Business – Shipping World News Magazine

May302023 by Asu BeksNo Comments

Gov Diri Warns Fuel Marketers Against Hoarding, Price Hike

Bayelsa State Governor, Senator Douye Diri, on Tuesday directed oil marketers in the state against hoarding and raising the price of premium motor spirit (PMS) otherwise known as petrol. Senator Diri, in a statement issued by his Chief Press Secretary, Mr. Daniel Alabrah, warned that his administration will take stern measures against any filling station that flouted the directive. He said the government had received reports that filling stations in the state capital had hiked the pump price of petrol above the usual price of between N193 and N250 per litre and now being sold at N500 per litre and above. Marketers in the state are said to have reacted to the pronouncement of President Bola Tinubu during his inauguration on Monday that the Federal Government subsidy on petrol “was ...

Mar132023 by Asu BeksNo Comments

UPDATED… Gov. Diri To FG, CBN: Obey Supreme Court On Old Naira Notes

Business, News Feature

Bayelsa State Governor, Senator Douye Diri, has urged the Federal Government and the Central Bank of Nigeria (CBN) to obey the Supreme Court ruling on the old Naira notes in order to ameliorate the suffering occasioned by the cash crunch on Nigerians. The Bayelsa governor said going by the March 3 ruling of the country’s apex court, the old and new currency notes ought to circulate side by side till December 31 this year. Senator Diri stated this on Monday in Government House, Yenagoa, during an interactive meeting with leadership of various unions and associations of transporters, traders and petroleum marketers in the state. The governor said with the ruling of the apex court on the matter, Nigerians expected the federal government and the CBN to speedily implement and enforce t...

Oct132022 by Asu BeksNo Comments

Trade Facilitation:ICC Nigeria seeks collaboration with Shippers’ Council

Business, Maritime, News Feature

The International Chamber of Commerce (ICC) Nigeria has called for collaboration with Nigerian Shippers’ Council (NSC)to aid trade facilitation in Africa. The Chairman, ICC Global Customs & Trade Commission, Mr. Segun Olugboyegun made the call when he led a delegation on a courtesy visit to the NSC’s Headquarters in Lagos on Wednesday. Olugboyegun said ICC wants strong partnership with Shippers’ Council seeing as it has been promoting trade facilitation in the maritime sector. The Executive secretary, ICC Nigeria, Mrs. Olubunmi Osuntuyi who made a presentation on ‘‘ICC Global Customs & Trade Facilitation Commission’’, said the ICC is championing the adoption of digitalized Customs’ processes while emphasizing on the need for industry engagement on emerging policy issues wi...

Apr42022 by Asu BeksNo Comments

Bayelsa to Compliment NIMASA in Gulf of Guinea , partners EU

Business, Maritime, News Feature

Bayelsa State Governor, Senator Douye Diri, has expressed the willingness of the state to partner the European Union towards ensuring security in the Gulf of Guinea. Speaking in Abuja on Monday when he played host to a delegation on maritime security from the European Union, Governor Diri said as the state with the longest coastline in Nigeria, Bayelsa is interested in collaborations that will help it secure its maritime area and harness the resources therein. A statement by his Chief Press Secretary, Mr. Daniel Alabrah, quoted the governor as describing Bayelsa and the entire Ijaw nation as critical stakeholders in maritime safety given the fact that the lives of the people depend on their coastal ecosystem. He said it is in line with the significance of the ecosystem to the peop...

Mar192021 by Asu BeksNo Comments

Bayelsa Governor Charges Cabinet Members On Stewardship

Business, News Feature, Technology

Bayelsa State Governor, Senator Douye, has implored members of the state executive council to explore ways to actualise the vision of his administration for the benefit of Bayelsans. Governor Diri gave the charge on Thursday at the opening of a three- day retreat for cabinet members tagged 'Prosperity Agenda for Growth and Development' at the Ibom Icon Hotel and Golf Resort, Uyo, Akwa Ibom State. The governor, who advised participants to take the retreat seriously in order to gain additional knowledge that would assist them in their various tasks, said as bearers of the administration's prosperity vision, they should see themselves as those with the opportunity to serve and improve the living conditions of the people. His Chief Press Secretary, Mr Daniel Alabrah, quoted him as...

Oct212019 by Asu BeksNo Comments

Citing Security, NPA Cancels $133.28M SAA Fees

Breaking News, Business, Maritime, Port News

Insists Navy, NIMASA, statutorily required to secure country’s waters Shipping companies hail move Concerned by threat to national security and the cost of doing business at the country’s seaport, the Nigerian Ports Authority (NPA) has notified the Nigerian Navy of its decision to dismantle the Secure Anchorage Area (SAA), operated on behalf of the Navy by a private company, OMSL Limited. NPA insisted that the security of the country’s waterways was the statutory responsibility of the Nigerian Maritime Administration and Safety Agency (NIMASA), Marine Police, and Nigerian Navy, which must all ensure a safe and secure Nigeria territorial waters. The move by NPA has been hailed by stakeholders in the maritime sector, who claimed the initiative was timely to stave off a financial burde...

Oct32019 by Asu BeksNo Comments

Hameed Ali to Importers: Pay Correct Duty and Get Your Seized Vehicles Back

Breaking News, Business, Port News

Succour might have come the way of vehicle owners to get back their seized vehicles courtesy the Comptroller General of the Nigeria Customs Service (NCS), Col. Hameed Ali (rtd). Some of the seized vehicles The new relief is contained in a Circular No HQ/005, 2019 titled ” Detention and Seizure of Vehicles” sighted by our Correspondent yesterday. The circular which was signed by AOB Fatade, an Assistant Comptroller General of Customs on behalf of the CG and copied to all DCGs, ACGs, Area Comptrollers and Unit heads reads. “The Comptroller General of Customs has directed that henceforth, all vehicles detained or subject to detention should be allowed to pay the correct and complete customs duty with 25% penalty levy.” The statement however gave an exception to alread...

Aug202019 by Asu BeksNo Comments

Six Chinese companies operating and Constructing Railways Projects in Nigeria blacklisted by the World Bank over alleged corruption

Breaking News, Business

August 20, 2019 Six Chinese companies operating in Nigeria have incurred the wrath of the World Bank as they have been blacklisted over alleged fraud and corruption. A publication on the the website of the bank listed the companies as CCECC Nigeria Railway Company Limited, CRCC Petroleum and Gas Company Limited and CCECC Nigeria Company Limited. Others are China Railway Construction (International) Nigeria Company Limited, China Railway 18th Bureau Nigeria Engineering Company Limited and CCECC Nigeria Lekki (FTA) Company Limited. They are part of several companies blacklisted from different parts of the world by the procurement unit of the bank, in a publication titled ‘Procurement – World Bank Listing of Ineligible Firms and Individuals’. They were accused of violating the...

Aug182019 by Asu BeksNo Comments

FOREIGN INVESTMENT INTO NIGERIA DROPS BY 43% – UN REPORT

Breaking News, Business, Politics

Foreign direct investment in Nigeria, Africa’s top oil producer, plunged by 43 per cent to $2bn, according to a United Nations report. Reuters reported on Thursday that investors were put off by a dispute between the government and South African telecom giant MTN over repatriated profits. Banks HSBC and UBS both closed representative offices there in 2018. That left Ghana, which is in the midst of an oil and gas boom and saw inflows of $3bn, as West Africa’s leading destination for foreign investment. Italy’s Eni Group was behind Ghana’s largest greenfield investment project. It said the development of new mining and oil projects, a new US development-finance institution and the ratification of an agreement to create a continent-wide free-trade area could further boost...

Jan162018 by Asu BeksNo Comments

Indigenous Shipowners May get NNPC, NIMASA Nod To Lift Crude

Breaking News, Business, Maritime

… As Dakuku Champions New Trade Terms to Boost Indigenous Shipping … Kachikwu, Baru Weigh Options Shipowners and other stakeholders in the maritime sector are on the verge of getting the desired change in trade terms from Free On Board (FOB) to Cost Insurance and Freight (CIF) which would enable them to begin to lift Nigeria crude and ultimately boost indigenous capacity. This new encouragement was a fall out from the stakeholders’ engagement on changing Nigeria’s crude oil affreightment trade term from FOI to CIF which was organised by Nigerian National Petroleum Corporation (NNPC) and the Nigerian Maritime Administration and Safety (NIMASA) held on Tuesday at the NNPC towers in Abuja. The Minister of State For Petroleum Dr. Ibe Kachikwu who declared the event open welcomed the de...