Customs Foils Smuggling Attempt Seizes Goods Worth N1.48bn
Fighting Insecurity In A Democracy
Foundation Urges Collaboration To Save The Earth
We’ll Ensure 2023 Elections Are Safe – Buhari
Nigeria’s Economy: More Pains, Less Gains
We Have Our Indivisibility To Celebrate -Wonwu
Finding A Place For Rule Of Law
Nigeria: A Failed State At 60?
Nigeria At 58: Anything To Celebrate?
MWUN Hails Terminal Operators Over CBA Implementation
Eight Ships With AGO, PMS, Others Expected At Eastern Ports, Today
Pirates Cart Away N.1m Loot From Traders
NIWA Reads Riot Act To Boat Operators
MTS Partners NMLA Against Victimised Members
Role Of Media In Promoting Peace, Unity
Reducing Maternal Mortality Within Legal Framework
Defederalising Policing For Effective Security
Demystifying The ‘Itu Anya’ Monster
Demystifying The ‘Itu Anya’ Monster
100m hurdles: My Success Story – Amusan
Kalu Hails Amusan’s Gold Medal Feat
AFP, RSBA To Host Basketball Festival In PH
Rivers United Crew To Undergo Training – Green
Sports Commissioner Commends NBA Player For Sponsoring Competition
Why I Won’t Contradict Atiku On Choice Of Okowa – Ortom
Osun 2022: Campaign Organisation Explains Why PDP Aspirant Is In Court
CVR: INEC Insists On July 31 Deadline
Lawyer Sues Tinubu, APC Over Muslim-Muslim Ticket
APC Candidate Missing On INEC’s Akwa Ibom Governorship Candidates List
‘Wealthy Nigerians Behind Jet-A1 Scarcity’
FG Wants Out-Of-Court Settlement With Terminal Operators, Companies
Importers Lose Over N2bn To NCS Five Star Deactivation
‘Dangote Petrochemical Plant, Africa’s Polypropylene Hub’
NCAA Begins Financial Audit Of Distressed Airlines
Job Searching Tips for Recent College Graduates
Foreign Capital Imports in Nigeria drop by 78%
The inflation rate in Nigeria on an all-time high
Ugandan Appointed Managing Director In Nigeria
Become Job-Ready With a National Criminal History Check
50-Year-Old Man Docked For N8.5m Land Fraud
Domestic Servant Docked For Stealing Employer’s Property
Ground Rents: Asokoro, Maitama Property Owners Highest Debtors, Says FCTA
Kogi: Dangote Cement, Communities Sign Landmark Development Pact
Plateau Donates Over 50 Hectares Of Land To Federal Govt Agencies
New Flyover Projects Excite PH Residents
Is CCT Right In Slamming Asset Declaration Charges Against CJN?
Rivers Residents Dissociate Wike From APC Crisis
PH Residents Hail Wike’s Dev Strides
Fruit Garden Market Traders Appreciate Wike
How to deal with unexpected summer costs
Job Searching Tips for Recent College Graduates
Nigeria is Surging in Forex Traders
5 Tips for Getting Your Credit Utilization Rate in Check
How to deal with unexpected summer costs
What are Stock Options and Are They Right For You?
Role of attracting Private Finance for Africa’s economic growth
Why the UK’s Exit from the EU could Represent a Golden Opportunity for Nigeria
How to improve PC aim in Warzone
AWS Security Audit: Things To Keep In Mind, Checklist, and Tools
6 Steps to Ensure WordPress Security
NITDA To Develop Multi-Billion Naira Data Privacy Sector In 2021
Parents Task RSG On Virtual Learning In Public Schools
PMS Landing Cost Hits N470/Litre
PH Refinery Begins 60,000bpd Refining In 2023
NCDMB Is Best In Africa -Akobo
‘IOCs’ Onshore Divestment, Double Jeopardy For Nigeria’
Clear Legacy Gas Supply Debts, NGA Urges FG
Five Biggest Casinos In The World
What are the reload slot bonuses?
What Are The Payout Levels On Progressive Jackpot Slots?
Which country has the most online slots websites?
Best Galaxy phone to play slots
The House of Representatives’ Committee on Finance has summoned the Ministers of Finance, Budget and National Planning, Zainab Ahmed, and that of Power, Abubakar Aliyu, over the planned sale of five power plants. Also summoned were the Director-General for the Bureau for Public Enterprise, Alex Okoh; Managing Director, Niger Delta Power Holding Company, Joseph Ugbo; and MD/Chief Executive Officer, Nigerian Bulk Electricity Trading Company, Dr Nnaemeka Ewelukwa. The Chairman of the House Committee on Finance, James Faleke, in separate letters to the Federal Government bodies and officials concerned, described the planned sale of the power plants as unconstitutional and a disservice to the nation’s development as the assets jointly belong to the three tiers of the government – federal, states and local governments. ”The House of Representatives has observed with grave concern, the proposed sale of the five National Integrated Power Plants namely Benin Generation Company Limited, Calabar Generation Company Limited, Geregu Generation Company Limited, Olorunsogo Generation Company Limited and Omotoso Generation Company Limited by the Bureau for Public Enterprise without due regard to constitutional principles and economic policy that informed the establishment of those power plants. “The committee decried the proposed sale as unconstitutional and a disservice to all known principles of national development and the sharing equity among the three tiers of government. “Considering the critical role your agency is playing in sustainable energy sector in the country, you are please requested to stop all further processes regarding this transaction and to submit the following information for the committee’s determination of the way forward”, the letter read. The committee asked NBET to provide a breakdown of the capacity and monthly income of all the power plants, a full disclosure of all the power plants that have taken or pay agreements as well as electricity consumed and not consumed from inception.
NCAA Begins Financial Audit Of Distressed Airlines
Agric Imports Exceed Exports By N443.35bn – NBS
The lawmaker representing Kogi West Senatorial District and Chairman of the Senate Aviation Committee, Senator Smart Adeyemi, has said wealthy Nigerians stealing and exporting the Jet –A-1 are responsible for the scarcity of aviation fuel in the country. Adeyemi, who spoke to The Tide’s source, said this situation had added to the problem of lack of refineries that the country had been battling with. He further lamented that the situation had been worsened by the increase in the number of Nigerians who could no longer travel by road due to the insecurity issues. The senator added that there was no way the economy could thrive when some people kept stealing from the economy. “Before now, we used to procure our oil from Europe but they no longer have that capacity, especially because of the diplomatic issue between Europe and Russia. Europe is no longer buying fuel from Russia, so they have to do with what they have. As you can see, the pump price of PMS has gone up in Europe itself. “The consequence for us is that what we would have used as proceeds is what we are using to import back PMS to the country for local consumption. The same thing goes for aviation; the JET A-1 that is being imported is beyond what our country is consuming. Nigerians are smuggling JET A-1 to other West African countries. So, it means neighbouring countries live on what Nigeria is bringing in and that accounts for why the subsidy keeps increasing. “The people doing this bunker and stealing of our resources aren’t ordinary Nigerians. They are rich and powerful people who have become cabals; they do this stealing in very large quantities. How can anybody justify that 80 per cent of what we produce is stolen?” Adeyemi said. The lawmaker further lamented that it was painful as it was further hampering the economy of the country. According to him, “what can we do when the refineries are not working. The concern of everyone is to make the refineries work and build one or two more refineries. “When the refineries are not working, these are the consequences and more so with the global economic recession, the recession will first manifest in the aviation industry and that is because people are now traveling more by air than before.
The Federal Government has said it is considering an out-of-court settlement with terminal operators and shipping companies over arbitrary charges. It also stated its recognition of the Nigerian Shippers’ Council (NSC) as the port economic regulator. The Permanent Secretary, Federal Mitnistry of Transport (FMOT), Dr Madgalene Ajani, who stated this, said talks are ongoing with the terminal operators to end the legal tussle, which is currently at the supreme court after a Federal High Court sitting, in Lagos, had ruled in favour of the Nigerian Shippers Council with directive for the terminal operators to return to status quo in the stipulated pricing. Dr. Ajani, who was speaking at a one-day sensitisation meeting organised by the FMoT and the Council, with the theme: “Promoting Competitiveness & Compliance in Nigerian Maritime Industry: Mandate of the NSC in Focus”, in Lagos, said beside Shippers’ Council’s role as the Ombudsman of the ports, the council still remains the port economic regulator. This, she said, is pending the establishment and operationalisation of the National Transport Commission (NTC), as an independent regulatory authority in the transport sector. Noting that the Nigerian Ports Authority (NPA) is the technical regulator of the ports, she said the Ministry was aware that the Council had faced resistance from some stakeholders in the maritime industry at the earlier stages of implementation of its regulation. According to er, with various stakeholders’ meetings, engagements and consensus building, the various stakeholders have expressed their commitment and cooperation with the council on ensuring the successful implementation of the regulation. SEhe stated that Nigerian Shippers’ Council was appointed as the interim port economic regulator in 2014, as a government response to fill the vacuum and address the challenges facing the port system.
Close to three weeks after the sudden deactivation of Five Star Logistics Terminal on the Nigeria Customs Service (NCS) portal, Nigerian shippers now owe over N2 billion as demurrage to shipping lines. Maritime Experts have also estimated the demurrage losses for Nigerian importers to exceed N2 billion, while Customs revenue is also being threatened as some shipping lines have begun rescheduling their vessels to avoid the port. Although projected losses for the seaport terminal is pegged around N1billion, the company has expressed willingness to waive storage charges for the period. Meanwhile, a source at the facility has confirmed that the company’s top management are still in Abuja as they have been engaging Customs leadership at the headquarters. Speaking on the development, the President of African Association of Professional Freight Forwarders and Logistics (APFFLON), Mr. Frank Ogunojemite, has asked Customs to explain what platform they will utilize in collecting unpaid duties from a terminal operator. Otunba argued that there is no platform for a terminal operator to pay Customs duties that should have been paid by consignees. According to the APFFLON boss, NCS is being inconsiderate by persisting with the terminal’s portal closure as Nigerian shippers are set to suffer colossal charges that would transmute into inflation in the country. “At this point, the only beneficiary of this situation is the shipping lines who are foreign organizations. The terminal operator will have to waive the storage charges because they are responsible for this, but shipping lines will not waive demurrage. “This means shippers will pay the demmurage and pass the additional cost to Nigerians by increasing the prices of the imported goods”, he said. Ogunojemite also expressed worry that fast track goods and reefer cargoes are still made to suffer from Customs decision, describing the move as a huge setback for the nation. He stated that Customs doesn’t seem to care because it would recoup its revenue whenever the portal is opened, but warned that the congestion at the ports and economic impact of the decision should make the Service reconsider its stance. According to inside sources, two exotic brand new vehicles arrived recently with an estimated revenue of N2.5billion for Customs and several other cars were also seen at the facility because a ship had already discharged thousands of cars. “We have had 2 vessels arrive so we are talking of about N5billion with N2.5billion per vessel. “On containers, the revenue should be around N1.2billion. Demurrage losses can be estimated to be over N2billion. “Five Star will lose a lot of money also, about N1billion that should have been collected as storage charges. However, they are expected to give waivers,” a source who preferred anonymity said. With congestion looming at Tin Can Island Port, many vessels are changing their scheduled plan because of this issue and the revenue of Customs and government is threatened.
‘I Want To Be Remembered For Laying RSUTH Foundation’
MWUN Wants FG To Impose 14-Day Quarantine On Oil, Gas Vessels
COVID-19: Boat Drivers Lament Low Patronage At PH, Bonny Jetties
Admission: JAMB, Stakeholders Peg Varsity Cut Off Marks At 140 …As Board Remits N29bn To CRF …Reps Pass Bill To Extend Validity Of Results To Four Years
2023: No Identified Treasury Looter’ll Be Rivers’ Gov, Wike Cautions …Vows To Prosecute Amaechi, Cole …As RSG, Julius Berger Sign Contract For Two Flyovers, Azikiwe-Iloabuchi Road
We Have No Plans To Shut Seaports – NPA
Lockdown: CRFFN, Shippers’ Council Pull Banks Back To Apapa Port
NFF To Fortify Super Falcons For World Cup
© Copyright © 2009-2022 The Tide Newspaper Corporation