Headlines

Onitsha port will generate over N23 billion in 30 years- Saraki

Onitsha river port

—-as Universal Elysium Consortium emerges preferred bidder

The Minister of State for Transportation, Sen. Gbemisola Saraki, has disclosed that the Onitsha river port is positioned to generate over 23 billion to the Federal Government in 30 years.

Saraki, during the signing of the concession of the port on Thursday in Abuja, said the port had lots of economic benefits to the country.

According to her, the port will among other things, ensure the 60 percent of cargoes that hitherto go through Onne port to Onitsha are transported directly.

”So there is a lot of economic growth, there is going to be a creation of wealth, creation of jobs, security and greater development.

”We hope it is a catalyst for other river ports so that it will decongest other ports and bring about growth.

”You know the traffic on our road, the state of our roads as well as the tankers, and freight being moved on our roads have now reduced.

”And so it is a very good thing and we are exceptionally proud that at long last, we have actually achieved this.

”It’s being signed and we look forward to the growth there to materialize,” Saraki said.

According to the minister, the Baro, Lokoja and Oguta ports, which are at different stages of completion, will be considered after the Onitsha port.

”The most important thing is that we already have interest from potential investors who want to actually take over this.”

The Managing Director, of the National Inland Waterways Authority, (NIWA) Dr. George Moghalu, said the Onitsha port would reduce the volume of cargoes transported via roads to the South East.

Moghalu said:” Our roads are not designed to carry the kind of weight they are carrying.

”Over 60 percent of the containers that arrive Nigeria through Onne, Tin Can or Apapa port ends up in Onitsha and what it translates is that these containers are moved by trailers.

”Onitsha port is very well positioned to play a key role in addressing this if opportunities are provided.”

He commended the concessionaires for the efforts they were already making in bringing investors into the country.

Moghalu also expressed hope that the concession would open up opportunities for other ports in the country to be given due consideration.

Meanwhile, the Acting Director-General, Infrastructure Concession Regulatory Commission,(ICRC) Mr. Michael Ohiani, reiterated that the 30 years concession would generate over N23 billion for the government.

He said:” After rigorous procurement process, Universal Elysium Consortium emerged as the preferred concessionaire for the concession of Onitsha River Port.

”Over the 30-year concession period, the concessionaire will be responsible for all the activities and maintenance of the port.

”The asset along with the entire infrastructure will be returned to the authorities at the end of the concession period.

”The redevelopment of Onitsha River Port is seen as a boost to commercial activities in the South East.

”Importers and traders from the commercial towns of Onitsha, Nnewi, Aba and Ogbete-Enugu see the relaunch as a welcome development from the Federal Government.

”The port will serve as an alternative mode of transporting goods from Lagos and Port Harcourt by road.

Customs

Group confers “continental” award on Adeniyi over customs’ phenomenal revenue record

Adeniyi, CGC

Funso OLOJO

The Comptroller General of the Nigeria Customs Service, C.G.C Adewale Bashir Adeniyi, has been nominated and approved to be honoured with “The Continent Man of The Year 2024” Award by Board of Editors and Publishers of Continent magazine.

This resolution was announced by the spokesman of the group, Mr David Oladimeji, at the end of group’s meeting held on Friday, September 13th, 2024 in Abuja.

The meeting was organized by” The Continent “Magazine to deliberate on a personality and organisation deserving of the Award.

The Board’s attention was drawn to the statement made recently by former governor of the Central Bank of Nigeria (C.B.N) and sitting Governor of Anambra state, Prof Chukwuma Soludo,who told his constituents in Awka that the Customs and F.I.R.S have sustained the nation’s economy from collapse since February this year, when the NNPCL stopped remittance of statutory revenue to the Federation Account for onward disbursements to the three tiers of governments.

Oladimeji said “the Board noted that this is not an easy task to be achieved under the astute and dedicated leadership of C.G.C Adeniyi, considering the fact that the Customs and it’s officers have been perceived by the public as corrupt and fraudulent”

” In a bid to commend and encourage leaders of the customs and F.I.R.S as well as their lieutenants not to rest on their oars, the Board resolved to honour the C.G.C, his Command Controllers and Revenue Collectors who had made significant sacrifices and excelled in their national anti-smuggling, revenue collection assignments with “The Continent Man of The Year” and “Pillars of Nigerian Economy 2024″ Awards”

As plans are geared towards the celebration of the international and national icons at a date to be announced soon, “The Continent” special edition will publish the profile and achievements of the deserving recipients that earned them recognition and honour.

Headlines

NIMASA secures support of Bank of Industry for enhanced capacity building in maritime industry

Funso OLOJO

The Nigerian Maritime Administration and Safety Agency (NIMASA) has broker a partnership with the Bank of Industry (BOI) to enhance its capacity building effort in the maritime industry.

The Director General of NIMASA, Dr. Dayo Mobereola, represented by the Executive Director of Maritime Labour and Cabotage Services, Mr. Jibril Abba, made this disclosure during a visit by the Management of the Bank of Industry, led by Executive Director of Large Enterprises, Mrs. Ifeoma Uz’Okpala.

He stated, “In addition to safety, security, and maritime labor, the Agency’s mandate encompasses capacity development aimed at growing the sector.”

He also reaffirmed the Agency’s commitment to collaboration as a vital tool for achieving its mandate.

“The aim is to actualize the vision of the Federal Government to reposition the maritime sector, especially with the creation of the Ministry of Marine and Blue Economy”, he said.

On her part, the Executive Director of Large Enterprises at BOI, Mrs. Uz’Okpala, affirmed the Bank’s readiness to support NIMASA.

She also emphasized the importance of collaboration in implementing a robust capacity-building initiative that will contribute to economic growth in Nigeria.

Bank of Industry Limited is Nigeria’s oldest and largest Development Finance Institution (DFI) currently in operation.

It is owned by the Ministry of Finance Incorporated (MOFI) Nigeria (94.80%), the Central Bank of Nigeria (CBN) (5.19%) and private shareholders (0.01%)

Headlines

NIMASA secures support of Bank of Industry for enhanced capacity building in maritime industry

Funso OLOJO

The Nigerian Maritime Administration and Safety Agency (NIMASA) has broker a partnership with the Bank of Industry (BOI) to enhance its capacity building effort in the maritime industry.

He stated, “In addition to safety, security, and maritime labor, the Agency’s mandate encompasses capacity development aimed at growing the sector.”

He also reaffirmed the Agency’s commitment to collaboration as a vital tool for achieving its mandate.

“The aim is to actualize the vision of the Federal Government to reposition the maritime sector, especially with the creation of the Ministry of Marine and Blue Economy”, he said.

On her part, the Executive Director of Large Enterprises at BOI, Mrs. Uz’Okpala, affirmed the Bank’s readiness to support NIMASA.

She also emphasized the importance of collaboration in implementing a robust capacity-building initiative that will contribute to economic growth in Nigeria.

Bank of Industry Limited is Nigeria’s oldest and largest Development Finance Institution (DFI) currently in operation.

It is owned by the Ministry of Finance Incorporated (MOFI) Nigeria (94.80%), the Central Bank of Nigeria (CBN) (5.19%) and private shareholders (0.01%).