In continuation of his resolve to galvanize port concessionaires and terminal operators into increasing their investments in port infrastructure equipment, the Managing Director Nigerian Ports Authority (NPA) Dr. Abubakar Dantsoho last week undertook an operational and investment campaign tour of Onne and Rivers port complexes. This visit which is coming on the heels of his earlier tour of Lagos ports of Apapa and TinCan signposts the current administration’s readiness to deepen Nigeria’s competitiveness in vessel and cargo traffic to match the needs of Nigeria’s huge population of over 200 million inhabitants.
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Nigerdock has completed an agreement with the Nigerian Ports Authority, NPA, for the commencement and expansion of Snake Island Port, an 85-hectare, multipurpose port facility comprising three terminals located within Snake Island Integrated Free Zone. The firm disclosed that in a statement, explaining that the approval for the project was granted in 2023 by the Federal Executive Council, which has oversight on the implementation of major infrastructure projects across the country. The statement added that the concession is for a period of 45 years with an optional extension.
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https://sweetcrudereports.com/nigerdock-npa-finalize-snake-island-port-45-year-concession-agreement/
Crude oil exports surged to N13.41 trillion in the third quarter of 2024, accounting for 65.44% of Nigeria’s total exports and propelling the country’s merchandise trade to an unprecedented N35.16 trillion, the National Bureau of Statistics, NBS has said. The value of crude oil exports reflected a sharp increase in global demand, rising by 98% from Q3 2023 and 16.76% from the previous quarter (Q2 2024). Non-crude oil exports, valued at N7.08 trillion, contributed the remaining 34.56%, with non-oil products alone accounting for N2.50 trillion or 12.21% of total exports.
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Assistant Comptroller General Charles Orbih has assumed duty as the new Zonal Coordinator of Zone ‘A’ Headquarters, Ikeja, Lagos, for the Nigeria Customs Service (NCS). The Zonal Public Relations Officer, Edeminam Akanineyen, disclosed this in a statement in Lagos. In his inaugural address, Orbih pledged to strengthen the zonal structure through teamwork, innovation and stakeholder engagement. He aligned his objectives with the policy focus of Comptroller-General Bashir Adeniyi, emphasising consolidation, collaboration and innovation.
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https://www.vanguardngr.com/2024/12/niwa-seeks-collaboration-with-states-for-safer-inland-waterways/
The Nigerian Shippers’ Council (NSC) has outlined the economic benefits of a proposed Nigerian Shipping and Port Economic Regulatory Agency Bill aimed at addressing long-standing challenges in the maritime sector. The proposed bill, which is under review, is set to revolutionize Nigeria’s maritime sector by reducing operational costs, attracting investments, and enhancing regulatory efficiency, industry stakeholders have revealed. Speaking at the 2024 Annual Conference and Awards of the Association of Maritime Journalists of Nigeria (AMJON) in Lagos, the Executive Secretary/CEO of NSC, Mr. Pius Akutah, said the bill would reduce costs, enhance port efficiency, and attract significant local and foreign investments.
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Ship owners under the African Ship Owners Association Nigeria (ASA-NG) have warned that Nigeria risks losing its leadership role in Africa’s maritime sector if the government does not take immediate steps to address the challenges facing local ship ownership. The warning comes as the African Continental Free Trade Area (AfCFTA) promises a boom in intra-African trade, but with it, a growing need for a robust fleet of African-flagged vessels to dominate these new trade routes. Speaking at the ASA-NG Scorecard themed: One Year After Shipownership and our Future Growth event in Lagos.
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