

INTELS can’t re-write our laws – Hadiza Usman

Politics, Port News

The Managing Director of Nigerian Ports Authority, Hadiza Bala Usman yesterday in Lagos declared that it took some 15 gruesome months of negotiation to make the management of INTELS Nigeria Ltd see reason why it would be impossible for the Federal Government to issue them a waiver on the TSA policy . Hadiza Usman who spoke at an interactive session with maritime journalists in Lagos said the NPA laid all its cards on the table making quite a lot of concessions to the Logistics Company. "We explained to them that failure to remit the pilotage dues to the TSA account was in total breach of the constitution of the Federal Republic of Nigeria. But they insisted on an upfront deduction of their 28 per cent service charges and other charges before remitting the balance to the TSA account." Ac...

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...