Headlines

BUA purchases two ships to improve logistics

Bundu, one of the two vessels

One of Africa’s emerging food companies is joining the shipping world acquiring two bulk carriers to better manage logistics in its emerging business. The company becomes one of an increasing number of food companies that have been seeking stronger control of their logistics.

BUA Foods, headquarter in Lagos, Nigeria was created in 2021 through the consolidation of five operating units into a single publicly-traded company.

Owned by one of the rich men in Africa, Abdul Rabiu, and his son, the company produces flour, pasta, sugar, rice, and edible oil.

The group currently has two modern, automated sugar refineries located in Lagos and Port Harcourt. Originally started in 2005, the company today has over 170,0000 acres of land to set up large-scale sugar plantations.

The company recently has taken delivery of the first of two bulk vessels to augment its sugar export operations to the West African market.

Built in 2003 by Mitsubishi in Japan, the vessel was renamed Bundu after the area in which the refinery is located. Registered in Panama, the 16,765 dwt vessel is 442 feet in length. According to the company, the vessel’s cargo capacity is suited to enhance quick and sustainable delivery of more refined sugar in the face of growing export demand from across the African region.

“As we drive our business for growth with a focus on sustainable returns, and benefit to all our stakeholders and the Nigerian economy, owning a shipping vessel is an important step in BUA Foods strategy,” said the Chairman of BUA Foods, Abdul Samad Rabiu.

“We see an increased and continued demand for refined sugar across the region with the attendant increase for logistics support to aid timely delivery, which is why it is important for us to strengthen our current capability with an own-controlled asset as we advance further in our business strategy. These new vessels will create operational efficiencies in our business and open possibilities for new services.”

The refined sugar is processed from BUA Foods’ sugar refinery located in Port Harcourt. The refinery has a capacity of 750,000 metric tons and is equipped to process all grades of sugar. The vessel will berth at BUA’s port and terminal increasing export capacity while reducing operating costs.

“Owning a vessel to export sugar is a crucial enabler of flexibility and agility in our total supply chain as it allows our customers to tackle time-critical fulfillment challenges due to timely availability of their goods,” said Ayodele Abioye, Managing Director of BUA Foods.

The first vessel, Bundu, is now operating from Nigeria. The second vessel is expected to arrive by the end of the second quarter of 2022. It will be used to promote cross-border trade to businesses across the West African region and other African countries.

Customs

Tinubu celebrates Adeniyi on his 59th birthday

–lists his achievements

Funso OLOJO

President Bola Ahmed Tinubu has joined millions of well wishers across the globe to celebrate Adewale Adeniyi, the Comptroller-General of Customs, Adewale Adeniyi as he turns 59 years on Sunday, January 19th, 2025.

In his birthday message made available through his Special Adviser on information and strategy, Bayo Onanuga, Tinubu lauded the innovative and inspiring leadership of Adeniyi which he noted has impacted greatly on the image and performance of the service.

While listing the achievements of the customs in terms of revenue generation, trade facilitation, automation and digitization of the service, anti- smuggling activities as well as bolstered staff morale under the dexterious guidance of Adeniyi, President Tinubu wished him divine wisdom, robust health, and continued strength as he serves the nation.

“Under his guidance, the agency has witnessed significant progress through the steady digitalisation and automation of its operations, a renewed commitment to professionalism, and an uplift in officers’ morale, enhancing high performance.

“His leadership has enabled the NCS to surpass revenue targets substantially and bolstered trade facilitation, yielding widespread positive effects on the national economy.

“President Tinubu applauds the innovative anti-smuggling strategies initiated by the Customs Chief.

“These strategies encompass equipping the youth with new skills for alternative livelihood opportunities, fostering engagements with traditional institutions, and nurturing a culture of effective communication and mutual respect.

“The President recognises the Comptroller-General’s other notable achievements, including the remarkable seizures of arms and ammunition and the revitalisation of the Comptroller-General’s Annual Conference, which aims to assess and enhance the agency’s operations.

“President Tinubu affirms that Adeniyi’s extensive experience of over 30 years in service and adaptability to change has greatly enriched the Customs Service.

“The President offers prayers for divine wisdom, robust health, and continued strength for Comptroller-General Adeniyi as he serves the nation.

Headlines

EFCC discovers Yahoo training school in Benin city

-arrests 25 students undergoing training in cybercrimes

Funso OLOJO

The operatives of the Benin Zonal Directorate of the Economic and Financial Crimes Commission, (EFCC) has on Thursday January 16th, 2025, uncovered a Yahoo academy in Benin city, Edo State, where young Nigerians are undergoing training in the act of internet fraud.

During the raid, the anti- graft agency arrested 25 suspected internet fraudsters in the cybercrimes training centre

The suspects’ arrest at their hideout was triggered by credible intelligence that indicated the apartment being used as a yahoo academy or training school for internet-related fraud and other fraudulent activities.

Items recovered from the suspects include six exotic cars, laptops and phones.

The suspects will be charged to court as soon as investigations are concluded.

Customs

Onyeka, Tin Can CAC, set to pursue revenue generation aggressively

— vows to surpass 1 trillion naira revenue record

Funso OLOJO

The Area Controller of the Tin Can island command of the Nigeria customs service, Comptroller Frank Onyeka, has set an ambitious goal of meeting and surpassing the one trillion naira revenue mark achieved last year by his predecessor, ACG Dera Nnadi.

It would be recalled that the command was given a revenue target of N1.4 trillion in 2024 while it realized a little about N1.226 trillion ,an unprecedented record that was never achieved in the history of the command.

Meanwhile, Comptroller Onyeka, has vowed to sustain the revenue momentum as he would aggressively pursue revenue collection.

Speaking while playing host to the Executive council of the Maritime Reporters Association of Nigeria(MARAN) which paid him a courtesy visit in his office on Friday, January 17th, 2025, the Customs chief disclosed his strategy to carry out his assignment.

According to him, he would facilitate legitimate trade, ensure 100 percent examination of all imports while he would energise his men and officers to key into his vision.

“I’ll facilitate trade, but it has to be legitimate trade. That’s what I feel I should do in the strict sense.

“You know, I’m coming from the aspect of revenue. So, it is my prayer and my hope to meet my target and surpass it.

“But principally, what I am going to fight is the ability to do this job without examination.

“I have appealed to my officers, whatever it is they have to do, let them see the containers, once we’ve examined them, everything should be on cruise control because if you examine, you’ll now know if it’s supposed to go out or not.

“I’ve involved Customs Intelligence Unit, CIU, I’ve involved Valuation Unit, I’ve spoken to all relevant Units and it’s my prayer, by the grace of God, that all of us will be on the same page to make sure that the renewed hope agenda of President Bola Ahmed Tinubu is brought to fruition” he noted.

He was full of gratitude to the Comptroller General of Customs, Bashir Adewale Adeniyi , for the confidence reposed in him and vowed never to disappoint him.

“I also appreciate the fact that our indefatigable Comptroller General Of Customs, CGC Bashir Adewale Adeniyi to whom I’m very grateful.

“He needs to be made to know that he didn’t make any mistake for him to have brought me here.

“I am very grateful to him and his management team, and I need to make him proud” he enthused.

Comptroller Onyeka also vowed to build on the foundation that has been laid by his predecessor, Assistant Comptroller General Dera Nnadi.

“In anti-smuggling, he did well. In revenue generation, he did superbly well, same goes for infrastructure development.

“His Public Relations was top-notch, which I’m going to leverage.

“He was fortunate to have what I consider a very fantastic rapport with the media because that’s his background. I intend to leverage that. I intend to do better in that aspect” he added.

Earlier, in his address, the President of MARAN, Mr Godfrey Bivbere expressed the willingness of the association to partner with the CAC and the Command to achieve the target ahead of the command.

He reiterated the firm resolution of the association to accord Comptroller Onyeka the same support accorded to his predecessor.