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FG Urged To Establish Maritime Varsity

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Corlins Walter

 

A maritime operator in the Eastern Ports, Kingsley Iheanacho, has called on the Federal Government of Nigeria to either upgrade the Maritime Academy, Oron in Akwa-Ibom state to a university, or establish a university, for the maritime sector.

Mr. Iheanacho, who spoke to the press in Port Harcourt said there is a dearth of technical and managerial manpower in the maritime industry, and that a conscious effort must be made by government and other stakeholders to address the problem.

He said, “There is no reason why Nigeria should not have a Maritime University or even upgrade the Maritime Academy Oron to a university status that can offer courses in diverse areas of study for the interested individuals and corporate organisations”.

Apart from the need to establish a maritime university, he said there was need for adequate funding to finance facilities and infrastructures, adding that, the Organised Private Sector (OPS) should equally show support to the project.

Iheanacho, who is also the General Manager of one of the Concessionaires and terminal operators in Calabar Port; the ECM terminals Calabar, further explained that some of the challenges facing the Private Terminal Operators include dilapidated and unserviceable infrastructure like roads and electricity.

He said that many of the terminals in the country are battling with increased occurrence of accidents and damage of infrastructure and reduction in cargo volume due to poor state of access and linkage roads.

Electricity and access to public power supply, he said, has been one of the major problems affecting terminal operators, despite the provision of same in the concession agreement.

Consequently, he said the terminal has incurred huge loses on overhead and running expenses in terms of alternative sources of power generation.

Another area of problem to private port operators is inadequate upgrade of terminal facilities to cope with advancement in technology. He suggested that attention should be paid on changing ship technology on Nigerian ports, like cargo handling features and requirement as well as ship type specialization and equipment among others.

The ECM terminal boss noted that since ship technology changes, there was the need for the terminal receiving such ship to upgrade its facilities and retain staff accordingly.

Iheanacho also made case for government to address all areas in the ports which would enhance efficient handling of operations as well as have multiplier effect to the economy.

The areas he pointed out for further concessioning include the towage services (Pilot Cutter, mooring boats and tugboats) and maintenance dredging, lighthouse, licensing of pilots.

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NSE Begins Week On Negative Note, Loses N19.49bn

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The Nigerian stock market began the week on a negative note as banking and consumer goods stocks, among others, triggered a N19.49bn loss.
At the end of trading on the floor of the Nigerian  Exchange Limited , the NGX All-Share Index dropped by 0.09 per cent to end at 43,270.94 basis points, while the market capitalisation declined to N22.58tn.
Market activities were mixed as the total volume of shares traded decreased by 30.19 per cent while the value traded rose by 34.05 per cent.
A total of 213.13 million shares valued at N2.36bn were exchanged in 4,105 deals, compared to 305.32 million shares worth N3.58bn in 4,450 deals last Friday.
FCMB Group Plc topped the traded stocks in terms of volume, accounting for 27.43 per cent of the total volume of trades while Airtel Africa Plc emerged as the most traded stock by value, representing 28.81 per cent of the total value of trades on the exchange.
14 firms gained compared to 21 losers.
AIICO Insurance Plc was the biggest gainer for the day, topping the gainers’ chart with a price appreciation of 8.57 per cent to N0.76 per share.
It was followed by LivingTrust Mortgage Bank Plc with a rise of 7.95 per cent, ending the day at N0.95 per share.
Analysing by sectors, three of the five major indices closed lower, led by NGX Oil & Gas (-0.56 per cent), NGX Consumer Goods (-0.23 per cent) and NGX Banking (0.18 per cent).
But the insurance (0.82 per cent) and industrial goods (0.002 per cent) indices gained at the end of trading.

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… Introduces TIES To Boost  Business Loan

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The Central Bank of Nigeria (CBN) has introduced the Tertiary Institutions Entrepreneurship Scheme (TIES), which provides undergraduates and graduates with a platform to access loans.
The TIES’ underlying aim is to provide access to capital for Nigerian undergraduates and graduates with innovative entrepreneurial and technological ideas from polytechnics and universities.
TIES intends to shift undergraduates and graduates away from white-collar job pursuits and towards a culture of entrepreneurship development for economic development and job creation.
In a national biennial entrepreneurship competition, the Developmental Component would be distributed in the form of awards to Nigerian polytechnics and universities.
The competition aims to increase undergraduates’ awareness and visibility of high-impact entrepreneurial/technological concepts, foster entrepreneurial talent hunts in Nigerian polytechnics and universities, and encourage commercially viable and transformative technologies.
Interested Nigerian polytechnics and universities shall apply to participate in the national biennial entrepreneurship competition on a dedicated online portal.
Outlining brief details of the project, potential impact and evidence of originality of project, CBN said it is an innovation for students entrepreneurs.

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CITN Applauds FG, Tax Authorities On Fiscal Policy Decisions

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The Chartered Institute of Taxation of Nigeria (CITN) has lauded the Federal Government and tax authorities on the giant strides made on fiscal policy decisions and tax administration measures initiated this year in the area of Finance Act 2021 and the introduction of TaxPromax solution.
President of the institute, Adesina Adedayo, who gave the commendation at the institute’s yearly award ceremony at the weekend in Lagos, assured the government and tax authorities of aligning with the measures and promised to provide professional thoughts and insights on ways through which they could achieve an efficient and effective Nigerian tax system.
Adedayo emphasised the need to address the database, adding that without knowing who the tax-payers are, there is no way they can take money from unknown tax-payers.
Database is the aspect we have been emphasising on as an institute and in doing this, there are so many of pockets of data we have. All the data must be harmonised to have a simple unique tax-payers identification number,” he said.

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