Source: VanguardNG The Nigerian Electricity Regulatory Commission, NERC, has approved an increase of electricity tariff to N225 ($0.15) per kilowatt-hour from N68. This is a 300 percent hike and takes effect from April 1, 2024. However, it will be for urban consumers, also known as Band A consumers in the country. The Vice Chairman of NERC,…
Credit to Ship & Port A Director at the Nigerian Maritime Administration and Safety Agency (NIMASA) said the agency, under its former Director-General Bashir Jamoh, “totally lost focus” and is in need of “urgent rescue”. The Director, who spoke with SHIPS & PORTS on condition of anonymity, said over the past four years, NIMASA abandoned its core…
Credit to NTA President Bola Tinubu has approved the appointment of Dr. Dayo Mobereola to serve as the Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA) for a renewable term of four years. The appointment follows the exit of Mr. Bashir Jamoh, whose tenure recently expired. Dr. Mobereola holds a Ph.D, and an…
This is not the best of times for terminal operators as thousands of containers and imported vehicles remained un-cleared from Lagos ports. The Guardian gathered that over 9000 containers and 6000 imported vehicles are still trapped at the APMT and Tincan Island Container Terminal (TICT), thereby congesting the port. The abandoned cargoes have taken over…
The financial crunch currently hitting hard on the country can be eased with domestic solutions, provided President Bola Ahmed Tinubu could wade into the port downsides and rejuvenate the nation’s trade gateways. Investigations by The Guardian revealed that the current situation at the nation’s seaports largely fall short of the level of infrastructure and standard…
Customs Area Controller of Tin Can Island Port command, Dera Nnadi, said the command is faced with the big task of achieving 48 per cent of the N800 billion revenue target for the year in the remaining months to the end of 2023. Nnadi stated this as he assumed duty as the 20th area controller…
The Nigeria Customs Service (NCS) will henceforth keep over four per cent of the free-on-board value of imports for its operations in line with international best practice as provided by its enabling act. This is the first time since its inception the service will finance its statutory responsibilities from the revenue it generates as provided…
Developed countries are increasing ship financing, especially with the move to green shipping, while Nigeria is yet to disburse the Cabotage Vessel Financing Fund (CVFF) to enable indigenous ship ownership to grow the industry. According to a recent Petrofin Index for Global Ship Finance report, financing for green shipping is on the rise. The yearly…
The Nigerian Ports Authority (NPA) has assured navigational safety for all stakeholders operating legally in the Warri Pilotage District, despite the urgent need for breakwater reconstruction. This is just as NPA pilots enabled the safe berthing of inbound vessels – MT Zonda and MT Stellar as well as outbound vessel MT Duke, MT Vardar and…
Stakeholders have tackled Nigeria’s lack of preparedness towards decarbonising its maritime industry in line with the International Maritime Organisation’s (IMO) move to address challenges posed by climate change, especially the GreenHouse Gas (GHG) emissions in the shipping industry. This is coming after the Nigerian Maritime Administration and Safety Agency (NIMASA) joined other member nations of…
