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Black Market Petroleum Dealers Invade Lagos Ports

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LAGOS:There are strong indications that petty black market dealers of petroleum product may have taken full advantage of the period of petroleum scarcity experienced in the country, even as scores of them can now be found hustling within the premises of the Tin Can Island port in Lagos.

As a result of the nature of the two terminals around the Tin Can Island port, being a vehicle importing terminal, the black market boys are found hovering mostly around the Ports and Terminal Multi services Limited (PTML) as well as around the Five Star Logistics Terminal looking for potential customers.

Our correspondent last week spotted the boys carrying gallons of petrol and chasing after just cleared imported vehicles that needed it to be able to move out of the port.

Due to the stress of locating filling stations around the port and the urgency with which the owners of the vehicles  need the commodity, the boys take advantage of the situation and sell the product at cut throat prices.

Investigations have also confirmed that many of the boys are equally located at the mile-2 terminal of the PTML and that they are making use of the Fort Oil Filling Station around Berger Bus-Stop along Apapa-Oshodi expressway to stash their products.

Speaking on the development today, a product supplier inside the Tincan Island Port who simply identified himself as ‘Shalom’ confirmed that the difference in the price of the product ranges from N500 to N1000.

Shalom explained that he is the only person that is permitted to supply diesel to trucks that are trying to make their way out of the Tincan port and that the Nigerian Ports Authority and the Port Police are already on the tail of other black market sellers.

“I am working inside the port as a labor worker, the reasons why i am selling in the port is just because I work inside the port”

“As am talking to you now, a lot of trucks are stranded inside the port overnight, they need diesel to be able to move out of the port, but they cannot go outside the port to bring in product, so I that am inside provide the support service of bringing it for them” he explained

Confirming the pricing of the product that are so gotten, Shallom explain that “the price outside the port and the price inside is not the same, the difference is 500 naira or 1000 naira, I don’t sell per liter, I start from twenty five liters, if I go out to buy it for 4000naira, I can give it to them inside the port for 5000 or 4,500”

 

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Maritime

Maritime Governance: Minister Deposits Three Accession Instruments At IMO

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The Honourable Minister of Marine and Blue Economy, Adegboyega Oyetola has deposited three Instruments of Accession to IMO Conventions signed by President Bola Ahmed Tinubu with the global body.

He did so on Tuesday, at the headquarters of the International Maritime Organization (IMO), which acts as the repository for these conventions.

This move, coming a few weeks after Nigeria declared its intention to contest election for a seat on the IMO Council, is expected to enhance Nigeria’s maritime governance and align its practices with international standards, promoting maritime safety, security, and environmental protection.

Shortly after the presentation ceremonies, Oyetola informed the IMO Secretary General, Arsenio Dominguez, of the President’s commitment to ensuring that Nigeria aligns with international maritime standards regarding maritime safety, security, and sustainable marine practices.

ALSO READ: NNPCL Launches Utapate Crude Oil Blend, Eyes Production Expansion In 2025

He also called on the IMO to extend technical support to Nigeria.

In his words, “These instruments, duly acceded by His Excellency, the President of the Federal Republic of Nigeria, signify Nigeria’s continued commitment to aligning with international maritime standards, ensuring maritime safety and security, and promoting sustainable marine practices.

“We hereby request tailored technical cooperation under the Integrated Technical Cooperation Programme (ITCP) to enhance Nigeria’s compliance with IMO conventions and improve our maritime governance and implementation of the instruments we submitted today.”

On his part, Dominguez, acknowledged with appreciation the formal deposition of the Instruments of Accession, stating that it underscores Nigeria’s steadfast commitment to aligning with global maritime standards.

“I congratulate Nigeria for its exceptional efforts in acceding to these six critical IMO instruments. I encourage continued momentum by securing presidential assent to additional key conventions. We at the IMO remains fully committed to supporting Nigeria through technical cooperation and capacity-building initiatives to ensure the successful implementation of these instruments,” he stated.

The instruments Oyetola handed over to Dominguez include the instrument of accession to the 2005 Protocol to the Convention for the Suppression of Unlawful Acts against the Safety of Fixed Platforms Located on the Continental Shelf (SUA Protocol 2005), the instrument of accession to the International Convention on Standards of Training, Certification, and Watchkeeping for Fishing Vessel Personnel (STCW-F), and the instrument of accession to the Protocol Relating to Intervention on the High Seas in Cases of Pollution by Substances Other Than Oil (Intervention Protocol 1973).

It was gathered that three other Instruments of Accession signed by President Tinubu are undergoing further steps to complete the processes for their deposit.

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Maritime

Capacity Dev’t: NIMASA Assures On Cabotage Vessel Financing Fund

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Funds accrued under the Cabotage Vessel Financing Fund (CVFF) are intact and currently held with the Central Bank of Nigeria (CBN) under the Single Treasury Account (TSA).

This assertion was made by the Nigerian Maritime Administration and Safety Agency (NIMASA), in a statement in Lagos on Tuesday.

The clarification became necessary to address “a misleading publication alleging that funds have disappeared from the CVFF account”.

ALSO READ: Okpebholo Hits Ground Running, Flags Off Edo’s 1st Flyover Bridge

The statement reads, in part, “The report of a missing money is both misleading and false.

“For the record, the Cabotage Vessel Financing Fund, securely held in the NIMASA account at the Central Bank of Nigeria (CBN), remains intact. There has been no disappearance of funds, and no illegal transactions, as the article suggests. This misinformation is a figment of the authors imagination, aimed at undermining NIMASA’s integrity, and mislead the public about the Agency’s operations.

“The Management of NIMASA will ensure that the CVFF is utilised in line with its statutory purpose. NIMASA Director General, Dr Mobereola has assured stakeholders of the safety of funds under the CVFF.”

The statement cited the DG thus, “Let us be clear that the CVFF account at the Central Bank of Nigeria is safe, intact, and secure. We at NIMASA will continue to manage it with the utmost responsibility, and there are no irregularities or illegal activities surrounding the funds. I urge the public to disregard this false narrative and to continue trusting the Agency’s ability to uphold the integrity of Nigeria’s maritime sector”.

It was gathered that the CVFF is a fund established under section 42 of the Coastal and Inland Shipping (Cabotage) Act 2003 to promote the development of indigenous ship acquisition capacity and to provide credit facilities to local maritime operators.

The NIMASA, assured of its commitment “to transparency, accountability, and the advancement of Nigeria’s maritime sector.”

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Maritime

Okpebholo Hits Ground Running, Flags Off Edo’s 1st Flyover Bridge

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Edo State Governor, Senator Monday Okpebholo appears eager to deliver the dividends of democracy to his constituents.

This is discernible from the frenzy of activities being witnessed in his first few days on the job, including dissolution of boards, constitution of investigative panels, flagging off of infrastructure projects, among others.

In the bid to address the perennial road traffic congestion negatively impacting economic and social activities in Benin City, the state capital, Gov Okpebholo on Wednesday flagged off the construction of a flyover bridge.

Biztellers reports that the flyover bridge around the popular Ramat Park in the city centre is the first of such in the history of Edo State.

ALSO READ: Tinubu Seeks ₦1.767tn Loan to Tackle 2024 Budget Deficit

The Edo State Government made the disclosure in its verified handle on micro-blogging site, X, on Wednesday.

It wrote, “Traffic decongestion: Gov Okpebholo flags off first flyover in Edo.
“Edo State Governor, Sen. Monday Okpebholo has flagged off the construction of a flyover bridge at Ramat Park, Benin City, the State Capital, as part of immediate efforts to reduce traffic congestion in the city.”

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