Business Africa
FG grants approval for zero import duty on vessel acquisition by ship owners
The federal government has announced the approval of zero import duty for the acquisition of vessels by shipowners. This is part of the tax incentive by the federal ministry of transportation for the maritime sector in order to boost investment and stimulate growth in the industry.
This disclosure was made by the director-general of the Nigerian maritime administration and safety agency, dr Bashir jamoh, during a session at the maiden edition of the Nigeria international maritime summit held in Lagos on Tuesday, with the theme, ‘becoming a significant maritime nation
Dr. Jamoh, in his advice, said that for the country to become a maritime nation, the government needs to focus on such areas as security and incentives which are physical and monetary to help the sector grow.
He argued that no nation could develop without the maritime industry noting that the country’s aspiration to be a maritime country was not debatable but necessary.
The nimasa boss said that the zero import duty, which is a physical incentive presented to the ministry, had been approved in August and is expected to create a situation where the country will be having a national fleet.
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Business Africa
Fuel scarcity looms as NUPENG threatens FG With Strike
The Nigerian Union of Petroleum and Natural Gas (NUPENG) has issued a two-week strike notice to the federal government, raising the possibility of fuel scarcity across the country in the coming weeks.
This was contained in a statement jointly signed by NUPENG President, Williams Akhoreha, and General Secretary, Olawale Afolabi, Monday.
The union said the notice of strike was one of the decisions reached at its special national delegates conference Thursday.
It listed non-payment of workers’ salaries and benefits, among others, as reasons for its resolution.
One of the issues, NUPENG said, was the outstanding payment of terminal benefits to its members that were declared redundant in 2012 by the management of Chevron Nigeria limited.
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Business Africa
LCCI pushes for growth in intra-African trade
The Lagos Chamber of Commerce and Industry has said it aims to promote intra-African trade at the 35th edition of its annual Lagos International Trade Fair.
The Director-General of the LCCI, Dr. Chinyere Almona, said in a statement on Wednesday that this year’s edition would feature business-to-business meetings simultaneously with the general interest fair.
She said, the focus this year is to encourage intra-African trade and position Africa as the preferred investment destination and an economic powerhouse adding that The exhibition will also facilitate networking amongst exhibitors and between exhibitors and visitors.
She said corporate organisations, including multinational corporations, indigenous conglomerates, financial institutions, and small and medium businesses, had indicated interest in participating at the fair and relevant agencies and departments of government would also be available to exhibit and attend to other exhibitors and visitors.
She said agencies that had confirmed attendance to provide information and educate exhibitors and visitors were the Bank of Industry and Nigerian Export Promotion Council, among others.
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Business Africa
NEPC Empowers 60 Osun SMES for Export Business
The Nigerian Export Promotion Council has organised a workshop for over 60 operators of Small and Medium-scale Enterprises in Osun State on how to make their products fit for export.
The workshop, which was held in Osogbo, was tagged ‘Facilitating strategic export market access programme in collaboration with the trade support institutions.’
The Assistant Director, Policy and Strategy Department, NEPC, Aliu Saddique, said the participants were SMEs owners with the potential to export to the international market.
He said the council was using the model developed by the Centre for the Promotion of Imports from Developing Countries to train the participants so as to enable them to have a good understanding of the demands of the international market.
While speaking, The Osun State Commissioner for Commerce, Cooperatives, Industries and Empowerment, Dr. Bode Olaonipekun, called for serious planning ahead of the time when crude oil would no longer bring revenue for the country again.
Olaonipeokun, who also blamed the current economic hardship on the neglect of non-oil export, said planning for the era without oil must start immediately to avert economic crises.
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