Headlines

Lekki Deep Sea Port: Another Apapa port beckons

—–as Amaechi confesses FG too broke to connect seaport with rail

Eyewitness reporter

The Lekki Deep Sea Port, the first and biggest port facility in the West Africa sub-region, may become another Apapa port that is notorious for its malignant traffic gridlock.

This is because the multi-billion dollars port facility will not be after all linked with the much-anticipated rail line meant to decongest the already congested Lekki-Ajah road.

The Minister of Transportation, Rotimi Amaechi, has confessed that the Federal Government lacks the financial capacity to undertake such a rail project.

Amaechi make this startling revelation when he undertook an inspection tour of the port complex which is expected to be completed in June and functional by September, this year.

The Minister, who was in the company of the Managing Director of the Nigerian Ports Authority (NPA), Mohammed Bello-Koko, and the Permanent Secretary of transportation ministry, Dr Ajani Magdalene, lamented that in as much as he would have loved to link the port with the rail line, the paucity of funds has incapacitated the Federal Government to do so.

“As a Minister of Transportation, I imagined a lot of things that I could have implemented.

“I imagined that the Lagos-Calabar rail line would start from here, that was my imagination, but, the Lagos-Calabar rail project needs $11.1 billion funding but, there were no such funds at the moment for the project”, he lamented,

The Minister’s confession has now put paid to the expectation of industry stakeholders who advised and recommended that to avoid the recreation of the notorious Apapa gridlock at Lekki deep seaport, the facility, as a matter of expediency, must be connected with a rail line.

According to them, this is necessary in order not to further exacerbate the already congested Lekki-Ajah road.

However, the Minister advised the port contractors to invest in the rail sector, adding that the government will either do tax reduction or do something to help them.”Another advice I could give is if they want to invest, they can invest in rail and then the government will either do tax reduction or do something to help them.

“If we get the 11.1billion as it is, we would probably have to divert the rail line, because Lagos-Calabar rail line actually goes into Lagos city, we can divert it to come to the seaport in Lekki,” he stated.

The minister further disclosed that Lekki deep seaport, when completed and operational, would contribute $360 billion to the Nigerian economy over the course of 45 years.

He said the deep seaport was “a privately funded project, over time, they (contractors), will collect their revenue from the commercial activities before they hand over to the Federal Government.

“But obviously, taxes will be collected here, even they (contractors) will pay taxes, I am not sure there were any taxes mentioned in the agreement, but I doubt if there is any tax exemption.

“So, we will collect taxes here, the confidence in giving them the project is because of the taxes that we will collect here that will help us in the construction of other projects.”

Amaechi, further explained that the contractors will have to recover the money they invested in the project, stating that “in financial terms, in the process of recovering their money, they will contribute to the GDP of the nation annually”.

He said the project will contribute over “$360 billion over the years. It sounds much, but we actually need more of that money to accomplish what we want to achieve.”

On the expansion of the seaport, the Minister complained that the port was not spacious enough to accommodate high-level economic activities in years to come.

“It also depends on how much the economy will grow before then. The growth of the economy will put pressure on the expansion.

“The argument we had in the cabinet is that the need for a deep seaport at Lekki was a result of the fact that the demand for port activities in the country has exceeded the supply of Tincan and Apapa around Lagos.

“This is the first deep seaport in Nigeria, what we had all this while are river ports, the Tincan is a river port, the Apapa is a river port and port Harcourt.

“Right here you have 16.5 meters drafts which are good for the country, but the country needs more than just one of these ports because of the increase in commercial activities in the future.

“We need just more than Lagos deep seaport and for me, before I leave office, I will emphasise on the construction of the Bonny deep seaport,” he stated.Amaechi revealed that the deep port will be completed in June and operational by September 2022.

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Economy

Buhari, Jonathan, Obasanjo, Babangida, Abdusalami, Osinbajo, Atiku, others to spend N13.8billon from N27.5 trillion 2024 budget

Tinubu presentation of 2024 budget to the National Assembly

The Eyewitness Reporter

The Federal government has earmarked the sum of N13.8 billion in the 2024 budget as the cost of upkeep of
former presidents, vice presidents, heads of state, Chiefs of General Staff, retired heads of service, permanent secretaries, and retired heads of government agencies and parastatals.

The beneficiaries include former Presidents Olusegun Obasanjo, Goodluck Jonathan and Muhammadu Buhari, ex-vice-presidents Atiku Abubakar, Namadi Sambo and Prof Yemi Osinbajo.

Also expected to benefit from the windfall are ex-military Heads of State, General Yakubu Gowon and General Abdusalami Abubakar, as well as a former dictator and self-styled military President, General Ibrahim Babangida, and a former Chief of General Staff, Commodore Ebitu Ukiwe (retd.).

Also, N1tn was provisioned for the public service wage adjustment for government Ministries, Departments and Agencies (including arrears of promotion and salary increases, and payment of severance benefits and minimum wage-related adjustments).

A breakdown shows that the entitlements of former presidents/heads of state and vice presidents/chief of general staff will cost N2.3bn. At the same time, N10.5bn is proposed as benefits for retired heads of service, permanent secretaries and professors.

The payment of severance benefits to retired heads of government agencies and parastatals is proposed to cost N1bn.

Other allocations include N65bn for the Presidential Amnesty Programme for the reintegration of transformed ex-militants; N1bn for the Office of the Presidential Adviser on Energy; and N108bn for unnamed special projects.

The government is also proposing the sum of N40bn to offset electricity debts owed to power distribution companies by all MDAs.

President Bola Tinubu unveiled the N27.5 trillion budget estimates for the 2024 fiscal year.
The budget was presented to a joint session of the National Assembly on Wednesday, where it is currently undergoing scrutiny and deliberation for final approval.

In his presentation, he declared, “The 2024 Appropriation has been themed the Budget of Renewed Hope.

The proposed budget seeks to achieve job-rich economic growth, macro-economic stability, a better investment environment, enhanced human capital development, as well as poverty reduction and greater access to social security.

Customs

News Alert: Wale Adeniyi revives CG conference, holds 2023 edition December 13-15 in Lagos.

Wale Adeniyi, CGC

The Eyewitness Reporter

After 11 years of interregnum in the annual Comptroller General of Customs conference, Adewale Adeniyi, the Customs boss, has announced the rescucitation of the annual conference which holds December, this year.

In the social media broadcast, Adeniyi said he was delighted to announce that the 2023 CG Conference will hold from December 13th- 15th, 2023 at the Grand Africa Ballroom of the prestigious Continental Hotel, Victoria Island, Lagos.

The theme of this year’s conference, according to the CGC, is “Leveraging Data Analytics for Secure and Efficient Trade Facilitation in Customs Operations”.

The Vice President of Nigeria, Senator Kashim Shettima, is expected as the special guest of honour while the Governor of Lagos state, Mr Babajide Sanwo- Olu and the Minister of Finance and the coordinating minister of Economy, Wale Edun, are also expected to grace the occasion.

Adeniyi stated that this year’s conference will centre around the discussion on implementing new measures to enhance service operations, championing secure and efficient operations across the federation.

“In line with my efforts and that of my management team to modernize the Nigeria Customs service through leveraging technology-driven Customs to shape the future of our operations, I am inviting you to this year’s Comptroller General Conference scheduled for 13tg to 15th December 2023 at the Grand Ballroom, Continental Hotel, Lagos.

” The theme of this year’s conference is Leveraging Data Analytics for Secure and Efficient Trade Facilitation in Customs Service.

” We are embracing innovation, utilizing the power of analytics to ensure the security and efficiency of Customs Operations.

“This significant event will centre around discussion on implementing new measures to enhance the service operations, championing secure and efficient operations across the federation.

“It will serve as a platform for attracting new business stakeholders to our shore.

” Don’t miss this opportunity to be part of this renewed hope experience as we consolidate on the achievements of the past, collaborate with our stakeholders and of course, bring in innovation to drive Customs Operations.

“The conference will be graced by esteemed guests, including the Vice-President, Senator Kashim Shettima as the special guest of honour, the governor of Lagos State, Babajide Sanwo-Olu and the Finance Minister, Wale Edun” the CGC announced.

The CG conference is a platform for interaction where customs reviews its past operations and project for the future.

The last conference was held in 2012 in Katsina state.

Headlines

Ukraine blocks Russia’s reelection bid at IMO council elections

The Eyewitness Reporter

The world is gradually ostracizing Russia from the comity of nations due to its aggression against Ukraine.

At the council election of the International Maritime Organisation (IMO) held Friday, December 1st, 2023, Russia, for the first time since 1958, failed in its reelection bid into category A of the organization

The failure of Russia was masterminded by Ukrainian President Volodymyr Zelenskyy, who told the IMO General Assembly that Russia had no place in the August gathering.

Ukraine, which was not standing for election, had pushed for Russia to be ousted from the IMO Council.

“Russia has no place in the International Maritime Organization nor its governing bodies because no one in recent decades has caused greater harm to free navigation than Russia,” Zelenskiy told the IMO Assembly in a remote address on Monday.

Russia has been a member of Category A of the IMO and has consistently won reelection into the fold of the committee of countries with the largest maritime interests in the world.

But due to its war with Ukraine, the country has lost that revered place.

The outcome is another blow for Russia after it failed in its bid to return to the UN’s top human rights body in October, in an election seen as a key test of Western efforts to keep Moscow isolated.

Last year, Moscow also failed to win enough votes for re-election to the UN aviation agency’s governing council.

The London-based International Maritime Organization (IMO) is responsible for regulating the safety and security of international shipping and preventing pollution and comprises 175 member state countries.

Russia has been a member since 1958 and has been consistently re-elected to the IMO Council.

With voting on Friday, 40 countries were elected by secret ballot to the IMO Council, which supervises the work of the body.

They include China, Greece, Italy, Japan, Liberia, Norway, Panama, South Korea, Britain and the United States.

Russia’s IMO delegation told the Assembly earlier on Friday that it deserved its place on the Council.”A balancing and constructive role is what our country contributes, not just to this body, but to the Organization as a whole,” Russia’s delegation said in translated comments.

In October, Russia said the IMO was departing from its impartial role due to “external pressure” which it said was impacting the fair treatment of all member countries.

Meanwhile, the IMO Assembly on December 1st, 2021 elected the members of its Board for the two years 2024-2025.

Category A, which includes the ten nations that have the highest interest in providing international maritime services, have been China, Greece, Italy, Japan, Liberia, Norway, Panama, the Republic of Korea, the United Kingdom, and the United States.

In category B of the IMO Council, which is made up of ten nations that have the greatest interest in international maritime trade, representatives of Australia, Brazil, Canada, United Arab Emirates, France, Germany, India, Holland, Spain and Sweden.

Category C, is made up of 20 nations that have a particular interest in maritime transport or shipping, and whose election to the Board will ensure the representation of all major geographical areas of the world, including Saudi Arabia, Saudi Arabia, Bahamas, Bangladesh, Chile, Cyprus, Denmark, Egypt, Philippines, Finland, Jamaica, Indonesia, Kenya, Malaysia, Malta, Mexico, Morocco, Peru, Qatar, Singapore and Turkey.

After the thirty-third Assembly of the IMO, which will end next Wednesday, the following day the newly elected Council will meet for its 131st session and elect the President and Vice-President for the next biennium.