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‘Fuel Crisis: Inflation Imminent’

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The Statistician-General of the Federation, Mr Simon Harry, says the present fuel crises being experienced across the nation may have adverse effect on inflation rate.
He said this yesterday in Abuja at a media conference to announce the January 2022 Consumer Price Index (CPI).
Harry said that the fuel crisis would create an artificial shock in the economy and that the shock was capable of shaking the economy.
“Whether we like it or not, transporters will be taking advantage of the situation, thereby, increasing the costs of transportation.
“As you are bringing your commodities to the market for sale, you will be thinking of adding some amount on the selling costs so that you will be able to recover the costs of transportation.
“So that gives us a negative signal that is capable of affecting not just inflation rate, but also other macro-economic variables such as the Gross Domestic Product (GDP) and even the unemployment rate.
“I can however, assure you that certainly it is not the best for the economy and if we must maintain a stable macroeconomic environment, this kind of crisis certainly is not the best for it is not needed.’’
He added that because the economy was strongly being driven by the private sector, the shock may affect a good number of private businesses as they may not be able to run effectively as expected.
He, however, said that the February inflation rate could not be predicted based on the present fuel crisis as the numbers were still being collected.
On the present rate, the statistician-general said that CPI for January was 15.60 per cent from 15.63 per cent recorded in December 2021.
However, on year-on-year basis, it was 0.87 per cent points lower than the rate recorded in January 2021 (16.47) per cent.
Harry said that the headline index increased by 1.47 per cent in January, 0.34 per cent points lower than 1.82 per cent recorded in December 2021.
According to Harry, core inflation for January was 13.87 per cent, the same with that of December 2021, while food inflation for January was 17.13 per cent compared to 17.37 per cent in December.
He also said that urban inflation rate stood at 16.17 per cent year-on-year in January, same with that of December 2021.
“On the other hand, rural inflation was 15.06 per cent and 15.11 per cent in and December, 2021 respectively.
“On state by state comparison, all items inflation on year-on- year basis was highest in Abuja with 18.59 per cent followed by Kogi with 18.28 per cent and Bauchi 17.61 per cent.
“On the other hand, Kwara recorded the lowest with 12.94 per cent followed by Niger with 14.10 per cent and Oyo, 14.19 per cent.’’
Harry added that composite food index rose by 17.13 per cent in January 2022, compared to 20.57 per cent in January, 2021.
The rise in the food index was caused by increases in prices of bread and cereals, food product such as potatoes, yam and other tuber, soft drinks, oils and fats, and fruits.
“On month-on-month basis, the food sub-index increased by 1.62 per cent in January,, which was down by 0.57 per cent points from 2.19 per cent recorded in December, 2021.

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10 Ships With PMS, LNG, Others Arrive Eastern Ports, Today …Lagos Port Hosts 5 Ships With Frozen Fish

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The Management of Nigerian Ports Authority (NPA ) says a total of ten ships laden with different cargoes will arrive three Eastern Ports today.
The Ports are Onne, Calabar and Warri Ports, all located in South-South of Nigeria.
Vessels for Warri Port as Elizabeth A Spirit, Ozuchukwu, Akor, MT Picton and ST Walga, while those due for Calabar and Onne Ports are African Marvel, Asian Pride and Maersk Cubango.
Others are LNG Rivers and LNG Enugu for Onne port respectively.
This was contained in the Authority’s weekly Shipping Position, copy of which was made available to newsmen.
Names of the shipping Agents for Warri Port are Amco, Admiral, Pinapat, Blue seas and Kach, while that of Calabar is Allray Maritime Services.
Onne Port has Samcham, Maserk Nig Limited, West Atlantic Port services Nig Limited, and Comet Shipping Services as agents.
The statement added that the ten ships are laden with Premium Motor Spirits (PMS), Crude oil, LNG, Bulk Fertilizer, Containers, Inballast, and Float Glasses.
In the same vein, Lagos Ports will receive five ships laden with Frozen Fish, while sixteen ships would discharge their bulk cargoes.
NPA said out of 21 ships expected to arrive at the ports,16  are have bulk cargoes, while five are carrying Frozen Fish.
Other cargoes in the 16 ships include general cargo, bulk sugar, container, butane gas, petrol, bulk gypsum, jet fuel and automobile gasoline.
The NPA said the ships were expected to arrive at the ports from May 14 to May 26,2022
It stated further that 12 other ships had arrived at the ports and waiting to berth with bulk sugar, bulk salt, bulk wheat, bulk fertiliser, petrol and base oil, adding that 19 other ships were at the ports discharging bulk cargoes.
The bulk cargoes include, wheat, General cargo, frozen fish, bulk salt, ethanol, bulk sugar, container and petrol.

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FG Urges IMO To Retrain Port State Control Officers

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Worried by lack of training and re training of personnel in Ports State Control in Nigeria’s maritime industry, the Federal Government has charged the International Maritime Organisation (IMO) to remain committed to the training and retraining Ports State Control Officers.
This, the Government said, is in a bid to aid effective and efficient examination of substandard ships in West and Central Africa.
Permanent Secretary, Federal Ministry of Transportation, Dr. Magdalene Ajani, stated this in Lagos during the regional workshop for Heads of maritime administrations in West and Central Africa.
She enjoined Port State Control Officers in the region to acquaint themselves with new trends, innovations, inventions, and topical issues in their field.
“One of the yardsticks for measuring an effective MoU is its ability to ensure a harmonised system of Port State Control, strengthen cooperation, as well as information exchange amongst members with the ultimate aim of preventing the operation of substandard ships within the MoU region.
“This workshop/training, which will keep participants abreast of current events, innovations, inventions, and topical issues in the industry, couldn’t have come at a better time than now when the Abuja MoU is striving to become the enviable MoU in terms of quality of service and performance amongst the nine regional MoUs. I commend the Secretary-General and secretariat of the Abuja MoU.
“The essence of port state control is to inspect foreign ships in national ports to verify the condition of the ship and its equipment and ascertain that she is manned/operated in compliance with the requirements of international conventions/regulations to ensure maritime safety and security and prevent pollution of the marine environment.
“To this end, regular training and retraining of port state control officers are key in ensuring that they display a high level of professionalism and skill in the conduct of inspections on board ships calling at their ports.
“I, therefore, wish to urge the heads of maritime administrations here present to ensure that similar training(s) as this is replicated for Port State Control Officers in your respective administrations.
“It should be noted that the Abuja MoU is not tied to one Member State alone. All Member States here present are critical stakeholders of the MoU.
“Therefore, we must all join forces and strive to ensure that we constantly uphold the ideals and objectives upon which the MoU was established. For this reason,
“I urge all member states to play their part in contributing to the growth of the Abuja MoU, so that we can constantly meet expectations and safeguard our marine domains.
“I wish to encourage every member state that has not ratified and domesticated the Abuja MoU relevant instruments, which include the IMO and ILO conventions/codes for PSC to do so promptly, so that we can move with the tide of the IMO,” Ajani noted.

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Navy Boosts NDLEA Operations With Two Speed Boats

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In a bid to check the ills of anti narcotics in Nigeria, the Nigerian Navy Service (NNS), Western Naval Command, Apapa, has donated two Epenal boats and other operational equipment to National Drugs Law Enforcement Agency (NDLEA).
Speaking at the handover ceremony, Chairman/Chief Executive of the NDLEA, Brig. Gen. Mohamed Buba Marwa (Rtd), said the ongoing  synergy between the anti-narcotic agency and other stakeholders, especially the military, will further tighten the noose on drug cartels and spell doom for their activities in the country.
The NDLEA boss, who was represented by the Director of Seaports Operations, Omolade Faboyede at the event, described the gesture as symbolic and beginning of an era of stronger ties between both institutions.
“The agency is determined to cripple the activities of drug cartels on every front.
.”We do not doubt that the combination of naval and narcotics strategies will spell doom for drug barons in the coming days. NDLEA will continue to partner with relevant stakeholders as we tighten the noose on drug criminals.
“I am particularly pleased with the prompt response to my request for materiel that could help to strengthen the Marine Unit of NDLEA as part of a sweeping effort to protect Nigerian waters from the trafficking of illicit drug substances.
“The synergy between the Navy and NDLEA, as exemplified by this ceremony, is a testament that we are winning the drug war on the waterfront within the broad goal of preventing drug cartels from smuggling narcotics into our country through airports, land borders, and seaports”, he said.
He continued that “we have come to a point where security organisations can no longer afford to work in silos. Illicit drug trafficking, as a transnational organised crime, requires the deployment of intelligence and close-knit collaboration with key stakeholders like the Nigerian Navy and other security organisations.
“In our effort to stem the tide of narcotic drugs, we have gone the extra mile and that includes the pursuit of synergy with organisations in the security sector,” Marwa said.
Citing some gains of partnership with other stakeholders in 2021, he stated that “so far, our efforts in one year showed that the strategy is effective.
“In 2021, we recorded the arrest of more than 12,300 suspected drug offenders, including seven drug barons with 1,400 drug traffickers jailed.
“We were able to also counsel and rehabilitate 8,000 drug users and in the same period, we mopped up over 3.4 million kilograms of assorted drugs. Interestingly, drugs and illicit proceeds of drug crime worth N130 billion were successfully recovered.
“This year equally started on an excellent footing. We broke our first quarter operational record with the arrest of over 3,539 suspected drug traffickers (including rogue security personnel and a well-known billionaire baron), and the seizure of more than 65,916 kilograms of drugs”, Marwa said
While thanking the Chief of Defence Staff, Gen. Lucky Irabor, and other service chiefs for supporting the nation’s drug war, Marwa expressed confidence that the partnership with the navy would produce “more outstanding result’s in the fight against narcotic drugs and psychotropic substances.”

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