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Federal Government set to commence disbursement of CVFF 

 

as NIMASA remits N30billion to federation account in Q1, 2022
— intensifies efforts to exit Nigeria from war risk insurance burden.
The Eyewitness reporter
The coast may have cleared for the disbursement of the controversial Cabotage Vessels Financing Funds (CVFF) by the Federal government.
The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr Bashir Jamoh, pointedly to the bewildered ship owners and other maritime stakeholders that the disbursement of the $350m intervention fund, which has been an object of controversy and subjected to serial delays for about 15 years,  may commence by next week.
Speaking at the 53rd sessions of the Presidential Media chat organized by the President Media team, in Abuja Thursday, the NIMASA boss disclosed that 11 Primary Lending Banks(PLBs) have been shortlisted to facilitate the disbursement.
He said the long-anticipated exercise would be kicked off with the inauguration of the special committee by the Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed.
Jamoh bemoaned the absence of indigenous fleets, stating that the disbursement of the funds will not only enhance local shipping business but also assist in creating jobs for the over 2041 Nigerian Seafarers trained by the Agency.

He disclosed that NIMASA has trained about 2041 Seafarers in various institutions overseas, out of which over 800 have gained jobs with shipping companies, globally

“We are unable to retain them here, due to the absence of fleets to provide jobs for them in Nigeria, after their training overseas

“ One vessel can employ up to 40 of them. The shipping business is capital intensive, thus government needs to give helping hands to potential ship owners.

“We need them to feed into our own system if the fleets are available.

The NIMASA DG also disclosed that the agency is working hard to exit Nigeria from the war risk insurance charges imposed by foreign shipping companies.

He said he was confident that this surcharge, which he said was no longer justifiable, would soon be a thing of the past due to the improved safety records at the Gulf of Guinea.
 Jamoh stated that efforts are on to ensure that shipments of goods and services to Nigeria from Europe no longer attract “ War risks insurance”
He disclosed that payment of war risks insurance has been going on for 25 years following insecurity in the Gulf of Guinea, but noted that with the recent safety records in the region, ships coming into Nigeria waters don’t need to pay such risks

“ There are three basic insurance charges which include “ War risk insurance, insurance on the valuables in the ship and personnel insurance for workers in the ship”

“These are the three key elements which we ought not to be paying, as they are responsible for a 90% increase in the prices of goods and services imported into Nigeria.

“ They have commended NIMASA for the security recorded in the Gulf of Guinea and we are waiting for the report from the Lloyds of London very soon, we hope to exit this insurance

He further disclosed that security in the Gulf of Guinea had been primarily aided by the deep blue project, adding that “the Gulf of Guinea has recorded zero attacks since the last quarter of 2021 to date

“ We have not experienced any attacks in Nigeria since the last quarter of 2021 to date which was why they have removed us from the piracy list.

Jamoh also disclosed that the agency remitted N30b into the federation account in the first half of 2022,
He stated further that the agency has five vessels and ordered seven new ones.
“Under the deep blue project, the agency acquired 2 specials mission vessels, 3 specials mission helicopters, 16 armoured vehicles that can enter the creeks, 2 special mission aircraft, 17 special interceptors, and four unmanned air surveillance, for data transmission for possible intervention, 600 specially trained forces to respond to threats on the high sea”
Stakeholders, who spoke with our reporter, over the latest promise of disbursement of CVFF, were largely skeptical and said they were not elated by this new promise.
“We have been treated to this type of promise for about 15 years now, so nothing is exciting about it.
”We shall maintain a studied silence and restrained enthusiasm until the government works its talk” one of the disillusioned indigenous ship owners declared.
It could be recalled that the Minister of Transportation, Engr Muazu Sambo, has also promised that the controversial Cabotage funds will be disbursed before his short tenure ends.
 He had vowed to break the jinx on the disbursement of the cabotage funds.
”If there is a jinx about the CVFF, I am going to break it by getting it disbursed to deserving Nigerians.
”If these funds are disbursed, the President Muhammadu Buhari administration and the Federal Ministry of Transportation will take credit, while it remains a legacy in your(NIMASA) administration,” the minister had said.
The Cabotage Vessel Financing Fund (CVFF), is an intervention fund created to help the development of indigenous shipping capacity in Nigeria.
It is the two percent deductions from the Cabotage contracts executed by indigenous ship owners.

The disbursement of the CVFF is backed by the provisions of Section 42(1)-(2) of the Cabotage Act 2003, enacted to promote the development of indigenous ship acquisition capacity by providing financial assistance to Nigerian operators in domestic coastal shipping.

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Headlines

CIoTA seeks collaboration with NIMASA, pays homage to Mobereola.

Dayo Mobereola, NIMASA DG

Funso Olojo 

The Executives of the Chartered Institute of Transportation Administration of Nigeria (CIoTA) paid a visit to the Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dayo Mobereola, at the NIMASA Towers in Lagos.

The executives, led by the President, Mr. Segun Obayendo, congratulated the DG on his appointment and pledged to collaborate with the agency in ensuring the transportation sector is professionally driven.

On his part, the DG welcomed the association and expressed the Agency’s readiness to partner with CIoTA towards achieving a robust transport sector.

Dr. Dayo Mobereola, the NIMASA DG, was conferred with a fellowship of the institute.

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Customs

Tin Can Customs generates N575.5bn in six month

Funso Olojo 
The Nigeria Customs Service (NCS), Tincan Island Port Command (TIPC) has generated N575.5 billion in revenue in the first half of the year 2024.
The Customs Area Controller, TIPC, Comptroller Dera Nnadi said this at a media conference held at the Maritime Reporter Association of Nigeria (MARAN) secretariat in Apapa, Lagos.
According to Nnadi, this is an improvement by N315.24 billion and represents a 221.13 per cent increase from the half year report in 2023 which had N260.26 billion.
“As at today, July 12, the command has generated N627 billion and we have been given a target of N1.403 trillion. This shows that significant efforts have been made in the command in meeting the target.
“TCIP operations in the last six months significantly aligned with the statutory functions of the Service in the areas of revenue generation, trade facilitation and enforcement/anti-smuggling activities.
“The command’s operations were performed in consciousness of the theme of the 2024 International Customs Day, ‘‘Customs Engaging Traditional and New Partners with Purpose’.
“The command further enhanced the existing operational process to conform to the malady of the floating exchange rate regime with the use of technology made available by the NICIS II Software,” he said.
On enforcement, Nnadi noted that the command coordinated several 100 per cent physical examination under his supervision in collaboration with critical stakeholders to ensure that the command was freed of any form of non-compliance to the international trade cycle.
“Items discovered as concealments and seized during the period under review are one RZ17HD – 20P9964 – rifle, one RZ17HD – 20P9962 – rifle, one GAMO – T660739 – rifle, one pump action – MV0830249 – rifle, one RZ17TACTICAL – 30H21PT011992 – rifle, one RZ17HD – 20P9929 – rifle, one pump action – MV0830253 – rifle.
“Others  are one pump action – MV0830839 – rifle, one RZ17HD – 20P10115 – rifle, one pump action – V1690019 – rifle, one pump action – 52-H21PT – 3803 – rifle, one  RZ17HD – 20P9951 – rifle, one SAR9 SARSILMARZ T1102-21BV63826 – pistol, one RUGER AMERICAN PISTOL 9MM.
“Others listed: one SAR9 SARSILMARZ T1102-21BU51078 – pistol, one TAURUS G3C – BAIN BRIDGE, GA ADA 799424 – pistol, one TAURUS G3C – BAIN BRIDGE, GA ADC 122309 – pistol, one TAURUS G3C – BAIN BRIDGE, GA ADB 941276 – pistol.
“Also intercepted are one used Toyota Corolla Chassis Number: 5YFBURH1EP09601: 2014 model, Sterling High Quality shot gun cartridges green (12 cal 32 grams – 10packs of 25 pieces each), Sterling High Quality shot gun cartridges green (12 cal 30 grams – 20packs of 25 pieces each and 23 extra pieces).
“Included in the list are Seller & Bellot  Buck Shot – 55 pieces, Crossman Co2 12 gram cartridges – 123 pieces, 1USP CO2 Air Gun Pistol with Accessories Cal. 117 (4.5mm) BB, units of Mace Pepper Gun, to Department of State Services (DSS) for further agency function,” he said.
He said that during the period under review three plastic drums were intercepted concealed with several packets of Cannabis Indica, 46 bags containing 2,144 packets of cannabis indica all weighing 1,072kg seized from 1x40ft Container No. GAOU 669921/5 imported from Canada.
“The approximate street value of   the illicit substances is N3.216 billion.
“Also, 877 cartons of Barcadin cough syrup with codeine – 200 bottles of 100ml per carton and 82 cartons of Really Extra Diclofenac Sodium 50mg tablets – 600 packs per carton imported from India was seized.
“The approximate street value of the cough syrup is N964.33 million,” he said.
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Headlines

News Alert! President Tinubu removes Bello-Koko as NPA MD, appoints Abubakar Dantsoho as new MD 

Funso Olojo 
Barely three years into his tenure as the Managing Director of the Nigerian Ports Authority(NPA), President Bola Ahmed Tinubu has relieved Mohamed Bello Koko of his appointment.
He has approved the appointment of Dr. Abubakar Dantsoho as the new  Managing Director of NPA.
Dr. Dantsoho holds a Doctorate degree in Maritime Technology from Liverpool John Moores University, United Kingdom, and a Master’s degree in International Transport from Cardiff University of Wales, United Kingdom.
Before his appointment, he had served in various roles in the Nigerian Ports Authority as Assistant General Manager; Technical Assistant to the Managing Director; Port Manager, Onne Port; and Principal Manager, Tariff & Billing.
In the same breath, Tinubu has also approved the appointment of Senator Adedayo Adeyeye as Chairman of the Board of the Nigerian Ports Authority (NPA).
Senator Adeyeye, the Board Chairman, is a seasoned lawyer, journalist, and politician.
He is a former Minister of State for Works and former Senator representing Ekiti South Senatorial District.
According to a state house press release signed by Chief Ajuri Ngelale, Special Adviser to the President on Media & Publicity, President Tinubu expects the new leadership of this pivotal agency to deploy excellence in the discharge of their duties to enable efficient port services and improved industry outcomes.
Mohammed Bello-Koko was appointed by former President Mohammadu Buhari in 2016 as the Executive Director, Finance and Administration of the agency, the position he held till May 2021 when he was appointed as the Acting MD when the erstwhile MD, Hadiza Bala Usman was suspended.
In February 2022, Bello- Koko became a substantive NPA MD until July 12th, 2024 when he was removed.
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