Headlines
EU applies fresh sanctions on Russia
In light of Russia’s war against Ukraine, the European Council decided to impose a new package of economic and individual sanctions against Russia.
The agreed package includes a series of strict measures to reinforce pressure on the Russian government and economy, weaken Russia’s military capabilities, and make the Kremlin pay for the recent escalation.
The package agreed introduces into the EU legislation the basis to put in place a price cap related to the maritime transport of Russian oil for third countries and further restrictions on the maritime transport of crude oil and petroleum products to third countries.
More specifically, it will be prohibited to provide maritime transport and to provide technical assistance, brokering services or financing or financial assistance, related to the maritime transport to third countries of crude oil (as of December 2022) or petroleum products (as of February 2023) which originate in or are exported from Russia.
The price cap derogation would allow the provision of the transport and these services if the oil or petroleum products are purchased at or below a pre-established price cap.
The new prohibition for EU vessels to provide maritime transport for such products to third countries will apply as of the date in which the Council will unanimously decide to introduce the price cap.
The price cap will drastically reduce the revenues Russia earns from oil after its illegal war on Ukraine has inflated global energy prices.
As concerns trade, the EU is extending the import ban on steel products that either originate in Russia or are exported from Russia.
Further import restrictions are also imposed on wood pulp and paper, cigarettes, plastics and cosmetics as well as elements used in the jewellery industry such as stones and precious metals, that altogether generate significant revenues for Russia.
The package agreed today also comprises:
The sanctioning of individuals and entities that have played a role in the organisation of illegal “referenda”, representatives of the defence sector, and well-known persons spreading disinformation about the war.
The extension of the list of restricted items which may contribute to Russia’s military and technological enhancement or the development of its defence and security sector.
A full ban of the provision of crypto-asset wallet, account or custody services to Russian persons and residents, regardless of the total value of those crypto-assets;
Headlines
Stakeholders kick against renewal of ETO contract with TTP as NPA reviews agreement
Syndicates and fraudulent truckers have been caught using fake, duplicated, or borrowed license plates to match Eto tickets, a practice that undermined the automated system intended to manage traffic congestion
Truckers often duplicate the plate number of a vehicle with a valid Eto ticket and attached it to an unauthorized truck.
Fraudsters engage in “proxy booking,” where they generated tickets for fake or non-existent trucks and then use those tickets for other vehicles by swapping plate numbers at the gate.
Due to the scarcity of spots,, valid Eto tickets were frequently resold at inflated prices (up to ₦450,000 against a ₦21,000 official rate), with the forged plate numbers used to bypass security checks.
The Nigerian Ports Authority (NPA) intercepted hundreds of fake plate numbers and counterfeit Minimum Safety Standard (MSS) stickers in single raids, particularly around the MPS pre-gate in Apapa.
It was these and other fraudulent acts perpetrated under the management of ETO by the TPP that made stakeholders to advised the NPA not to renew the contract with the company.
“Renewal of the TPP contract will be a monumental error by the NPA because the company used the system to extort and overburdened the truckers.
A more competent company should be engaged to drive the process” one of the truckers union executives told our reporter.
However, the NPA has reaffirmed its dedication to a “congestion-free” port environment and is actively assessing the performance of the Eto system.
The agency emphasized that the electronic call-up is now a cornerstone of their digital agenda, aimed at increasing transparency and minimizing human interaction.
The review process is ongoing, with significant pressure from stakeholders to either continue with the current system (with improvements) or seek a new, more efficient solution to maintain sanity on the Apapa and Tin Can Island port access road
But the Authority has assured port users and industry stakeholders that there will be no disruption to operations as it reviews the expired agreement governing the Electronic Truck Call-Up System (ETO)
The contract between the NPA and Truck Transit Park Ltd (TTP), which manages the ETO platform, reached its term at the end of February and is currently under review.
Nevertheless ,the Authority has moved swiftly to calm concerns, emphasizing that port efficiency and seamless cargo movement remain top priorities.
In a statement, the NPA’s General Manager, Corporate Communications, Ikechukwu Onyemekara, said there are clear provisions within the expired agreement to guarantee operational stability.
“There are options under the expired agreement to be adopted to ensure that necessary arrangements are in place for business continuity by the parties that would ensure that operations are not disrupted in any way,” Onyemekara said.
He described the review as a routine administrative process consistent with global best practices, noting that the Authority is committed to safeguarding the gains recorded since the introduction of the digital call-up system.
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