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Terminal Operators in a Fix over FG Insistence on Dollar Payment

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Seaport
  • Terminal Operators in a Fix over FG Insistence on Dollar Payment

Concessionaires in the nation’s seaports are in a fix over the Federal Government insistence that they should pay their outstanding dues and levies in the United States of America (USA) dollars.

The concessionaires took over the day-to-day running of the nation’s seaports following the conclusion of the port reforms during Chief Olusegun Obasanjo’s administration. The exercise which was supervised by the Bureau for Public Enterprises (BPE) divested the management of Nigerian Ports Authority (NPA) from cargo handling.

Impeccable sources close to Dicharima House, the corporate headquarters of the Federal Ministry of Transportation, Abuja said that when the government wanted the payment in USA dollar not a few of the terminal operators expected a change of heart going by the intensive lobby within and outside the corridors of power to make the top echelon of the Buhari administration to see reason with the terminal operators.

The insistence of the NPA Managing Director, Ms. Hadiza Bala Usman that the terminal operators must pay in USA dollar in her recent maiden visit to Eastern ports official has dashed the hope of the concessionaires.

Besides the insistence on USA dollar payment, the Federal Government policies since the emergence of the President Mohammadu Buhari’s administration nearly two years ago have further put the concessionaires under pressure.

The unfavourable policies of the Federal Government which have increased the woes of the concessionaires include the auto policy, rice policy, fish quota system and the forex policy of the Central Bank of Nigeria (CBN) which place import restrictions on less than 41 items.

It is on record that more than half of these items are high on the number commodities most importers prefer to import into the country in order to make brisk business especially in the Yuletide.

Described as anti-maritime industry, the policies which have impacted negatively on the shipping sector of the economy long before the recession set into the Nigerian economy have helped in no small measures to worsen the woes of the concessionaires.

As if these are not bad enough, the terminal operators are also grappling with other challenges plaguing the efficient operations of the ports. These include the poor port access roads, significant reduction in cargo and vessel traffic into Nigerian ports and inconsistencies in policies formulation and implementation.

The umbrella body of concessionaires in the country said this much when the Chairman of the Sea Terminal Operators of Nigeria (STOAN), Princess Victoria Haastrup spoke recently in Lagos.

Haastrup who is also the Executive Vice Chairman of ENL Consortium Limited, operator of Terminal C in the Lagos Port Complex (LPC), Apapa stated that is a very challenging period for the maritime industry.

Her words: “As you know, the volume of activities in the ports has reduced and it has been a very drastic reduction. For example in my company we have a cargo downturn of a least 57 per cent as at two weeks ago. When you compare today with this period two years ago we have a reduction in cargo output of a minimum of 57 per cent which means we are operating 43 per cent capacity. This month is even worse. Now we do only six or seven ships from for example 30. That is a huge challenge. The problem has also affected the container operators in the ports. Theirs may not be as bad as ours but they are also experiencing a downturn in their operational activities particularly as it relates to cargo troop out. Why is it like that? It is because of the inconsistencies in government policies. What we need now is a consistent policy regime to help the economy to grow.

“This will create confidence in the mind of business owners and importers of cargo. But a situation where you are not sure whether the policy may change or not you cannot do anything reasonable. Policies keep changing; government must look into that area. For example, the policies on the ban of import 42 items. They should also look at the foreign exchange policy. The present floating system is not helping matters and it is not good for the economy. Why? Because it is floating so high that it is becoming unaffordable to the ordinary Nigerian. It is a good thing to allow the naira to find its true value but the way it is been done now is making the dollar to skyrocket. Government need to look at these policies in the way that it should not go above certain level”.

Is the Buhari administration listening? A stitch in time, they say, saves nine.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Iran Mourns: Helicopter Crash Claims Lives of President Raisi and Foreign Minister Amirabdollahian

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Ebrahim Raisi

A tragic helicopter crash has claimed the lives of President Ebrahim Raisi and Foreign Minister Hossein Amirabdollahian, sending shockwaves across the nation and plunging the country into mourning.

The fatal incident occurred in Iran’s East Azerbaijan province, where the helicopter carrying the two senior officials and several other passengers crashed, resulting in the loss of all on board.

The crash site, now a scene of charred wreckage, stands as a somber reminder of the untimely demise of these key figures in Iranian politics.

President Raisi, who assumed office in August 2021, was widely regarded for his commitment to serving the Iranian people and advancing the nation’s interests on the global stage.

His tenure as president was marked by efforts to strengthen Iran’s position in regional affairs and enhance diplomatic relations with neighboring countries.

Foreign Minister Amirabdollahian played a pivotal role in shaping Iran’s foreign policy, particularly in fostering closer ties with neighboring nations in the Middle East, including Arab countries across the Gulf.

His diplomatic acumen and dedication to advancing Iran’s interests earned him respect both domestically and internationally.

The news of their tragic deaths has elicited an outpouring of grief and condolences from leaders and citizens alike, both within Iran and abroad.

Malaysian Prime Minister Anwar Ibrahim expressed his deep sadness over the loss, highlighting President Raisi’s commitment to justice, peace, and the upliftment of the Muslim world.

Similarly, the European Union extended its sincere condolences to the families of President Raisi and Foreign Minister Amirabdollahian, acknowledging the profound impact of their untimely passing on the Iranian nation.

The helicopter crash not only robbed Iran of two of its most prominent leaders but also left a void in the country’s political landscape.

As the nation grapples with this immense loss, tributes pour in from all corners, commemorating the contributions of President Raisi and Foreign Minister Amirabdollahian to the advancement of Iran’s interests and the well-being of its people.

The legacy of these esteemed leaders will endure in the hearts and minds of Iranians, serving as a guiding light for future generations as they navigate the complexities of governance and diplomacy in an ever-changing world.

Iran mourns the loss of two of its finest sons, whose dedication and service will be remembered for years to come.

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DR Congo Thwarts Coup Attempt: Leader Killed, Several Arrested

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Vital Kamerhe

The Democratic Republic of Congo (DRC) found itself on the brink of chaos as an attempted coup unfolded in its capital, Kinshasa.

The government swiftly acted to quell the insurgency, resulting in the death of the coup leader and the arrest of several others involved.

The assault, which occurred on Sunday morning, sent shockwaves through the mineral-rich central African nation, already grappling with political instability and external pressures.

The target of the attack was the residence of Vital Kamerhe, a prominent political figure in Congo’s landscape and a candidate for the head of the National Assembly.

Led by Christian Malanga, the self-exiled leader of the New Zaire movement, the attackers descended upon Kinshasa in two groups, initiating their assault on Kamerhe’s residence.

Despite the initial skirmish that claimed the lives of two police officers, the attempted coup lacked the military support necessary to pose a significant threat to the government’s stability.

After the failed attempt to seize power, Malanga and his cohorts proceeded to the office of President Tshisekedi, where they brazenly defaced Congolese flags and hoisted the banner of the former Zaire.

However, their actions were swiftly met with resistance from the Republican Guard, resulting in a fatal confrontation that claimed the lives of multiple attackers, including Malanga himself.

The involvement of three American citizens among the assailants adds a layer of complexity to the unfolding situation.

While details surrounding their participation remain murky, the revelation has drawn the attention of both Congolese authorities and the U.S. government, signaling potential diplomatic ramifications.

Vital Kamerhe, the intended target of the coup, emerged unscathed from the ambush on his residence. However, his absence from public discourse following the incident leaves many questions unanswered regarding his stance and potential involvement in the foiled insurgency.

The failed coup underscores the fragile political landscape of the DRC, where power struggles and external interests converge amid the backdrop of immense mineral wealth.

As the nation navigates the aftermath of this brazen attempt to destabilize its government, concerns over internal cohesion and foreign intervention loom large on the horizon.

In the wake of the thwarted coup, Congolese authorities are expected to intensify efforts to maintain stability and root out any remnants of dissent.

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Netanyahu Stands Firm as US Halts Bomb Shipment Over Rafah Invasion Warning

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Netanyahu

Amidst escalating tensions between Israel and the United States, Israeli Prime Minister Benjamin Netanyahu has adopted a defiant stance following the US decision to halt a shipment of bombs and warned against Israel’s potential invasion of the southern Gaza city of Rafah.

In a bold statement, Netanyahu declared, “If we have to stand alone, we will stand alone,” emphasizing Israel’s resolve to pursue its objectives despite opposition.

The Prime Minister’s comments, delivered via social media and a subsequent interview with American talk show host Dr. Phil, underscore Israel’s determination to address security threats posed by the Gaza Strip, particularly by Hamas militants operating in Rafah.

Netanyahu reiterated the necessity of military action in Rafah to eliminate the remaining Hamas battalions, condemned Hamas’s history of violence and reiterated Israel’s commitment to achieving victory and ensuring the safety of its citizens.

The US administration, led by President Joe Biden, expressed concerns over the potential humanitarian impact of an Israeli invasion of Rafah, prompting the decision to withhold additional offensive weapons shipments to Israel.

Biden’s statement echoed broader international apprehensions about the escalation of violence and civilian casualties in the conflict-stricken region.

However, Netanyahu remained resolute in Israel’s approach, asserting the country’s right to defend itself against security threats. He emphasized Israel’s efforts to minimize civilian casualties and facilitate the evacuation of civilians from Rafah before any military action.

Despite the US’s decision to pause the bomb shipment, Netanyahu affirmed Israel’s commitment to its longstanding alliance with the US. He acknowledged past disagreements between the two nations but expressed optimism about resolving current tensions through dialogue and cooperation.

In response, White House officials reiterated the US’s support for Israel’s security while urging restraint and emphasizing the need to avoid actions that could exacerbate the humanitarian crisis in Gaza.

The administration clarified that the decision to halt the bomb shipment was aimed at preventing potential civilian casualties in Rafah.

The confrontation between Israel and the US underscores the complexity of navigating regional conflicts and balancing strategic interests. As tensions persist, both nations face the challenge of reconciling their respective security imperatives with broader humanitarian concerns, seeking to avert further escalation while addressing the root causes of the conflict in the Middle East.

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