WAF Shipping Focus: Week 31
- Agwe Logistics Solutions
- Aug 2, 2024
- 3 min read
In a groundbreaking achievement, COSCO Shipping, one of the world’s largest shipping companies, has successfully exported Nigeria’s agricultural produce which arrived at the Lagos Port Complex Apapa by rail. The first batch of 18 locomotive-driven containers departed Dala Inland Dry Port in Kano on July 7, 2024, and arrived Apapa on July 17 after 10 days of daylight travel. The cargo train was received in Lagos by officials from COSCO Shipping, Nigeria Railway Corporation (NRC), and Temerity International Experts, who facilitated the arrangement.
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The rehabilitation of Apapa and Tin Can ports, along with the upgrading of the eastern ports including Calabar, Warri, Onne, and Rivers Ports, as well as the reconstruction of the Escravos Breakwater, will take approximately three and half years to accomplish. This is even as our correspondent gathered that presentations regarding the loan for the funding of the projects have been made to the Ministry of Marine and Blue Economy, which has also forwarded them to the Ministry of Finance and the Debt Management Office (DMO) for regulatory approval.
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The Nigeria Customs Service, NCS, has announced the collection N2.74 trillion between January and February 2024 against its targeted revenue of N2.54rillion indicating an increase of 8 percent. In a mid-year report released by the agency, the collection for H1 of 2024 surpassed that of H1 20244by 127 percent as a total of N1.395trillion was collected between January and February of last year. According to the report, the electronic auction platform introduced by the. Service generated about N1.34 billionand the 90-day duty payment window for uncustomed vehicles, adding N4.37 billion to the revenue.
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The Ports Authority Police, Western Command, has vowed to protect port facilities and ensure uninterrupted economic activities during the proposed nationwide #ENDHUNGER protest starting 1st August 2024. Commissioner of Police Olanrewaju Ishola warned that any attempt to disrupt port operations or incite violence will be met with fierce resistance. In a statement, ASP Isaac Hundeyin, Police Public Relations Officer, said the Command has deployed strategic assets to secure Apapa Port, Tincan Island Port, Lekki Deep-Sea Port, and other facilities within its jurisdiction.
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In a bid to address widespread economic challenges and hunger in Nigeria, the Comptroller-General of the Nigeria Customs Service (NCS), Bashir Adeniyi, has announced the Federal Government’s suspension of import duties and taxes on essential food items. This measure aims to make basic necessities more affordable for Nigerians. Adeniyi acknowledged the global inflationary trend and its impact on Nigeria, emphasising the government’s commitment to easing the financial burden on citizens. He outlined the NCS’s efforts to streamline export processes, introducing advanced ruling systems, authorised economic operators, and a time-release study to enhance trade and stimulate the economy.
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President of the Nigerian Chamber of Shipping; Aminu Umar, has been appointed as the first African Director on the Board of the International Chamber of Shipping (ICS). The Nigerian Chamber of Shipping announced the appointment via a statement in which it said the development was a significant milestone for both Mr. Umar and Nigeria’s maritime sector on the global stage. According to the statement, the Nigerian Chamber of Shipping plays a pivotal role in advocating for the interests of Nigeria’s maritime sector. Its presence on the International Chamber of Shipping Board is expected to strengthen Nigeria’s position in international maritime policy discussions and decisions.
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