Business
…As Onitsha Chamber Hails NPA’s 10% Discount On Vessels
The Onitsha Chamber of Commerce, Industry, Mines and Agriculture (ONICCIMA), yesterday lauded the Nigerian Ports Authority (NPA) for approving 10 per cent discount on vessels calling at the Eastern ports.
The First Deputy President of ONICCIMA, Mr Chris Ukachukwu, gave the commendation in an interview with The Tide source in Onitsha.
Ukachukwu said that the action would decongest the Lagos ports.
Reports says that the management of the NPA had yesterday approved a 10 per cent discount on harbour dues in the concessioned terminals of Calabar, Rivers and Delta Ports.
Ukachukwu said that once implemented, it would help decentralise activities at the Lagos ports and at the same time, create significant economic activity in the various locations of the Eastern ports.
“It will stimulate economic activities at the Eastern ports of the country and will also stem the urban drift. As it is now, it appears as if for you to do anything, you must go to Lagos. The implication is that Lagos becomes overpopulated, while other parts of the country will see the drift which was not the original plan of the country.”
“The idea was that the various economic hubs in the country within the six regions must develop simultaneously, so that wherever you are, you have that sense of belonging,” he said.
According to the ONICCIMA boss, the new policy will reduce the cost of transportation as well as reduce inflation.
“Most times, to transport goods from Lagos ports to the Eastern part of the country cost as much as N600, 000 or more.
“Importers will have no option than to add the cost of transportation to the prices of goods which permeates down, such that prices of goods keep skyrocketing.
“However, once importers know that it will cost less than one third of the previous amount to get the containers to any part of the Eastern region, it will positively affect prices of goods,” he pointed out.
Ukachukwu also called for legislation by the National Assembly to regulate the activities of customs and Police personnel, especially on the highways.
He said that in spite of several announcements that the Federal Government had withdrawn customs and Police officers from the roads, they return within one week or two.
“When you travel from Lagos to the East for instance, you will encounter lots of check points mounted by the Police and Customs which are often targeted at importers.
“For them to stay on the roads mean multiple taxes and creating difficulty for businessmen.
“But, if there is a legislation that will further regulate the activities of these law enforcement agencies, it will create the desired impact needed in the country.
“Officers can easily incur the wrath of the law if they flout the law,” he stressed.
Ukachukwu noted that the initiative was a win-win situation for all Nigerians as the demurrage usually incurred and time wasted at the Lagos ports would reduce.
He advised the NPA to create awareness on the new directive to enable Nigerians to begin to divert their goods to the Eastern ports.
Business
NCDMB Hails Tinubu’s Oil Sector Executive Orders
The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Felix Omatsola Ogbe, has commended President Bola Ahmed Tinubu over the announcement of three Presidential executive orders.
The orders, he said, are aimed at providing incentives in the Nigerian oil and gas industry, encourage new investments in the sector, reduce contracting costs and timelines, as well as promote cost efficiency in local content requirements.
According to a statement from the NCDMB’s Directorate of Corporate Communications and Zonal Coordination, the Executive Orders are the “Oil and Gas Companies (Tax Incentives, Exemption, Remission, ETC) Order 2024”, “Presidential Directive on Local Content Compliance Requirements, 2024 (EO 41)”, and the “Presidential Directive on Reduction of Petroleum Sector Contracting Costs and Timelines, 2024 (EO 42)”.
Speaking at the Nigerian Content Tower, headquarters of the NCDMB in Yenagoa, Bayelsa State, the Executive Secretary stated that the policy directives had reinforced the implementation of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act and codified the Service Level Agreements (SLA), which the NCDMB first introduced in May 2017, to fast-track approvals for the Nigeria LNG Limited Train 7 project, before expanding it to the entire industry after signing a Memorandum of Understanding (MoU) with the Nigerian National Petroleum Company Limited (NNPC Ltd), and five international oil-producing companies in September 2023.
Ogbe clarified that the Presidential Executive Orders did not whittle down the powers of the NCDMB or abrogate the schedule of the NOGICD Act.
He said, rather, the Executive Order 41 mandates the Board to ensure the patronage of local companies with domiciled proven capacities and capabilities to achieve cost competitiveness and project delivery within schedule.
He also noted that Executive Order 42 re-emphasized NCDMB’s obligation to fast-track approval processes as required by the SLA and section 23 of the NOGICD Act, which mandates the Board to review projects’ documentation within 10 days and advise the concerned operating company.
The Board’s helmsman assured that the NCDMB would comply with the terms of the Presidential Executive Orders, insisting that the Board had always been pragmatic with its implementation of the NOGICD Act, and mindful of the cost competitiveness of projects and schedules.
He also stated that the objectives of the Executive Orders and the SLAs were directed to shorten the oil industry’s contracting cycle to six months or less, engender speedy development of new projects, contribute to increased oil production, and improve the national economy.
The Executive Secretary expressed delight that President Tinubu had put his stamp of authority on the noble objectives of the SLAs, and commended him for acknowledging the giant strides recorded in Nigerian Content development.
Particularly, he noted the impressive capacities built by local oil and gas service companies in key areas of the industry and the substantial benefits that had accrued to the Nigerian economy and her citizens through local content implementation.
The NCDMB boss assured that the agency would continue to serve as a business enabler and maintain the recognition conferred by the Presidential Enabling Business Environment Council (PEBEC), which awarded the Board the most efficient agency amongst all Federal Government’s MDAs in 2022, and the PLATINUM rating by the Bureau for Public Service Reforms in recognition of the self-imposed reforms of the Board’s processes.
Ariwera Ibibo-Howells, Yenagoa
Business
Nigeria Opens Land, Air Borders With Niger Republic
President Bola Tinubu has directed the opening of Nigeria’s land and air borders with the Republic of Niger.
He also directed the lifting of other sanctions against the country with immediate effect.
A statement signed by the President’s Special Adviser on Media and Publicity, Ajuri Ngelale, said “President Tinubu has also approved the lifting of financial and economic sanctions against the Republic of Guinea”.
The statement is titled “Nigeria opens land and air borders with Republic of Niger, lifts other sanctions”.
The President’s directive has come just days after the ECOWAS Authority of Heads of State and Government lifted economic and travel sanctions on Niger, Mali, and Guinea at its extraordinary summit on February 24, 2024, in Abuja.
ECOWAS leaders had agreed to lift economic sanctions against the Republic of Niger, Mali, Burkina Faso, and Guinea.
Consequently, the President directed that sanctions imposed on the Republic of Niger be lifted immediately alongside others.
The sanctions are: “Closure of land and air borders between Nigeria and Niger Republic, as well as ECOWAS no-fly zone on all commercial flights to and from Niger Republic.
“Suspension of all commercial and financial transactions between Nigeria and Niger, as well as a freeze of all service transactions, including utility services and electricity to the Niger Republic.
“Freeze of assets of the Republic of Niger in ECOWAS Central Banks and freeze of assets of the Republic of Niger, state enterprises, and parastatals in commercial banks.
“Suspension of Niger from all financial assistance and transactions with all financial institutions, particularly EBID and BOAD.
“Travel bans on government officials and their family members”, the statement read.
Business
FG Targets Standards For Electric, CNG Vehicles
The National Automotive Design and Development Council (NADDC) has announced plans to validate its National Occupational Standards for the conversion and maintenance of electric vehicles and Compressed Natural Gas (CNG)vehicles.
The Director-General of NADDC, Joseph Osanipin, disclosed this during the validation workshop exercise for the draft of the national standards for auto gas vehicles in Nasarawa recently.
He stated that the primary objective of the workshop was to develop a blueprint for skills development and standardised operational procedures in the conversion, calibration, and maintenance of those new automotive energy sources, aligning with the government’s renewed hope agenda.
Osanipin noted that upon approval of the draft by the National Assembly, it would facilitate job creation and reduce greenhouse gas emissions, as ongoing plans include the establishment of more CNG gas stations in Abuja.
He said, “If we achieve what the Federal Government wants us to achieve with autogas, it will reduce the dependency on PMS and diesel and mitigate environmental concerns. It will also create more jobs and wealth for the nation”.
According to Osanipin, the essence of the workshop was to ensure that the input of all relevant stakeholders was captured in the making of this national document.
“This is in line with international best practices. It is expected that the document will come out of this effort at international standards and help to drive the auto sector to global standards”, he added.
He emphasised the significance of the Nigerian Automotive Industry Development Plan 2023 – 2033, relaunched by the Federal Government in 2023, aimed at revitalising the automotive industry and fostering sustainable growth through technological and skills development.
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