Maritime industry stakeholders have applauded the Nigeria/China currency swap initiative recently embarked upon by both countries, even as they urged the Federal Government to watch out for possible long terms adverse consequences of the deal. The critical maritime industry operators were unanimous that while the currency swap deal remains a transformative policy instrument that will significantly reduce shipping costs, enhance …

Minister of Marine and Blue Economy, Adegboyega Oyetola, has approved the appointment of Dr. Bolaji Akinola as his Adviser on Media and Communications. Akinola, a highly respected maritime and corporate communications expert, brings over twenty-five years of extensive experience and deep industry knowledge to his new role. Throughout his distinguished career, Akinola has built a strong reputation for his insightful …

The Federal Government has once again raised hopes of disbursement of the Cabotage Vessels Financing Funds (CVFF). The funds, which was set up 22 years ago and largely contributed by Nigerian indigenous ships owners, is said to have accrued $350 million (about N420 billion), as at November last year. Minister of Finance and Coordinating Minister of the Economy, Mr. Wale …

Amidst heightened concern of likely drug use by boat operators leading to many boat mishaps along River Niger, the National Inland Waterways Authority (NIWA) is seeking a partnership with National Agency for Food and Drug Administration and Control (NAFDAC) and other agencies to run tests on operators. LEADERSHIP reports that within one year, boat mishaps have claimed no fewer than …

The Director of Research, Sea Empowerment Research Centre, Dr. Eugene Nweke has appealed to stakeholders in the maritime industry to allow the implementation of the International Cargo Tracking Note (ICTN) which would in turn add value to the Nigerian ports system. Since the news of the planned reintroduction of the ICTN filtered in, the subject has generated a heated debate …

The Minister of Marine and Blue Economy, Adegboyega Oyetola, has said that agencies in the Marine and Blue Economy increased revenue generated to the coffers of the federal government by 77%. He disclosed this in an interactive session with the Nigerian Guild of Editors (NGE) in Lagos. According to him, the Presidential Enabling Business Environment Council (PEBEC) during the 120 …

Stakeholders’ in the maritime business have lauded the Comptroller General of the Nigeria Customs Service (NCS), Bashir Adewale Adeniyi, for prevailing on government to suspend the four per cent Free-on-Board (FOB) value on imports into the country. FoB value is an instrument used by Customs Administrations to assess import duties and taxes in which freight and insurance costs are excluded. …

Managing Director of the Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho has enumerated the multiple advantages Nigeria stands to reap from successful implementation of the National Single Window (NSW) scheme. The NPA boss, who described the NSW scheme which was reintroduced in Lagos Tuesday, as the most strategic port initiative since 2003, said that, with the implementation, the nation’s seaports …

The federal government has announced plans to implement the National Single Window (NSW) in its bid to reduce the cost of doing business in Nigerian ports by at least 25 per cent. The Minister of Marine and Blue Economy, Adegboyega Oyetola, who stated this at a stakeholders’ forum on the establishment of the NSW in Lagos, said the implementation of the Single …

The Managing Director of the Nigerian Ports Authority (NPA), Abubakar Dantsoho, has stated that Nigerian ports can only stay competitive by redoubling their investments. In a statement on Thursday, Dantsoho disclosed this when he undertook an operational and investment tour of the Onne and Rivers Port Complexes. This move according to Dantsoho, was in continuation of his resolve to galvanize …