The Nigerian Maritime Administration and Safety Agency (NIMASA) has retained the revised Offshore Cargo Handling and Operations Stevedoring rates contained in the Second Schedule of the NIMASA Stevedoring Regulations 2014. The renewal of the rates, which had been reviewed downward for a period of six months, is part of the agency’s sustained efforts to mitigate […]
The Minister of Finance, Budget and National Planning, Dr. Zainab Ahmed, has described Nigeria’s recovery from the COVID-19 pandemic as encouraging, stressing that things are now looking up for the country in view of the recent trajectory by the economy. The minister, who made this remark during the opening ceremony of the 2021 Conference of […]
A leading economist and Chief Executive Officer of Centre for the Promotion of Private Entreprise (CPPE), Dr, Muda Yusuf, has charged the Federal Government to adopt appropriate policy measures to mitigate the growing challenges of business operators in the economy as a desirable step towards sustaining the modest recovery of the nation’s economy in the […]
The Federal Government has approved zero import duty for interested investors on acquisition of vessels. Director General, Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Bashir Jamoh, made this disclosure Tuesday at the maiden edition of the Nigeria International Maritime Summit (NIMS) in Lagos. According to a news report by the News Agency of Nigeria […]
The House of Representatives Committee on Customs on Tuesday gave the Nigerian Customs Service (NCS) two weeks to reduce its 18 cargo clearing stages to four in order to decongest the nation’s ports. The committee, which passed the resolution after an interactive session with stakeholders in Abuja, insisted that the Comptroller General of Customs (CG), […]
Nigeria and other African countries are reported to be annually losing as much as $3.8 billion to erosion, pollution and other environmental and health threatening issues. A new research document just published by Nature and the International Support Network for African Development (ISNAD-Africa) in partnership with World Wildlife Fund raised concerns over the alarming rate […]
The Nigerian Ports Authority (NPA) has announced plans to commence a new licensing regime for the operation of barges across the nation’s seaports through a regulatory framework. The guidelines, which are under a new Standard Operating Procedure (SOP), must be complied with by all operators with effect from September 1, 2021. A statement issued by […]
The Nigerian Maritime Administration and Safety Agency (NIMASA) has hinted of its plans to immediately flag-off of an intensive wreck removal exercise in Nigerian waters as part of its statutory responsibility of making the waterways business-friendly and environmentally clean. The agency’s Director General, Dr. Bashir Jamoh, made this disclosure during a ministerial retreat organised by […]
Analysts at Russell Group’s ALPS Marine platform have projected that the partial closure of China’s port of Ningbo may threaten $172 billion worth of global trade and the export of $39.2 billion worth of Integrated Circuit Boards (ICBs). According to the Freightos Baltic global container freight index, already the cost of shipping from China and […]
The United States’ cumulative insured property losses last year have been estimated to be over $68 billion in 2020, as 19 catastrophe events with each leading to more than $1 billion in claims hit the country during the year. A news report by artemis.bm, a research firm specialising in catastrophe bonds, insurance linked securities, reinsurance […]