Business
Shippers Move To Resist High Port Charges

L-R: Deputy Leader, House of Representatives, Rep Akpan Umoh, Rep. Leo Ogor and Chairman, House Committee On Civil Society and Donor Agencies, Rep. Ini Udoka, at a public hearing on a bill to regulate the acceptance and utilisation of financial/material contribution of donor agencies in Abuja recently.
The President, Shippers Association, Lagos State, Mr Jonathan Nicol, has said its members would resist high charges by shipping companies and terminal operators.
Nicol said this in an interview with The Tide source in Lagos, against the backdrop of controversies between the Nigerian Shippers’ Council (NSC), shipping companies and terminal operators on port charges.
He said the shippers’ associations had been calling for a reduction in port and other cargo handling charges for many years.
According to him, it is not a good thing for Nigeria to be labelled as the most expensive in the world— in terms of port operations.
“We do not see why the terminal operators and the shipping companies should be desperate to continue with their way of doing business.
“We believe that we will come together and fight the case, if the need be,’’ Nicol said.
He said the shipping lines and terminal operators should know that without the shippers, without the cargoes, they would not raise invoices against anyone.
Nicol said, “We shippers would make up our mind whether to continue doing business in Nigeria or we look at how we can harmonise all the charges and get on with our business.’’
“Right now, some of the stakeholders said they would withdraw their services because of the high charges.
“It is something that affects all the stakeholders, down the line to the freight forwarders. So, shipping companies should not hold Nigeria to ransom”, the shipper said.
Nicol said the association was seeking ways of cancelling the payment of container deposits for local deliveries, adding that such deposits usually took a long time before shipping companies refund them.
He said that trucks of empty containers were usually lined up in terminals, while the terminal operators would not off-load the containers and kept on charging demurrage.
The shipper said it was mandatory for all terminal operators and shipping companies to take their empty containers, adding that not taking such containers had created a major traffic problem at the ports.
He said that 10 days were too long to refund container deposits, adding that the only exception was Grimaldi (terminal operator) that had been issuing container deposit cheques after seven days.
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Blue Economy: Minister Seeks Lifeline In Blue Bond Amid Budget Squeeze

Ministry of Marine and Blue Economy is seeking new funding to implement its ambitious 10-year policy, with officials acknowledging that public funding is insufficient for the scale of transformation envisioned.
Adegboyega Oyetola, said finance is the “lever that will attract long-term and progressive capital critical” and determine whether the ministry’s goals take off.
“Resources we currently receive from the national budget are grossly inadequate compared to the enormous responsibility before the ministry and sector,” he warned.
He described public funding not as charity but as “seed capital” that would unlock private investment adding that without it, Nigeria risks falling behind its neighbours while billions of naira continue to leak abroad through freight payments on foreign vessels.
He said “We have N24.6 trillion in pension assets, with 5 percent set aside for sustainability, including blue and green bonds,” he told stakeholders. “Each time green bonds have been issued, they have been oversubscribed. The money is there. The question is, how do you then get this money?”
The NGX reckons that once incorporated into the national budget, the Debt Management Office could issue the bonds, attracting both domestic pension funds and international investors.
Yet even as officials push for creative financing, Oloruntola stressed that the first step remains legislative.
“Even the most innovative financial tools and private investments require a solid public funding base to thrive.
It would be noted that with government funding inadequate, the ministry and capital market operators see bonds as alternative financing.
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