Category: Business

The Lekki Deep Seaport at the weekend surpassed stakeholders’ expectations since the start of operations with the berthing of its largest vessel, a 300-meter Length Over All vessel.

The vessel christened CMA-CGM RABELAIS, with an impressive capacity of 6570 TEUs, started its journey from China.

The berthing of the record-making vessel, was contained in a statement issued on the official Twitter page of the Nigerian Ports Authority (NPA).

The statement said the vessel, christened CMA-CGM RABELAIS had an impressive capacity of 6570 TEUs.

It said the vessel would be discharging and loading export cargoes.

“The journey of the vessel originated from Shanghai, China and called at the Lekki Port,” it said.

In response to the development, the NPA Managing Director, Mr Mohammed Bello-Koko, said: “it is a testament to Nigeria’s drive in delivering cargo with ease and utmost efficiency.”

“The fact that this vessel was departing the country on the same day it berthed was a fulfillment of their promise to deliver speedy cargo dwell time,” Bello-Koko said.

He noted that this was done through improved efficiencies, and state-of-the-art machinery.

“I am delighted to assure you that we are committed to continuously improving on this milestone,” he added.

The statement quoted the Asst. Harbour Master for Lekki Port, Capt. Monday Gajere, as saying that the thorough navigation risk assessment involving pilots, tugs, and mooring gangs allowed for smooth berthing of the large cargo carrier.

Gajere said that the berthing of the large cargo carrier was a demonstration of the Authority’s readiness to handle such cargoes.

“This is to maximise the competitive advantages that Lekki Port deep draught and state-of-the-art equipment offers as Nigeria advances toward attaining port hub status,” he said. 

The Murtala Muhammed Airport (MMA) Command of the Nigeria Customs Service (NCS) has seized 23 packages of tramadol with a Duty Paid Value (DPV) worth N1.8 billion between January and March.

The Customs Area Comptroller, Mohammed Yusuf, at a news conference in Lagos on Wednesday, said that the pharmaceutical products were imported from India and Pakistan.

Yusuf listed the seized items to include 22 packets of tramadol (225mg) and 12 packets of tramadol (120mg) tablets.

According to Yusuf, the above seizures were recorded based on intelligence-driven operations within the airport.

He added that the tramadol tablets in their custody had been scheduled for handing over to the Commander of Narcotics, Murtala Muhammed Airport Command of the National Drug Law and Enforcement Agency (NDLEA).

“In the spirit of inter-departmental cooperation, this will further strengthen our collaboration in safeguarding our youths from the use of harmful substances which can endanger their lives and the environment.

“We shall intensify more efforts in making our communities a safer place for all of us to live,” he said.

On export, and for the period under review, he said that the command recorded exportation of goods worth N100.93 billion from the country.

“These exported goods include non-commercial and commercial foods with a total weight of 653 tonnes and Free On Board (FOB) value of N4.81 billion.

“The command is working hard to promote export businesses to boost forex earnings for the country,” he said.

The customs boss noted that the command generated a total sum of N21.4 billion as revenue in the period under review.

“It is pertinent to note that in the corresponding period of 2022, the command generated N17.5 billion which shows a progressive difference in the sum of N3.8 billion, depicting a 21.97 percent increase.

“It is worthy to note that the revenue activities of the command comprise importation and exportation of legitimate goods, goods under the ECOWAS Trade Liberalisation Scheme (ETLS).

He pointed out that in the area of stakeholder engagement, the command had maintained an open-door policy and had resolved a lot of issues of common interest with concerned stakeholders.

He appreciated esteemed partners in the clearance value chain for their unwavering support and also encourage them to always brace up for emerging challenges as they work together to move the nation forward.

“We appreciate the Comptroller General of Customs, Col. Hammed Ali (Rtd), and his management team for the necessary support to discharge their duties and officers and men of the command for their dedication and commitment to discharging their responsibilities,” he said. 

The Nigerian Ports Authority (NPA) has disclosed that 23 ships conveying assorted goods are expected at Lagos ports from May 15 to May 25.

The NPA listed the items expected at the port to include bulk sugar frozen fish, general cargo, base oil, bulk salt, bulk wheat, diplomatic, bulk fertilizer, container and petrol.

It also stated that 20 ships were already discharging general cargo, petrol, container, crude soya oil, bulk urea, bulk wheat, base oil, frozen fish, bulk sugar, bulk gypsum, propane/butane and frozen fish.

The authority added that one ship had arrived the port and was waiting to berth with container.

The Nigeria Employers Consultative Association (NECA) has urged the Federal Government to suspend the implementation of its proposed tariff increases in the manufacturing sector.

In a statement issued in Lagos, its Director-General, Mr. Adewale-Smatt Oyerinde, also called for the reversal of the 2023 Fiscal Policy Measures (FPM).

He advised the government to revert to the 2022 FPM roadmap designed to lapse in 2024.

The approved 2023 FMP includes Supplementary Protection Measures for the implementation of the ECOWAS Common External Tariff (2022 – 2026).

It includes increased excise duty on alcoholic beverages, cigarettes and tobacco products; introduction of excise duty on single-use plastics and Import Adjustment Tax levy on vehicles of 2000 cc and above.

Minister of Finance, Budget and National Planning, Mrs Zainab Shamsuna Ahmed confirmed President Muhammadu Buhari’s approval of the 2023 FPM on May 12.

NECA stated, however, that the newly-introduced FPM and tariff increases were not only worrisome, but also landmines for businesses in the affected sectors.

“While the government’s new FPM will largely affect manufacturers, it also has the potential to disrupt organized private sector’s value-chain with consequential effects on Nigerians as a whole.

“While we understand government’s revenue challenges, the proposed increases will spike production costs and reduce the competitiveness of Nigerian manufacturers in local and international markets.

“With recent reports of unemployment rate hovering above 40 per cent, the economy will be further hard-pressed to withstand the likely loss of jobs that will follow these increases,’’ NECA stated.

Its director-general stressed that the proposed increases, if implemented could aggravate smuggling and stifle growth of businesses in affected sectors.

Oyerinde added that it could promote the production of fake products, reduce purchasing power of Nigerians and ultimately reduce government’s projected revenue across board.

“With more than 60 different taxes and levies currently being paid by businesses, the best that government can do is not to overburden the sector or cause relocation of many more to other climes.

“With about 20 bills pending at the National Assembly with financial implications for businesses, government will do well not to overburden the organised private sector.

“The 2023 FMP, as proposed will neither promote economic growth nor achieve the long-term revenue projection of government,’’ Oyerinde stressed.