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I’ll Tell Niger to Use Kaduna Port, Not Lagos

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  • I’ll Tell Niger to Use Kaduna Port, Not Lagos – El-Rufai

The Governor of Kaduna State, Nasir El-Rufai, plans to send a delegation to the Republic of Niger to tell it to start receiving goods at the Kaduna Inland Dry Port instead of using the seaports in Lagos State.

El-Rufai disclosed this on Tuesday while speaking on the sidelines of the ceremony for the commencement of cargo delivery by rail to the Kaduna Inland Dry Port.

He said, “We are very grateful today’s event has opened a new vista of commercial opportunities, not only for northern businessmen but even for our neighbouring countries.

“I intend to send a delegation to the Republic of Niger to sensitise the government of that country on the opportunities of receiving their goods in Kaduna instead of Lagos and having to truck them, as well as any of their exports from Kaduna port to any part of the world.”

According to the governor, the transportation of goods from the dry port and containers from the seaport in Lagos to Kaduna by rail has confirmed that the inland dry port is functioning.

El-Rufai said, “You can ship your goods directly from Kaduna to any part of the world and you can also import goods from any part of the world directly to Kaduna without your containers or any of your goods being opened up for inspection in Lagos.”

The Executive Secretary, Nigerian Shippers Council, Hassan Bello, said the commencement of cargo delivery by rail at the port would address the challenges faced by importers and exporters and guarantee the seamless movement of cargoes from the seaports in Lagos to Kaduna Inland Dry Port.

On efforts taken to attract investors to use the facility, Bello said, “We are in preliminary discussion with the Commonwealth Enterprise and Investment Council in London and we want to bring them to Kaduna so that they will know what value they can add to the dry port.

“We are talking with the Nigerian Railway Corporation to create more space for associated industries, for it is an industrial hub where things are also processed. We don’t want to be exporting raw materials without having them processed. So, there is also a need to improve on our packaging.”

Bello also noted that the dry port might become a free trade zone, as the council had been engaging with all relevant authorities to achieve the target.

He said, “About 24,000 direct jobs will be created from this project. If we are able to connect the Niger Republic and Chad to use the port as the destination port for their cargoes, it will have a multiplier effect for Kaduna and its environs.

“We can then be able to decongest the ports in Apapa and Tincan Island and we won’t be having the gridlock we are experiencing now. It will take two days for the train to arrive from Lagos to Kaduna because we are using the old track, but we are improving and the movement must improve.”

According to Bello, the rail cargo delivery service currently has about 24 wagons and will bring in about 24 containers on each trip, and this will cut down cargo delivery cost by about 50 per cent.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

Economy

IMF to Review Nigeria’s Growth Forecast Amid Destruction of Businesses, Properties

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IMF 1

IMF Says it May Review Nigeria’s Growth  Amid Recent Development in the Country

Following the destruction of businesses and properties that trailed the #EndSARS protest, the International Monetary Fund (IMF) has said it may review the nation’s growth forecast in view of the new development in the country.

Abebe Selassie, the Director, African Department, International Monetary Fund, made the statement while responding to questions during a virtual IMF press conference on the economic outlook of Sub-Saharan Africa on Thursday.

According to him, the protest is difficult given that Lagos is a very important economic hub and contributes to the overall Nigeria activities.

Selassie said, “On the growth projections in Nigeria, I mean, these protests happened of course, after we had closed, after the period where the data we looked at in making the growth projections for this economic outlook.

“And much will depend really on how these protests evolve.

“Lagos of course, is a very important economic hub and contributes quite a bit of economic activity to overall Nigeria activities.

“So, if these persist and are showing significant effects on economic data, we will internalise them in due course.”

He further explained that the nation’s economy had been a difficult one in the last four years ever since oil prices plunged in 2015-16.

He said, “I think this is exactly why we have been on the record in Nigeria about how really critical it is to get all of the policy induced barriers out of the way to facilitate stronger economic growth.

“For the government to do more to raise revenues through the area of non-oil resources to be able to invest in health education which would, you know, allow people to be more successful at getting jobs but also improve the economy’s potential.

“So, I think that development agenda that Nigeria has, I think, has to be tackled with gusto and vigor so that the millions of jobs that the country needs can be created.”

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Economy

Oil Marketers Lose Millions as Hoodlums Set Petrol Tankers on Fire

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Petrol Importation

Oil Tankers Burnt by Hoodlums as Marketers Lose Millions to Protest

Oil marketers lost millions of Naira to repeated attacks by hoodlums exploiting the #EndSARS protest.

The Independent Petroleum Marketers Association of Nigeria on Thursday said hoodlums have been attacking their trucks since they hijacked the protest earlier in the week.

The association said three petrol laden trucks were burnt again on Thursday in Warri, Delta State.

This came as the Board of Trustees of the Oil and Solid Mineral Producing Area Landlords Association of Nigerian urged protesters across the country to sheathe their swords as the destruction of oil assets and others had become alarming.

Chief Chinedu Ukadike, the Public Relations Officer, IPMAN, who spoke in Abuja said three petrol tankers with petroleum products estimated at about N90 million were set on fire on Thursday.

He said, “The protesters are burning our petrol trucks as we speak right now in Warri. They are burning three trucks. The cost or value of the content in those trucks is about N90m.

“That is outside the worth of the trucks that are being burnt. This is why we asked our tanker drivers to park or temporarily halt the movement of products.”

Ukadike said the association decided to halt the movement of petroleum products on Wednesday to avert a further disaster that could arise attack of oil tankers by angry protesters.

That advise on the temporary halt of tankers movement was vital, particularly for volatile locations where protesters are highly aggressive. So that is what is happening now in Warri, the petrol trucks of oil marketers are being burnt,” he stated on Thursday.

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Economy

LCCI Says FG Loses N700bn to #EndSARS Protest in 12 Days

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Nigeria Loses Over N700 Billion to #EndSARS Protest in 12 Days

The Federal Government lost over N700 billion to the #EndSARS protest in twelve days, according to the Lagos Chamber of Commerce and Industry (LCCI).

Mrs. Toki Mabogunje, the President, LCCI, disclosed this while reviewing the economic implications of the just ended #EndSARS protest.

Mabogunje, who appreciated the value of citizens engagement and the demand for accountability which the protest represents, lamented the negative effect on the nation’s economy.

She said, “These are in consonance with democratic norms. They also form vital ingredients for good governance.

“LCCI is however concerned about the negative impact that the protracted nature of the EndSars protests has on business activities across the country.

“Over the past twelve days, economic activities have been crippled in most parts of the country and has been particularly profound in the urban areas.

“The Nigerian economy has suffered an estimated seven hundred billion naira (N700 billion) loss in the past twelve days.”

She further said the protest has reawakened the need to reform the shortcomings in the nation’s political governance, however added that to protect livelihoods of Nigerians, including business community, the protesters need to move to next stage of civic engagement.

This is necessary to reduce the massive disruptions, blockades and barricades around our major cities and interstate highways. These actions have been at great cost to the economy and the welfare of Nigerian citizens. It should be noted that our economy is still reeling from the shocks of the Covid 19 Pandemic and struggling to recover from its devastating effects,” she added.

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