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Shippers Decry Dominance of Shipments, Clearance of Goods by Foreigners

Posted by Finintell on Tuesday, 10 May 2016

The President, Shippers’ Association Lagos State, Jonathan Nicol, has said that hard times await Nigerian freight forwarders as foreign firms have taken over sourcing, shipments and clearing door-to-door contracts.

Nicol said this in an interview with the News Agency of Nigeria on Tuesday in Lagos.

According to him, a report reaching us indicates that outsourcing has taken about 75 per cent of the freight forwarders’ jobs as foreign firms take over outsourcing of raw materials for industries in Nigeria.

‘Maritime Industry Needs Skilled Manpower’

Posted by Finintell on Friday, 6 May 2016

The Director-General, Nigerian Maritime Administration and Safety Agency (NIMASA), Dakuku Peterside, has stressed the need for skilled manpower to spearhead the development of the nation’s maritime industry.

This is contained in a statement by the Head of Public Relations Department in NIMASA, Lami Tumaka, on Friday in Lagos.

The statement said that Peterside said this when he led a delegation to a meeting with the United States Commercial Service, West Gulf Maritime Association and the Texas Southern University, Houston.

Cargo Tracking Scheme to Address Anomalies at Ports

Posted by Finintell on Tuesday, 26 April 2016

The Nigerian Shippers' Council (NSC) said on Tuesday that the International Cargo Tracking Note (ICTN) was aimed at preventing revenue leakage, under-declaration, concealment and imposition of surcharges on cargoes.

ICTN also means Advanced Cargo Declaration (ACD).

The Executive Secretary of the NSC, Mr Hassan Bello, said this in a message to a one-day Enlightenment Seminar on International Cargo Tracking Note (ICTN).

The seminar was organised by the NSC for International Freight Forwarders Association (IFFA) in Lagos.

Customs Incorporate EFCC, ICPC, Shippers' Council in Auction Exercise

Posted by Finintell on Friday, 15 April 2016

The Customs Zonal Coordinator Zone `A’ of the Nigeria Customs Service (NCS), Assistant Comptroller-General Eporwei Edike, said on Friday that the service had included other government agencies in its auction exercise.

Edike stated this in an interview with the News Agency of Nigeria in Lagos on Friday.

The zonal coordinator said that the service took the measure to reform the auction exercise and make it more transparent.

‘Nigeria Must Stop Importing What it can Produce’

Posted by Finintell on Sunday, 20 March 2016

The Emir of Kano, Muhammadu Sanusi II, on Saturday said Nigeria must stop importing what it has in order to boost local industries and create jobs.

The Emir stated this in Kaduna while inaugurating the new Council Secretariat of the Kaduna Chamber of Commerce, Industry, Mines and Agriculture (KACCIMA).

Sanusi said the current economic crisis induced by the crash in global oil price, should serve as a wakeup call for the country to utilise its resources judiciously.

BoI Launches ₦10B Youths Entrepreneurial Support Project

Posted by Finintell on Friday, 18 March 2016

The Bank of Industry (BoI) has formally launched a N10 billion Youths Entrepreneurship Support (YES) project to empower youths with loans to start businesses.

Speaking at the launch of the project in Abuja, the Minister for Industry, Trade and Investment, Dr Okechukwu Enelamah, said that his ministry would partner all agencies of government to create new jobs.

He said that more than 40 per cent of Nigerian graduates had no jobs and that an average of eight million Nigerians entered the job market annually.

Bill on School of Mining, Geology Passes Second Reading

Posted by Finintell on Tuesday, 15 March 2016

The House of Representatives on Tuesday passed for the second reading, a bill to establish a School of Mines and Geological Studies in Edo as part of economy diversification efforts.

Leading debate on the bill, the sponsor, Peter Akpatason (Edo-APC), said that Nigeria was endowed with large deposit of solid minerals, including Lime Stone, Gemstones, Kaolin, Tin and Iron ore.

He said that mining currently accounted for a paltry 0.3 per cent of Nigeria's Gross Domestic Product (GDP).

Retail Council Appeals to CBN to Relax Forex Policy on Imported Goods

Posted by Finintell on Monday, 22 February 2016

The Retail Council of Nigeria (RCN) on Monday appealed to the CBN to relax its foreign exchange policy on imported items to sustain the growth of the retail sector.

The Secretary of the council, Kunle Hamzat, told the News Agency of Nigeria in Lagos that sustainability of the retail sector was being threatened by stringent policies of the apex bank.

"We understand that forex is not available and you cannot give what you do not have but in apportioning what is available, the retail sector is neglected.

Maritime Operators Express Concern Over 60% Decline in Trade Volume

Posted by Finintell on Wednesday, 10 February 2016

The Chairman, Association of Maritime Truck Owners (AMATO), Remi Ogungbemi, yesterday said trade volume at the nation’s ports had declined by 60 per cent.

Ogungbemi, who made the remark in an interview with the News Agency of Nigeria in Lagos, expressed concern about low business at the ports

He said that the increase in the exchange rate had reduced importation of goods, adding that this had consequently affected the haulage business.

Ogungbemi said that the situation had rendered truck owners redundant.

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