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NPA Set to Inaugurate Lillypond, Tin Can Truck Parks

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Nigerian ports authority
  • NPA Set to Inaugurate Lillypond, Tin Can Truck Parks

The Nigerian Ports Authority has embarked upon a sensitisation programme to educate the public about the benefits of transit trailer parks.

The agency indicated in a statement signed by the General Manager, Corporate and Strategic Communications, Jatto Adams, that the move was part of efforts and commitment to end the gridlock along the port access roads.

It quoted the Managing Director, NPA, Hadiza Bala-Usman, as saying that two transit truck parks at Lillypond and Tin Can Island Second Gate were set for inauguration.

Usman, who was represented by the Executive Director, Marine and Operations, Dr Sokonte Davies, expressed the belief that the truck parks would enhance effective port operations and improved service delivery across the board.

She also assured stakeholders in the maritime sector that priority would be given to truckers with empties and to exporters.

Bala-Usman reiterated that the NPA as a landlord would not fold its arms and allow total breakdown of the system.

She said some of the plans put in place included mandating the incoming task force to ensure that all trucks were not allowed to park on the bridges.

Shipping lines and terminal operators must synergise their operations to ensure the success of the call up system.

Security agencies were to remove all categories of trucks milling round the port environment and traffic and law enforcement agents were to ensure that the Tin Can Island – Mile 2 corridor was open for optimal traffic and port management.

In addition, the various sectional heads from the NPA involved in the exercise resolved that enforcement would be total.

The NPA stressed that while the trailer parks were transit points, it would ensure that broken down trucks were towed away on a penalty. It urged all concerned that a platform would be made available for complaints to be lodged by stakeholders.

The Director-General Nigerian Maritime Administration and Safety Agency, Dr Dakuku Peterside, who was represented by Assistant Director, Shipping Development, Mrs Anna James Akpan, eulogised the initiative of the NPA. He said, ‘’The ease of access into the port and the provision and maintenance of the facilities to create a free flow of activities cannot be overemphasised as it will enhance the flow and increase of revenue to both the NPA and the government.”

At the end of the discussions, participants urged the NPA management to ensure that their members were made relevant in committees just as they further pledged their loyalty to the NPA in ensuring that the call up system was effectively implemented for the growth and development of the maritime sector and most especially the Gross Domestic Product of Nigeria.

Present at the event were representatives drawn from the terminal operators, shipping lines, Road Transport Employers Association of Nigeria, Nigerian Association of Road Transport Owners and other critical stakeholders.

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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Lafarge Africa Board Proposes N30.60bn Dividend, Lower Than Previous Year

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Lafarge Africa - Investors King

Lafarge Africa’s Board of Directors has recommended a dividend payout of N30.60 billion for the year ended December 2023, a reduction from the previous year’s dividend.

The proposed dividend translates to N1.90 per unit of shares and awaits approval from shareholders at the upcoming Annual General Meeting (AGM) of the company.

In a corporate announcement filed with the Nigerian Exchange Limited, Lafarge Africa disclosed that the proposed dividend is payable from the Pioneer Reserve to shareholders registered as of March 28, 2024.

Despite the lower dividend proposal, Lafarge Africa recorded an increase in revenue to N405 billion, marking an 8.6% rise from the previous year’s N373 billion.

However, the company’s post-tax profit experienced a 4.7% decline, amounting to N51.14 billion, attributed mainly to the devaluation of the naira.

Lolu Alade-Akinyemi, the Chief Executive Officer of Lafarge Africa, expressed confidence in the company’s performance despite economic challenges.

He highlighted the growth in revenue and an improved operating margin, despite pressures from inflation and currency devaluation.

Looking forward, Lafarge Africa remains optimistic about the construction sector’s growth in Nigeria, despite prevailing economic challenges.

The company aims to leverage its market opportunities while maintaining a focus on sustainability and stakeholder value.

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Business

South African Billionaire Christo Wiese Predicts Return of Major Players to Nigeria Despite Recent Exodus

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Christo Wiese

South African billionaire Christo Wiese remains optimistic about Nigeria’s economic prospects, predicting the eventual return of major players despite a recent exodus from the West African nation.

In an interview with Bloomberg TV, Wiese explained that it is impossible to ignore Nigeria’s large and growing population, “how do you ignore an economy like this?”

Wiese, the former chairman of Shoprite Holdings Ltd., acknowledges the challenges faced by businesses in Nigeria, where recent currency woes and policy missteps have contributed to an exodus of international companies.

Procter & Gamble Co. and Shoprite are among the global conglomerates that have announced their departure from Africa’s most populous nation.

However, Wiese sees the recent exits as temporary setbacks rather than a long-term trend. He believes that the allure of Nigeria’s vast consumer market and its economic potential will eventually draw major players back.

Despite the current uncertainty, Wiese remains confident in Nigeria’s future, emphasizing the need for governments to adopt correct policies and for investors to exercise patience.

While acknowledging Nigeria’s single-commodity economy vulnerabilities, Wiese highlights the resilience of the nation’s economy and its potential for growth and development.

He suggests that foreign investors, including South African ones, are adopting a wait-and-see approach, anticipating a time when the economy stabilizes and favorable policies are in place.

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Appointments

Seplat Energy Names Udoma Udo Udoma as Independent Non-Executive Chairman, Bello Rabiu as Senior Independent Non-Executive Director

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Seplat Energy Plc - Investors King

Seplat Energy, a prominent Nigerian energy company listed on the Nigerian Exchange Limited and the London Stock Exchange, has made significant changes to its board leadership.

In a recent announcement, the company revealed that Udoma Udo Udoma has been appointed as the new Independent Non-Executive Chairman, succeeding Basil Omiyi, who is set to retire on March 31, 2024.

Udoma Udo Udoma, a distinguished lawyer and seasoned board administrator, brings a wealth of experience to Seplat Energy.

He holds degrees from St. Catherine’s College, Oxford, and has had a remarkable career spanning various sectors, including petroleum, energy, and natural resources.

Udoma has served on numerous large-sized company boards, including UAC Nigeria Plc and Union Bank Plc, and held key public sector appointments, such as Chairman of the Corporate Affairs Commission and Minister of Budget & National Planning.

In addition to Udoma’s appointment, Seplat Energy announced the selection of Bello Rabiu as the new Senior Independent Non-Executive Director, effective April 1, 2024.

Rabiu, a seasoned professional with extensive experience in the petroleum industry, holds multiple degrees and has served in various capacities at the Nigerian National Petroleum Corporation (NNPC).

The appointments come as part of Seplat Energy’s commitment to upholding strong corporate governance practices and ensuring a smooth transition of leadership.

Both Udoma Udo Udoma and Bello Rabiu are expected to play pivotal roles in guiding Seplat Energy as it continues to expand its operations and consolidate its position as a leading energy company in Nigeria and beyond.

In a statement, Basil Omiyi, the outgoing Chairman of Seplat Energy, expressed confidence in the newly appointed leaders, emphasizing their capabilities to steer the company towards further growth and success.

The appointments underscore Seplat Energy’s dedication to fostering excellence and innovation in the energy sector while meeting the evolving needs of its stakeholders and contributing to Nigeria’s energy transition efforts.

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