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Tin-Can Island port customs collects N22.3bn revenue in November

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LAGOS-The Tin-Can Island Port Command of the Nigeria Customs Service (NCS) said yesterday in Lagos that it collected N22.3 billion revenue in November.

The Public Relations Officer of the command, Mr Chris Osunkwo, told the News Agency of Nigeria (NAN) that the amount was less than the N27.1 billion collected in October.
Osunkwo attributed the decrease to the forces of demand and supply.

In October we made approximately N27.1 billion; whereas in November we had N22. 3billion.

“A lot of factors are responsible for the difference, particularly the forces of demand and supply.

“When you try to find out from the traders, they tell you that trading activities are at their lowest ebb because they observed that the people’s purchasing power dropped and as such, their warehouses are still filled up.

“You will have to sell and realise money to be able to come and clear or you import fresh ones.

“The level of compliance is gradually improving because we just celebrated the first anniversary

NAN of PAAR (Pre-Arrival Assessment Report)

“PAAR just clocked one on Dec. 1, and among the things PAAR is here to achieve is to make the trading public become more compliant.
“If you are honest, you give appropriate and accurate information without trying to cut corners, definitely, you will have everything going for you.”

He commended the Comptroller-General of Customs, Alhaji Dikko Abdullahi, for “taking the service to the next level”.

Osunkwo said the comptroller-general worked tirelessly to make the service the pride of the nation.

A breakdown of the revenue showed that in November, the command raked in N18.1 billion into the Federation Account and N4.1 billion into the Non-Federation Account.

NAN also reports that Import Duty fetched N13.2 billion; Fees N52.2 million; Common External Tariffs (CET) N785 million; while N4 billion was collected as five per cent Value Added Tax (VAT).

The command also collected N930.8 million on Seven per cent Surcharge; one per cent Comprehensive Import Supervision Scheme (CISS) fetched N974.8 million; while it recorded N573.3.2 million on ECOWAS Trade Liberalisation Scheme (ETLS).

Other revenues are: sugar (N78.6 million); rice (N813.1 million); brown rice (N150,277); wheat flour (N451,343); wheat grain (N474.6 million) ; and iron (N2.5 million).

NAN-Lagos Tincan Port

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.

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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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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.

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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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