Business
Nigeria, Ghana, Others Set For Maritime Pact
The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside has stressed that regional collaboration is key to developing Africa’s maritime sector, stating the Agency’s commitment to continue to reposition the Nigerian maritime sector in order to make it viable and compete favourably with its counterparts in other climes as Nigeria, S/Africa, Ghana and Kenya get set for collaboration.
The DG who made this known in Lagos recently, while receiving a delegation from the Gambian Maritime Administration, led by the Director-General, Mr. Mustapher Maroung said that NIMASA would continue to drive regional collaborations in order for Africa to reap the benefits of the blue economy.
Dr. Dakuku who is also the Chairman of African Maritime Administrations (AAMA) also informed that the upcoming fourth conference of the Association with the theme, “Protecting the African Marine Environment to Support Sustainable Development”, scheduled to hold from 16th -19th of September 2018 in Sharmel Sheikh, Egypt would provide an avenue for African Maritime leaders to chart a way forward for the continent which can be tagged the biggest Island of all the continents.
“We cannot walk this journey alone; partnership is crucial to achieving a robust economy. The beauty of partnership is that everyone brings their expertise to the table where ideas are shared and considered as a way forward to achieving a particular goal; it is not only here in Nigeria, it has become a global trend and this is what AAMA seeks to achieve for the continent,” Dr. Dakuku stated.
Speaking further, Dr. Dakuku noted that the Agency is in discussions with the Maritime Administrations of South Africa, Ghana and Kenya to acquire and jointly operate a training vessel for Cadets. He also noted that discussions are still at the early stages but he is hopeful that such partnership agreement will be beneficial to the countries, adding that the AAMA conference would be an avenue to continue discussions in the proposed agreement.
He stated further that the partnership with the United Arab Emirate on free training of 100 cadets would support the country, noting that the pact provides for the training of 10 cadets per annum spread over 10 years, making it a total number of 100 cadets to be trained in 10 years, contrary to the negative news making the rounds.
The NIMASA DG also used the opportunity to shed more light on the issue of the disbursement of the Cabotage Vessel Financing Fund (CVFF), assuring that in the shortest period of time, the guidelines for the disbursement of the fund will be publicised for qualified shipowners to be duly considered. He however maintained that the power to grant approval for the release of the funds was vested in the Federal Ministry of Transportation.
Earlier in his remarks, the DG of the Gambia Maritime Administration, Mr Mustapher Maroung commended the activities of NIMASA. He said that the Gambian Maritime has come to learn from the Agency and are willing to collaborate with Nigeria for the growth of Africa’s blue economy.
It may be recalled that the NIMASA DG at a Press Conference held in Lagos recently addressed topical issues on the activities of the Agency intended to ensure the growth of the maritime sector, where he assured the public that NIMASA will remain focused on its mandate of ensuring a robust economy.
Nkpemenyie Mcdominic, Lagos
Business
Food Vendors, Others Relocate To New Site At PH Airport
The raging controversy between the Port Harcourt International Airport Management and restaurants/canteen operators and theirallies over relocation has been brought under control, as the operators have commenced relocation to their structures at the new site.
Recall that there had been serious feud over a directive by the Manager of the airport, Mr. Michael Area, for food vendors and their allies to relocate to the new site.
They insisted that the new site was too distant and hence, would negatively affect patronage from customers, with possible loss.
They further also insisted that it wouldcost them much money to put up another structure, given the economic situation in the country, since the airport management did not build any structure for them, apart from providing the empty land they have to also pay for.
The situation had led to flexing of muscles, which made the Airport Manager to order for sealing of all shops, resulting in scarcity of food, as airport users could not find a place to eat, apart from the only Genesis fast food spot available.
As at last Friday, The Tide observed that most of the food vendors had transferred their structures to the new place, and had started doing business there already.
Meanwhile, customers have started settling down at the new location as they were seen patronising shops for foods and drinks, in spite of the distance.
Few of the remaining structures at the old site, The Tide further gathered, will also be removed as quickly as possible, and the owners are making efforts to get funds for the job to be done.
One of them, Mrs Aka Love explained that she was going to relocate to the new place before the end of March.
Currently, business activities at the old site have come to null, as the place which was usually a beehive of food, drinks and relaxation, has completely winded down.
By: Corlins Walter
Business
MOWCA Strengthens Maritime Crime Prevention
Secretary General of the Maritime Organisation of West and Central Africa (MOWCA), Dr. Paul Adalikwu, has stepped up interaction with the United States Government to lift restrictions placed on some member countries allegedly implicated in illicit shipping activities.
Adalikwu, who led a delegation from the MOWCA Secretariat to the US Embassy in Abidjan for a first leg of the strategic consultation aimed at promoting seamless participation of MOWCA countries in international trade within the global maritime space, reiterated the organisation’s commitment to the best ethical and lawful maritime practices.
Addressing the U.S Ambassador to Côte d’Ivoire, H.E Mrs Jessica Davis Ba, the MOWCA SG stated the organisation’s interest in promoting the International Ship and Port facility Security (ISPS) code which aims at enhancing security of vessels and their ports of call.
He expressed the commitment of MOWCA in promoting environmentally friendly, safe and cost effective shipping without any encumbrance that may limit the economic potential of member countries.
Dr Adalikwu recalled that at the instance of the U.S. Department of State invitation, MOWCA participated in the 2023 Registry Information Sharing Compact (RISC) Conference in Larnaca, Cyprus, on February 28–March 1, 2023, and a virtual meeting held on June 6 2023, with Mrs Jennifer Chalmers, Officer in change of Counterproliferation Initiative.
He recalled The U.S. DOS willingness to support MOWCA’s effort for preventive maritime security through the establishment of the Center for Information and Communication (CINFOCOM) with the aim to ensure a maritime situational awareness domain within MOWCA’s member states’ waters.
He added that MOWCA under his watch is committed to training and retraining of maritime practitioners and experts to enhance the human capital capabilities of member states.
The CINFOCOM will help prevent transnational crimes committed at sea like sanctions evasion by North Korea and other state actors, who exploit poor enforcement due diligence by ship open registries to circumvent United Nations and U.S. trade restrictions.
By: Nkpemenyie Mcdominic, Lagos
Business
Nigeria’s Public Debt Hits N97.3trn – DMO
The Debt Management Office (DMO) has hinted that Nigeria’s public debt increased by 10.7 per cent from N87.87 trillion in the third quarter of last year, to N97.34 trillion as at December 31, 2023.
DMO, in an update data released last Friday, said the increase in the debt stock was largely due to new domestic borrowing by the Federal Government to part finance the deficit in the 2024 Appropriation Act and disbursements by multilateral and bilateral lenders.
The office noted that the N97.3 trillion public debt comprises of domestic debt of N59.12 trillion and external debt of N38.22 trillion. The sum of $3.5 billion was used to service external debt during the review period.
“Nigeria’s Public Debt Stock as at December 31, 2023 was N97.34trillion or $108.229 billion. This amount comprises the domestic and external debt stocks of the Federal Government of Nigeria (FGN), the 36 States Governments, and the Federal Capital Territory (FCT).
“There was an increase of N9.43 trillion over the comparative figure for September, 2023, which was largely due to new domestic borrowing by the FGN to part finance the deficit in the 2024 Appropriation Act and disbursements by multilateral and bilateral lenders.
“At N59.12 trillion, total domestic debt accounted for 61 percent of the total public debt stock, while external debt at N38.22 trillion accounted for the balance of 39 percent.
“Consistent with the debt management strategy, Nigeria’s external debt stock was skewed in favour of loans from multilateral (49.77 percent) and bilateral lenders (14.02 percent) or total of 63.79 percent which are mostly concessional and semi-concessional.
“Whilst the DMO continues to employ best practice in public debt management, the recent and on-going efforts of the fiscal authorities to shore up revenue will support debt sustainability”, DMO stated.
By: Corlins Walter
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