Connect with us

Business

NAGAFF Petitions IGP Over Invasion Of Premises

Published

on

The National Association of Government Approved Freight
Forwarders {NAGAFF}has offer all to God in a thanks giving service to celebrate
God’s mercies upon them particular   in
the recent invasion of its complex by armed military men.

The Association ‘s members who gathered at its National
headquarters in Apapa Lagos for the service offered prayers to God to continue
to guide the Association, the maritime industry and Nigeria.

Commenting on the recent invasion by the armed military men
led by one Deputy Comptroller of Customs {Mrs.} Jayne Shoboiki who is said to
be the wife of a Major-General and a brigade commander in the Nigerian army,
the founder of the Association, Chief {Dr} Boniface Aniebonam said the
thanksgiving service has become necessary as God did not allow anything to
happen to him or any of NAGAFF members during the unfortunate incident.

According to him on that fateful day, he was following the
Convoy of soldiers until they stopped at NAGAFF village and invaded the place,
then he drove past them.

Aniebonam said, he is grateful to God that he was not in the
office when the invasion took place as he might have been a dead man.

He condemned the act, but said he still respects the
Nigerian armed forces.

He called on all NAGAFF members and well wishers to be calm
as investigations is on going and that justice will be done.

He absolved the military and the customs from any blame,
saying that privileged persons like the Deputy Comptroller and her Major
General husband want to show power.

It would be recalled that NAGAFF wrote a petition through
its solicitor Larry Okonkwo and Co dated August 1st, 2012 to the Inspector
General of Police, the Executive Secretary National Human Right commission and the
Comptroller General of Customs Service, captioned “complaint about the invasion
of the headquarter of NAGAFF”, a copy of which was made available to The
Tide  in Lagos. The petition read in
part, “however, our experience  on the
afternoon of Wednesday August  1st , 2012
is nothing to write home about and makes
nonsense of your efforts at upholding the fundamental human rights of
Nigerians and especially the rule of law policy of President  Goodluck
Jonathan’s administration” .

“On the said day 13 stern-looking heavily-armed soldiers,
stormed the headquarters of NAGAFF in two vehicles, white-coloured hilux
peugeot with Registration number EM165GGE and a black Lexus SUV with
Registration. number BU300RBC led by a serving customs officer, Deputy Comptroller
Jayne Shoboiki”.

Mrs. Shoboiki is married to a serving military officer Major
General J. O. Shoboiki who is said to be a brigade commander according to the
statement.

The invasion of the NAGAFF headquarters on the afternoon of
Wednesday 1st of August 2012 at about 2:15pm by the 13 uniformed soldiers whose
names could not be ascertained immediately and under the prompting of Mrs.
Jayne Shoboiki could only happen in a state of war, where a country is
attacking another with weapon and psychological warfare to intimidate the
opponent and not just a peace loving law, abiding, hapless association like
ours.

The petition further reads that, Mrs. Shoboiki who stood at
the entrance gate raving in anger, while the army of invasion kept ransacking
the village, kept shouting at the top of her voice that she would deal
mercilessly with Dr. Aniebonam and the top management of NAGAFF, claiming that
they had consistently accused her of corrupt
practices and self enrichment to the detriment of the government.

It could also be recalled that after the red eyed soldiers,
in combat mood, led by Mrs. Jayne Shoboiki who is in  charge
of the Customs  Intelligence Unit
{CIU} of the Nigeria  Custom Service,
Tincan Island Port Lagos invaded the NAGAFF village, the Inspector-General of
Police has in a letter dated 7th August, 2012, Ref
No:CB:7000/IGP.SEC/ABJ/VOL.98/830 directed the Lagos state police commissioner
CP Umar Manko to ensure that is no breach of the peace in Lagos State.

Continue Reading

Business

NLNG Generates $114bn, Pays $9bn Tax, As Train 7 Kicks Off

Published

on

Nigeria Liquefied Natural Gas (NLNG) has generated more than $114billion over the years and tax payment of $9billion as the construction of the most expected Train 7 kicks off in earnest. 
Flagging off the construction of the projects last week virtually, President Muhammadu Buhari expressed excitement over the progress made by the country’s NLNG. 
“I am proud that NLNG, as the pioneer LNG Company in Nigeria, has conscientiously proven the viability of the gas sector over the years, currently contributing about one percent to our country’s Gross Domestic Product (GDP). 
“NLNG has generated $114 billion in revenues over the years, paid $9 billion in taxes; $18 billion in dividends to the Federal Government and $15 billion in feed gas purchase. 
“These are commendable accomplishments by the company’s 100 percent Nigerian Management Team”, he said. 
President Buhari flagged off the construction of the Train 7 project of the Nigeria Liquefied Natural Gas Limited (NLNG) in Bonny Island, Rivers State during the groundbreaking ceremony at the Company’s plant site, effectively kick-starting the project which is expected to increase NLNG’s current six-train plant capacity by about 35% from an extant 22 Million Tonnes Per Annum (MTPA) to 30 MTPA. 
President Buhari, in his address, said the groundbreaking event was an important milestone in the history of Nigeria’s oil and gas industry, adding that “the story of Nigeria LNG is one that I have been so passionately associated with during the formative years of the NLNG project. It has transformed from a project over the years to a very successful company. 
“This groundbreaking ceremony to herald the Train 7 project construction has afforded me the opportunity to congratulate NLNG and its Company’s shareholders – NNPC, Shell, Total, and Eni – for proving that a Nigerian company can operate a world-class business safely, profitably, and responsibly. Clearly, you have set the stage upon which Nigeria’s vast gas resources will continue to grow well into the future. 
“With this level of performance, I can only hope that the company continues to grow, starting with this Train 7 project, but also positioning Nigeria to thrive through the energy transition. 
“I hereby urge the Board of Directors, Management and Staff of Nigeria LNG, the Host Communities, the Rivers State Government and Agencies of the Federal Government to continue to collaborate to ensure completion and eventual commissioning of the Train 7 project safely and on time, so that Train 8 can then start. 
Rivers State Governor, Nyesom Wike, represented by his Deputy, Dr. Banigo, applauded the shareholders, NLNG’s Board of Directors, and the company’s management for keeping the Train 7 dream alive, saying that the State Government considered the project as a key economic enabler and remains committed to supporting both the project and the Company. 
The Minister of State for Petroleum Resources, Timipre Sylva, stated that Train 7 would contribute to maintaining the country’s status as a gas exporting nation. 
“Nigeria has more gas reserves than crude oil, and we have much to gain from sustaining our LNG exports to a market that has a growing demand for the commodity as the preferred fuel for industrialisation and power generation,” he said. 
The Group Managing Director of NNPC, Mele Kyari, in his welcome remarks, commended the Federal Government for supporting the project and called for stakeholders’ support for the project, adding that support for NLNG will lead to immense benefits to Nigerians. 
Nigeria LNG’s Managing Director, Tony Attah, in his welcome remarks, said the benefits of gas to the country will increase on the back of the Train 7 project, noting that Train 7 will stimulate the inflow of more than $10billion Foreign Direct Investment (FDI) into Nigeria as part of the project scope; create more than 12,000 direct jobs and additional 40,000 indirect construction

Continue Reading

Business

BoI Disburses N969.6bn In Five Years

Published

on

The Bank of Industry (BoI) has disbursed loans worth  N969.7 billion to borrowers in five years to support various businesses.
 BoI Deputy Head, Business Development, Mrs Aderonke Akinluyi,  disclosed this at a webinar by the Lagos Chamber of Commerce and Industry (LCCI) in Lagos, yesterday.
 Akinluyi said the funds were disbursed between 2015 and 2020 to over three million Micro, Small and Medium Enterprises (MSMEs) and 653 large enterprises.
Speaking on the theme: “Funding Opportunities for Businesses in the Bank of Industry,” Akinluyi said the bank during the period created 6.98 million direct and indirect jobs.
She also disclosed that the bank was currently collaborating with over 330 Business Development Service Providers (BDSPs) to offer advisory and business support services aimed at improving intending MSMEs.
“Our business model reflects our goal to drive development through financial and advisory support to all customer levels, with dedicated teams for MSMEs, youth and women led enterprises.
“Our collaboration with the BDSPs ensures that the MSMEs are almost handheld in structuring, and preparing their business models and plans.
“The collaboration also provides other entrepreneurial training as required and are split across the regional, state and national categories,” she said.
Divisional Head, SME, South, BoI, Mr Obaro Osah,debunked some perceptions associated with accessing funding from the bank.
Some of the perceptions, he said were, the need to know and pay someone at the BoI, the one year wait of processing to access funds and the myth that the bank only supported manufacturing industries.
“The loan application approval processing timeline for loans below N10 million is four weeks, loans between N10 and N100 million is six to eight weeks.
“Loans above N100 million to N500 million is eight to10 weeks,” he said.
Group Head, Engineering and Technology, BoI, Mr Femi Shittu, listed the bank’s selected loan products to include: agro mechanisation, food and agro commodity processing and commercialisation of the solar energy.
“The selected managed intervention fund include the Nigerian Artisanal and Small Scale Miners Finance Support Fund of N2.5 billion with a five per cent per annum interest rate.
“The Nigerian Content Intervention Fund of 350 million dollars to support indigenous oil and gas players is also available,” Shittu said.
In her remarks, President, LCCI, Mrs Toki Mabogunje, said limited access to funding was one of the biggest constraints facing businesses, especially MSMEs.
Mabogunje noted that a report by PriceWaterhouse Coopers, revealed that Nigerian SMEs had a funding gap of about N617 billion as of 2019.
According to her, evidence shows that majority of Nigerian MSMEs have not significantly benefited from available financing opportunities in the country.

Continue Reading

Business

$430m Enugu-Cameroon Highway To Be Completed This Year – AfDB

Published

on

The African Development Bank (AfDB) says the 430 million dollars highway project linking Enugu to Bamenda in Cameroon will be completed this year.
The bank, in a statement issued on Monday, said that it was part of its investments in West Africa which currently stood at 16 billion dollars.
The statement quoted the President of AfDB, Dr Akinwunmi Adesina, as disclosing this in a speech at the 59th Ordinary Session of the ECOWAS Authority of Heads of State and Government in Ghana.
According to Adesina, the 430 million dollars highway project will transform trade opportunities between the two countries.
He also disclosed that the bank was working assiduously with the ECOWAS Commission to finalise feasibility studies for the Abidjan-Lagos corridor by the end of 2021.
“We expect construction for the corridor to commence within 24 months,’’ Adesina said.
The bank’s president said that the highway would link 85 per cent of the trade volume in ECOWAS through the corridor.
Adesina, who pointed out that AfDB was investing massively in West Africa, said that the total active portfolio of the bank in West Africa currently stood at 16 billion dollars.
According to him, the bank’s support for infrastructure in the ECOWAS region has doubled over the past five years, increasing from two billion dollars in 2015 to four billion dollars.
“While I can list several projects in every country, let me just mention a few critical regional infrastructure.
“The Senegambia Bridge is rapidly facilitating trade between Senegal and The Gambia.
“Our financing helped to double the capacity of the Lome container port in Togo, which is critical for regional transport and logistics.
“The Bamako to San Pedro corridor has helped to expand trade between Côte d’Ivoire and Mali by 34 per cent, while reducing transit time at the border from 24 hours to just two hours.
“The 303km road linking Ouagadougou and Lome has reduced travel time from six days to just two days.
“Our 650 million dollars financing for the transport corridors linking Sierra Leone, Guinea and Liberia will impact on economic opportunities for 51 million people.
“I am pleased that this year, the bank will provide 105 million dollars financing for the road linking Guinea-Bissau and Senegal,’’ he said.
Adesina further said that the 20 billion dollar Desert-to-Power programme on energy would develop 10,000 MW of solar power to light up the Sahel and provide access to electricity for 250 million people.
“This project will make the Sahel the largest solar zone in the world.
“Right here in Ghana, the bank’s financing of 120 million dollar for the new terminal at Kokota International Airport is having huge impacts on regional transport and freight movements.
“With the new terminal, freight handling has expanded by 30 per cent,’’ Adesina said.
He added that the bank provided 4.5 million dollars for the establishment of the African Continental Free Trade Area secretariat in Accra, to further support regional trade in the continent.
While recalling the effects of Covid-19 on the continent, the AfDB boss said the bank launched a 10 billion dollars facility to support African countries navigate through the challenging times posed by the pandemic.

Continue Reading

Trending