As part of efforts to fast track efforts to decongest the nation’s seaports currently burdened with excess of overtime cargo, the Comptroller-General of Nigeria Customs Service (NCS), Mr. Adewale Adeniyi, has unveiled a committee on disposal of overtime cargo. The initiative followed a meeting of the NCS with stakeholders on November 6 in Lagos convened […]
The Nigeria Customs Service (NCS) has reported the seizure of 13 trailer loads of foreign parboiled rice and 17 vehicles, among other notable items, worth N1,241,777,700 in October this year. The Service, in a statement published on its official X (formerly Twitter) account on Wednesday, quoted the Acting Comptroller of the Federal Operations Unit Zone […]
President Bola Tinubu has called for improved African countries’ commitment to the development of their nation’s maritime sector through the provision of critical infrastructure and investing in the ports towards facilitating cross-border trade in the continent. The President, who gave this charge on Monday in Lagos while declaring open the 43rd Annual Council Meeting and […]
…..Targets $2Bn Carbon Investments The Niger Delta Development Commission (NDDC) on Tuesday unveiled plans to unlock $2 billion carbon investment in the Niger Delta region using solar power as part of the management’s wider strategy to ensure power supply to communities in the region. The commission’s Managing Director, Dr. Samuel Ogbuku, who was quoted in […]
The Managing Director of the Nigerian Ports Authority (NPA), Muhammad Bello-Koko, has solicited the support of the Acting Comptroller-General of Nigerian Customs Service (NCS), Adewale Adeniyi, to decongest the Lagos ports and enhance trade facilitation in the nation’s seaports. He also canvassed the NCS’ collaboration in its current efforts to upgrade the facilities at the […]
The Nigeria Customs Service, NCS, at Tin-can Island, Lagos, has impounded two containers from India with tramadol and codeine concealment with Duty Paid Value, DPV worth over N550.3 million. The Command also disclosed that two suspected were arrested in connection with the seizure, with the importer offering over $54,330 (N50 million) to be set free […]
The Managing Director/Chief Executive Officer of Duport Midstream Company Limited, Dr. Akintoye Akindele, has opened up on a business dispute he had with the family of the late MKO Abiola, saying that insinuations that he engaged in fraudulent acts in the deal by his business rivals through cronies are unfounded and totally mischievous. Speaking on […]
A new quarterly report from Artemis, an ILS-focused publication, has indicated a huge $7.1 billion of catastrophe bond and related insurance-linked securities (ILS) issuance in the second-quarter of 2023, raising the H1 2023 issuance to a record of more than $10.3 billion. According to the latest data from the just published Artemis Deal Directory, the Q2 […]
…..grants approval to six firms for fuel importation in July The Federal Government on Monday gave ship owners operating on Nigeria’s waterways a three-month deadline to settle their accumulated taxes over the past decade, which run into billions of Naira in arrears. It threatened to bar the ship owners from operating in the country’s ports […]
…. first of its kind in Africa The Federal Government on Friday inaugurated Bollard Pull Tug Boats (vessels) at the Lagos ports acquired by the Nigerian Ports Authority (NPA) in furtherance of its sustained drive provide efficient domestic cargo needs, win back transit cargo from neighbouring countries and also to meet the maritime needs […]