Headlines

Nigeria seeks to expand its revenue base through exploitation of Deep Seabed resources

Funso OLOJO

Worried by the crippling economic crunch due to the restricted income base, the Federal government has given ministry Of Marine and Blue Economy a matching order to activate the mechanism that will enable the country to tap into its vast deep Seabed resources for enhanced economic activities.

As a result, the ministry, in collaboration with the Nigeria Maritime Administration and Safety Agency (NIMASA) has convened a two- day workshop to sensitise relevant stakeholders on the need to explore and exploit resources in Deep Seabed.

The stakeholders’ sensitization workshop, held in Abuja between September 18th- 19th, 2024, was part of government efforts to diversify the economy.

Speaking at the workshop,the Minister of Marine and Blue Economy, Adegboyega Oyetola emphasized that Nigeria’s extensive coastline and inland waterways make it an ideal player in the emerging deep-sea exploration sector.

Represented by the Permanent Secretary of the ministry, Oloruntola Olufemi, Oyetola added that the transition from a fossil fuel-based to a mineral-based economy also presents opportunities for Nigeria to leverage its marine resources, particularly wave and tide energy, to generate clean energy.

He noted that effective utilization of these resources will substantially contribute to Nigeria’s energy needs.

He said, “Nigeria’s establishment of a full-fledged Ministry of Marine and Blue Economy in 2023 demonstrates our commitment to diversifying our economy and capitalizing on the global surge in deep-sea exploration. As a major oil-producing country with an extensive coastline and inland waterways, we cannot afford to lag in this new frontier.

“This workshop aims to raise awareness among critical stakeholders about the importance of Deep Seabed exploration and exploitation, addressing environmental and social implications and ensuring effective protection of the marine environment from harmful effects that may arise from deep seabed activities.”

Also speaking, Director, Maritime Safety and Security Bombata Babatunde, said the Ministry and NIMASA remains committed to promoting collaborative efforts with key industry players, driving innovation, and championing sustainability.

“As we convene here today, we acknowledge the relatively uncharted terrain of deep seabed activities. The workshop aims to illuminate the opportunities and importance of exploring Africa’s continental shelf while ensuring responsible environmental management and adherence to regulatory frameworks, “he said.

In his presentation, the Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dayo Mobereola stated that

Deep seabed exploration and mining offer a unique opportunity for Nigeria to expand its maritime resources, align with the global shift towards sustainable development, and promote economic growth.

According to him, deep sebed mining would unlock new revenue streams, thereby contributing significantly to Nigeria’s GDP, and creating thousands of jobs.

He said, “Exploring Deep Seabed Mining holds the key to new revenue streams/economic benefits as you gain access to unexploited mineral resources. It is estimated that global demands for some of such minerals will rise as much as 400-600% in the coming decades as the world increases its reliance on wind and solar power, electric vehicle batteries and other zero-carbon technologies.

“Reduced Carbon Print – Decarbonization

Technological innovation arising from the development of specialized equipment and techniques.

“Job creation: Employment opportunities in exploration, extraction and processing.

Economic diversification.

Sustainable resource management.

Ocean based renewable energy integration.

Research and Development.

Eco – tourism and conservation.

Reduced reliance on land based mining which will decrease environmental impact on land.

The DG noted that while deep seabed mining offers significant economic opportunities, it is not without challenges especially as its concerns potential environmental impact and inadequate Regulatory framework.

For Nigeria to fully maximize and benefit from it’s deep seabed mining activities, the NIMASA boss advocated for a robust legislation for seabed mining, stakeholders engagement and thorough environment impact assessments to minimize potential damage to ecosystems

“NIMASA will play a critical role by collaborating with relevant MDAs and the International Seabed Authority (ISA) in providing the regulatory framework and establishing environmental protection guidelines for seabed mining.

“The Agency could also help develop training programs to grow local expertise in deep seabed mining technologies and operations. Promote Research and Development in marine science and technology to enhance knowledge of deep-sea ecosystems and resource potential.

“We remain committed to ensuring that relevant legislative frameworks on the sustainable use of the Marine Environment and Safety standards are fully implemented.

“It is also crucial that the Nigerian Minerals and Mining Act 2007 is amended to reflect relevant provisions of ISA’s model of legislation on exploration and exploitation.

“Nigeria has long benefited from its offshore oil and gas resources.

“As we look to the future, deep sea mining presents a unique opportunity for Nigeria to diversify its economy and secure long-term economic growth. It is an integral part of the Blue Economy, promising technological advancement, resource security, and job creation. However, this potential can only be realized if we proactively address the associated environmental, technical, and regulatory challenges, ” he said.

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.