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Blue Economy Can Attract FDI, If … – Experts

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The Customs Area Controller of Kirikiri Lighter Terminal, Comptroller Timinadi Bomodi, has warned that the nation’s blue economy would not attract foreign direct investments (FDIs) without adequate data to guide investors.
Speaking at the 2023 JournalNG Port Industry Town Hall meeting in Lagos, Bomodi said automated processes and technology could be utilised in addressing the dire need for relevant data on various aspects of the sector which makes it easier for investors to understand the terrain.
He identified fishing trawler operations in the country as a sub-sector that requires optimum regulation and adequate data to guide the regulators, operators, government policies and spur Foreign Direct Investments
While stating that the Customs online portal, Nigeria Integrated Customs Information System (NICIS) II, allows for integration of other agencies, he stated that the blue economy should be explored as an ecosystem that leverages technology.
Also speaking at the meeting, Chief Abdullai Tony Dania, a Maritime Lawyer, called for due diligence and enactment of laws that will strengthen integration among government agencies.
According to Dania, there is a need for mandatory inter agencies and inter-ministerial collaboration, supported by statute to give impetus to the required technologically backed integration.
He stated that the Nigerian Customs and Excise is under the Ministry of Finance, but her operations are more under the marine and the blue economy.
Echoing similar sentiments, the Founder of National Association of Government Approved Freight Forwarders (NAGAFF), and Chairman of the occasion, Dr. Boniface Aniebonam, observed that automated processes of port agencies are fragmented.
Aniebonam, who was represented by the Registrar, NAGAFF Academy, Mr. Francis Omotosho observed that even the popular Customs Vehicle Identification Number (VIN) Valuation system and NPA’s electronic truck call-up system are fraught with the challenge of human interference.
The veteran freight forwarder suggested that technology could be utilised to alert Customs of overtime cargoes after 28 days at ports, thereby positioning the Service to expedite the evacuation of such cargoes.
On his part, the Chairman of the Association of Maritime Truck Owners (AMATO), Chief Remi Ogungbemi, advised that already established technological processes should be improved upon.
He also lamented that truck owners are equally being vilified when their trucks are seized along with consignments intercepted by Customs and other security agencies.
Earlier, the Publisher of JournalNG and convener of the conference, Mr. Ismail Aniemu, stated that technology has become part of daily life and automation has also become the norm.
Aniemu said Nigeria Customs Service is the best suitable to be the lead agency for a national single window project and most qualified to handle it with its more robust NICIS II platform.
In similar vein, some experts in the Nigerian maritime sector have advised the Federal Government to deploy the Webb Port model of port community system being used in neighbouring Benin Republic.
Giving an insight into the workings of the Webb Ports in Benin, Lanre Balogun, a Manager in charge of installation at Webb Fontaine Nigeria Limited, said the Port Community System has achieved seamless interactions between systems used by the port authority, customs and terminal operators from data exchange and logistics through billing and payment.

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Association Woos Govt, Coys On  Boat Operators  Employments

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The leadership of Bonny Maritime Boat Association has called on Rivers state Government and oil companies operating in the state to provide sustainable employment to unemployed boat Operators.
The Association also want the government, companies and other relevant employers of labour to provide trainings for boat Operators to enhance their skills
Safety Officer of the Association, Comrade Kingdom Kingsley made this known in  a  telephone interview with  The Tide.
He noted that most of the boat Operators and owners plying Bonny route lacks jobs due to the fleets of boats introduced by Bonny Road Transport that had taken over the passengers to the Island
He noted that passengers are no longer patronizing boats owned by the Association, thereby rendering the operators redundant
“Most of our operators can not afford to feed their families due to no jobs, we don’t want to indulge in crime, government should fix our members with  sustainable jobs to take care of their immediate needs”
He called on oil companies operating in the state to engage their skilled boat Operators in their companies to reduce the sufferings faced by the Association.
The Safety Officer called on the state government  to made funds available to unemployed youths in the state to start up business than roam the streets.
He noted that provision of funds to youths would reduce crime rates and reposition their mindsets for a better life
“The  youths of Rivers state are suffering, have no job to feed their families, thereby indulging in criminality daily”
“The youths need empowerment,  jobs,  recreational facilities and better things of life as citizens of this Nation”, Kingsley said.
CHINEDU WOSU
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FG Approves $1 Bn AFCFTA Credit Facility For Nigerian Exporters

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The Federal Government has approved a whooping $1bn credit facility to support Nigerian exporters and small scale businesses to take advantage of the African Continental Free Trade Area (AfCFTA) in order to boost production, competitiveness and intra-African trade.
The $1bn AfCFTA Adjustment Fund Credit Facility is also expected to address some of the financing gap being faced by Nigerian exporters and enhance the competitiveness of African businesses within the continental market.
The Minister of Industry, Trade and Investment, Jumoke Oduwole, disclosed this  during the second quarter 2026 meeting of the AfCFTA Central Coordination Committee held in Abuja.
According to a statement issued by the ministry’s Head of Press and Public Relations, Obilor-Duru Okechi, Oduwole said the financing facility represented a major opportunity for Nigerian businesses seeking to expand operations, modernise production processes and increase exports to African markets.
The statement partly read, “?The Federal Government has reaffirmed its commitment to accelerating Nigeria’s export-led growth agenda under the African Continental Free Trade Area, unveiling opportunities for businesses to access a US$1 billion AfCFTA Adjustment Fund Credit Facility aimed at boosting production, competitiveness, and intra-African trade.”
She noted that despite the progress Nigeria had made in implementing the continental trade agreement, many local businesses continued to face obstacles that limited their ability to take advantage of the single African market.
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“Many businesses still face challenges relating to export documentation, certification, standards compliance and market access,” the minister said.
She explained that the Federal Government was addressing these bottlenecks through enhanced trade facilitation measures, simplified AfCFTA guidance tools, stakeholder engagement programmes and stronger collaboration with institutions such as the Nigeria Customs Service and the Nigerian Export Promotion Council.
Oduwole stressed the need to strengthen Nigeria’s legal and regulatory framework by domesticating key AfCFTA protocols, particularly the Digital Trade Protocol, to position the country as a major player in Africa’s growing digital economy.
The minister also highlighted some of the gains recorded in Nigeria’s AfCFTA implementation efforts.
According to her, the expansion of Nigeria’s Air Cargo Corridor Initiative to Rwanda, increased collaboration with development partners and private sector players, as well as sustained engagement with state governments, were helping to deepen awareness and participation in the continental market.
In her welcome address and first-quarter update, the National Coordinator and Chief Executive Officer of the Nigeria AfCFTA Coordination Office, Mrs Patience Okala, provided details of the financing initiative.
Okala said the $1bn AfCFTA Adjustment Fund Credit Facility was targeted at large African businesses with a minimum financing capacity of $10m.
She revealed that the National AfCFTA Coordination Office was working closely with fund managers to facilitate access for eligible Nigerian companies and had begun assembling a pilot group of businesses to ensure that Nigeria maximised the opportunities provided by the facility.
Nkpemenyie Mcdominic, Lagos
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NIWA Harps On  Avoidance Of Leaking Boats

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The National Inland Waterways Authority (NIWA) has advised Nigerians against boarding boats that require constant bailing of water in the interest of their safety.
 NIWA Area Manager for Cross River and Ebonyi, Mr Stanley Onuoha gave this warning in an interview with Newsmen in Calabar.
Onuoha who spoke on waterway
safety, said that passengers should take responsibility for their safety by inspecting boats before embarking on any journey.
According to him, repeated scooping of water from a boat is a clear indication that the vessel may be leaking.
“If you are entering a boat and see people using a bailer to remove water, it is the first signal that the boat is leaking,” he said.
He urged passengers to check the integrity of boats, including seating arrangements and other visible safety features.
The Manager restated the importance of using safety jackets, saying that damaged jackets may fail during emergencies.
He further said that passengers should ensure that safety jackets were appropriate for their body sizes in order to guarantee effective flotation.
 Onuoha reiterated the need for passengers to fill manifests before departure to aid accountability during emergencies.
The NIWA official further advised travellers to monitor weather conditions and avoid boarding boats when the weather is unfavourable.
According to him, poor weather conditions can trigger strong tidal waves capable of affecting small boats commonly used on inland waterways.
He said that waterway journeys should be embarked upon between 6.00a.m and 6.00p.m for clearer visibility.
Onuoha said  the Authority had continued to sensitise riverine communities to the need for safety precautions during waterway journeys.
He stated that sustained awareness campaigns and enforcement measures had contributed to safety waterway safety in Cross River.
CHINEDU WOSU
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