Maritime

LG Chairman Supports VAT Increase

Published

6 years ago

March 9, 2020

The chairman of Eleme Local Government Area, Hon. Philip Okparaji, has endorsed the recent increase in the Value Added Tax (VAT) by the Federal Government.
Okparaji said the VAT increase would generate more revenue for government, thereby helping in the payment of the new minimum wage.
The council chairman told The Tide in a telephone interview that the additional revenue would also help government in carry out meaningful projects that would be beneficial to the masses.
According to him, government must have consulted widely across sectors before taking the decision and signing same into law.
He advised all companies in the country to look at the long term effects of the increase and embrace the policy.
“I support it and l know that the additional revenue would be utilised for the masses, especially in carrying out meaningful projects”, he said.
In a related development, the Manager of Igwe & Co Consultants (a financial audit firm), Mr Silas Igwe, said the VAT increase would help the Small and Medium Enterprises (SMEs).
Igwe, who is a financial expert said the “increase is a good omen for Nigerian government”.
He, however, noted that the only way the increase can benefit the masses “is when government manages the added revenue well”.
He called on the government to ensure proper management and usage of the added revenue for the benefit of Nigerians.

Maritime

Nigerians Deserves Friendly Ports Taxation, Efficiency –Muda Yusuf

Published

2 weeks ago

July 27, 2026

The Tide

Nigeria’s quest for industrial growth and economic transformation depends largely on modern and competitive ports, efficient transport and logistics systems and affordable and reliable energy.

It also includes accessible and low-cost industrial finance, predictable and investment-friendly taxation, and efficient, transparent and business-friendly regulation.

CEO of Centre for the Promotion of Private Enterprise (CPPE), Dr. Muda Yusuf, stated this while speaking on ‘Nigeria’s Industrial Policy, Manufacturing Competitiveness and Economic Transformation’ at the 2026 Mid-Year Economic Review and Outlook Conference of the Lagos Chamber of Commerce and Industry (LCCI) in Lagos recently.

The CEO advised the Federal Government to invest in world-class ports for faster turnaround, lower charges and seamless trade while developing integrated transport networks to reduce costs, time and supply chain bottlenecks.

He also noted the need for the government to ensure steady, affordable power supply to drive industrial productivity and competitiveness while expanding affordable credit and long-term financing for manufacturers and industrial enterprises.

Dr. Yusuf maintained that government must provide stable tax policies that encourage investment, reinvestment and growth.

He urged the government to simplify processes, reduce bureaucracy and eliminate multiple charges and compliance burdens.

On productivity and innovation, Muda said for Nigeria to compete globally, the country must invest in digitalisation, technology adoption, skills and talents.

The CPPE CEO said Nigeria’s domestic market is one of Africa’s greatest advantages but no country achieves sustained industrial expansion by relying exclusively on domestic demand, pointing out that “the African Continental Free Trade Area (AfFTA) presents Nigeria with one of the greatest commercial opportunities in our history.”

According to him, our export success depends on the quality, pricing, reliability, delivery, compliance with international standards and productive efficiency.

“Nigeria’s future as an industrial nation depends on how strongly we compete beyond our borders,” he said .

He further noted that high inflation, exchange rate instability and persistent fiscal imbalances increase uncertainty and discourage long-term industrial investment, pointing out that the first responsibility of government is to ensure macroeconomic stability as manufacturers require a stable macroeconomic environment to plan investment, price product and manage risk.

By: Nkpemenyie Mcdominic, Lagos

Maritime

NSC Boss Advocates Stronger Collaboration Among Govt. Ports Agencies —As Experts Calls For Robust Framework

Published

2 weeks ago

July 27, 2026

The Tide

The Nigerian Shippers’ Council NSC, has called for stronger collaboration among government agencies operating at the nation’s seaports to eliminate cargo clearance delays, reduce cargo damage, and minimise the legal and financial disputes arising from prolonged port operations.

The Council has also assured that the newly enacted Port Economic Regulatory Law will address operational bottlenecks at the country’s seaports.

Executive Secretary/CEO of the Council, Dr Akutah Pius, MON, made the call while speaking during a technical session at the 18th International Maritime Seminar for Judges in Abuja.

Responding to discussions on the consequences of cargo delays and their legal and financial implications, Dr Akutah stressed that greater synergy among regulatory agencies is essential to improving operational efficiency across Nigeria’s ports.

He acknowledged that inefficiencies resulting from weak inter-agency coordination have continued to pose significant challenges to the nation’s shipping industry, leading to avoidable delays, increased costs, cargo deterioration, and protracted litigation.

Dr. Akutah noted that while some legal experts at the seminar advocated for legislation to protect port terminal operators operating under concession agreements, the proposed Nigerian Port Economic Regulatory Agency NPERA, Bill, which designates the Nigerian Shippers’ Council as the statutory Port Economic Regulator, is expected to provide the regulatory framework needed to address many of the operational and commercial challenges affecting port services and cargo clearance in Nigeria.

According to him, the proposed legislation will strengthen economic regulation within the port sector, promote efficiency, enhance accountability, and create a more predictable business environment for investors and port users.

The NSC boss also highlighted the importance of the International Maritime Seminar for Judges, describing it as a critical platform for strengthening judicial capacity in maritime law and improving the resolution of maritime disputes.

“The importance of maritime cases cannot be overemphasised. This seminar provides an important opportunity for judges handling maritime matters to deepen their knowledge while enabling stakeholders to identify areas requiring improvement for the growth of the sector,” he said.

He added that sustained engagement between the judiciary and maritime stakeholders would further support the development of Nigeria’s maritime industry by promoting faster and more efficient dispute resolution.

Dr. Akutah observed that delays in the adjudication of maritime cases discourage investment and undermine confidence in the nation’s judicial system.

“No investor will bring capital into a country where there is no confidence in the judicial system. Maritime disputes are often complex, time-consuming and expensive to resolve. One of the key objectives of this seminar is to promote alternative dispute resolution mechanisms that will ensure quicker settlement of maritime disputes and inspire investor confidence in Nigeria’s maritime sector,” he stated.

Earlier during the technical session, legal and maritime experts called for a robust legal framework to better protect terminal operators under Nigeria’s port concession regime while also ensuring a fair balance between the rights of investors, service providers and port users.

The 18th International Maritime Seminar for Judges, organised by the Nigerian Shippers’ Council in collaboration with the National Judicial Institute (NJI), continues to provide a platform for dialogue on contemporary maritime legal issues aimed at strengthening Nigeria’s maritime justice system and improving the ease of doing business in the country’s seaport sector.

By: Nkpemenyie Mcdominic, Lagos

Maritime

Customs Unveils Information File Tracker, Boosts Operational Efficiency

Published

2 weeks ago

July 27, 2026

The Tide

Nigeria Customs Service has unveiled a new Management Information System (MIS) File Tracker at its Port and Terminal Multi-Purpose Services Limited (PTML) Area Command, Lagos in line with ongoing efforts to deepen the deployment of technology in personnel administration with a view to enhancing the speed and efficiency of document processing,

Speaking at the unveiling ceremony, Comptroller General of the Service, Bashir Adewale Adeniyi MFR, said the initiative represents another milestone in the Service’s expanding modernisation agenda, which is focused on deploying digital solutions to improve operational efficiency, enhance transparency, and facilitate seamless trade.

The MIS is an Enterprise Platform for all Customs administrative processes that would serve as a Single Sign-On (SSO) application which enables one unified data set to be used across all departments administratively.

Represented by the Deputy Comptroller General in Charge of ICT /Modernisation, DCG Oluyomi Adebakin, the CGC reaffirmed the commitment of the Service to leveraging technology to transform its operations and improve service delivery.

Recall that DCG Adebakin had played key role in several landmark digital initiatives, including the Nigeria Trade Portal and the Customs Verification Management System.

The CG further noted that the deployment of the MIS File Tracker further demonstrates the Service’s resolve to embrace innovation in line with global best practices.

“The introduction of the MIS File Tracker will further strengthen the command’s reputation as a centre for innovation within the NCS with key features that promotes ease of administration”, the CGC further said.

He therefore urged Officers to utilise the application for key administrative functions, including Leave and Pass Applications; File Tracking; Duty Roster; Internal Staff Orders; Nominal Roll and other administrative processes.

It was gathered that the platform also provides avenues for feedback on areas requiring modifications, additions, and improvements.

The Customs boss expressed the hope that this current deployment would streamline internal workflows, reduce manual processes, and support data-driven decision-making processes across the Service.

Recall that the PTML Area Command, widely regarded as one of the most technologically advanced commands in the Service, has continued to serve as the preferred pilot location for cutting-edge Customs modernisation projects including the Unified Customs Management System UCMS, also known as B’Odogwu.

Acting Controller of the Command, Deputy Comptroller Nura Miko expressed optimism in the commands ability to successfully implement the rollout and serve as a model for customs innovation.

Miko stated that the command is maximising all technological backed trade facilitation initiatives made possible by the NCS Management.

The Acting Controller also disclosed that efforts are in place to further reduce the two- hour cargo clearing time record

By: Nkpemenyie Mcdominic, Lagos