Business

Manufacturers Earn N1.67trn From Exports In Nine Months

Published

5 years ago

January 6, 2020

Between January and September 2019, manufacturers earned a total of N1.67trn through exports of manufactured products, report from the National Bureau of Statistics (NBS) has indicated.
A breakdown of the amount showed that manufacturers earned about N462.33 billion in the first quarter of last year.
The amount, according to the report, represents 10.2 per cent of the total export for the nine-month period.
Out of the N462.33 billion, the sum of N312.8 billion was earned in January while February and March fetched N98.41billion and N51.12 billion respectively.
A further analysis of the report showed that manufactured goods such as vessels and other floating structures valued at N202.6 billion were exported to Angola in the first quarter.
In addition, refrigerated vessels worth N69.6 billion were exported to Ghana, while other light vessels valued at N12.6 billion were also exported to the United States during the period under review.
For the second quarter of last year, manufacturers’ earnings dropped by N355.43 billion from the first quarter figure of N462.33 billion to N106.9 billion.
A breakdown of the N106.9 billion showed that goods valued at N32.65 billion were exported by manufacturers in May, N62.36 billion in June while July had N11.08 billion.
During the second quarter, vessels and other floating structures valued at N27 billion, N12.6 billion and N3.3 billion were exported to Cameroon, Argentina, and Namibia respectively.
Other floating structures worth N7.7 billion were exported to the United Arab Emirates, according to the NBS data.
In addition, other cigars, cheroots, cigarillos and cigarettes with other tobacco products worth N2 billion were exported to the Niger Republic.
For the third quarter of 2019, the amount earned by manufacturers from exports rose from the second quarter figure of N106.9 billion to N996.78 billion.
A further analysis of the report showed that goods worth N162.93 were exported in July, while August and September recorded N66.98bn and N766.87 billion respectively.
It said this was driven by exports of cable sheaths of iron and steel valued at N750.3 billion exported to Ghana.
The report added that floating and submersible drilling platforms were exported to Ghana and valued at N117.4 billion.
It put vessels and other floating structures for breaking up exported to Cameroon at N41.7 billion.
The Manufacturers Association of Nigeria said the infrastructural deficit had continued to impede industrial growth and denied the country the much-needed foreign direct investment.
It also said that multiple levies and taxes and other anti-investment policies of the agencies of the government must be addressed in the new year.
The Director-General, MAN, Mr Segun Ajai-Kadir, noted that there appeared to be challenging times ahead, given the current policies of the current regime and its objectives.

Business

NIMASA Commits To Creating Enabling Environment For Maritime Business

Published

1 day ago

March 5, 2025

The Tide

The Nigerian Maritime Administration and Safety Agency (NIMASA) has affirmed that it is taking strategic steps to enhance local participation and encourage investment in the maritime sector under the supervision of the Ministry of Marine and Blue Economy.

The Director General of NIMASA, Dr. Dayo Mobereola, who disclosed this recently while receiving the Executive Members of the Nigerian Merchant Navy Officers and Water Transport Senior Staff Association, reaffirmed the Agency’s commitment to fostering a level playing field and creating an enabling environment for businesses in Nigeria’s maritime sector.

Dr. Mobereola revealed that NIMASA is deepening its collaboration with the Nigerian Content Development and Monitoring Board (NCDMB) to explore policies that will boost indigenous involvement and strengthen Nigeria’s maritime sector.

“The Honourable Minister of Marine and Blue Economy is committed to encouraging indigenous players to invest more in Nigeria’s maritime industry. Issues such as national carriers and trade terms remain top priorities under this administration.

“Our focus is to create an enabling environment where private investors can thrive. In this regard, we have initiated discussions with the NCDMB and NNPC Limited to address these critical matters”, he stated.

He said NIMASA remains committed to fostering strategic partnerships that will enhance local investment, create jobs, and drive sustainable growth in the maritime sector.

In response, Comrade John Aleakhue Okpono, Secretary General of the Merchant Navy Officers and Water Transport Senior Staff Association, emphasized the need for closer collaboration between NIMASA and the Merchant Navy.

He also urged the Agency to review waiver clauses to ensure more opportunities for Nigerian seafarers.

Stories by Nkpemenyie Mcdominic, Lagos

Business

FG Inaugurates Special Committee Against Boat Accident

Published

1 day ago

March 5, 2025

The Tide

Towards enhancing safety on Nigeria’s inland waterways, the Federal Government, through the Minister of Marine and Blue Economy, Adegboyega Oyetola, has inaugurated a Special Committee on the Prevention of Boat Mishaps in Nigeria.

According to a statement on by the spokesman, National Inland Waterways Authority (NIWA), Suleiman Makama, the event, which was held at the Ministry’s Conference Room in Abuja, confirmed crucial steps taken to address the recurring challenges of boat accidents across the country.

In his address, the Honourable Minister emphasized the urgent need to stem the tide of tragic boat mishaps, which have resulted in significant loss of lives and properties.

He described the country’s waterways as vital to commerce, transportation, and livelihoods, stressing that their safety and efficiency are paramount to the development of Nigeria’s blue economy.

He noted that the establishment of this committee aligns with the 2024 International World Maritime Day theme, “Navigating the Future: Safety First”.

“The task before us is daunting, but with unwavering commitment, we can eliminate boat mishaps and ensure that our waterways remain safe, navigable, and prosperous for generations to come”, Oyetola stated.

The committee comprises key stakeholders, including state government representatives, the Association of Boat Operators in Nigeria, marine safety experts, and academics.

It will be chaired by the Managing Director of the National Inland Waterways Authority (NIWA), Mr. Bola Oyebamiji, while Mr. Adams Offie, Deputy Director of Inland Waterways at the Ministry, will serve as Secretary.

The committee is tasked with conducting an in-depth review of commercial boat operations in Nigeria, identifying the root causes of boat mishaps, and proposing sustainable solutions.

In his acceptance speech on behalf of the committee, Oyebamiji assured the Minister on the dedication of members to deliver on the assignment.

He emphasized that safety on Nigeria’s inland waterways is non-negotiable, adding that NIWA, under the leadership of the Honourable Minister, has been refocused to uphold its mandate without compromise.

Acknowledging the Honourable Minister of Marine and Blue Economy for his proactive leadership, Oyebamiji noted that the establishment of the committee represents a critical step in addressing the persistent safety challenges in inland water transport.

“This is another solution-driven initiative aimed at eliminating boat mishaps on our waterways. I assure you that the confidence reposed in this committee will not be misplaced.

“At NIWA, this is an opportunity for us to intensify our efforts in reducing marine accidents to the barest minimum. On behalf of my fellow committee members, we pledge to work diligently and with utmost focus on the assigned terms of reference.

“Safety on our inland waterways is non-negotiable. NIWA has been refocused to ensure the highest safety standards, and this committee will work diligently to address the causes of boat mishaps and find lasting solutions,” Oyebamiji said.

The committee has been tasked with evaluating the root causes of boat accidents and recommending lasting solutions to enhance safety and operational standards.

Business

LASG Arrests Illegal Dredgers … Issues Stop Work Order

Published

1 day ago

March 5, 2025

The Tide

The Lagos State Government, through the Ministry of Waterfront Infrastructure Development, has launched a massive clampdown on illegal dredgers operating in the State, ordering them to stop work immediately.

This exercise, which was carried out by the officials of the Ministry of Waterfront Infrastructure Development, is aimed at curbing environmental degradation and promoting sustainable development across the waterfront schemes located across the coastal regions of the metropolis.

According to a statement, the enforcement operation, led by the Commissioner for Waterfront Infrastructure Development, Hon. Ekundayo Alebiosu, alongside members of his team, raided several illegal dredging sites which were subsequently shut down by the officials of the Ministry.

Some suspected dredging operators were arrested and a stop-work order was served on erring dredgers for non-compliance with laid-down regulations of the State Government.

Alebiosu warned the operators that failure to comply with extant laws guiding dredging activities could have dire effects and will result in severe penalties, including total closure of the sites.

Reacting to the claim that Dredgers are the major cause of environmental degradation in the state, including erosion and flooding, the Commissioner emphasised the need for dredging activities to be conducted lawfully to preserve roads, public infrastructure, and wetlands.

He explained that the State Government has vowed to streamline the activities of dredgers in the state to meet acceptable international standards.

“The Lagos State Government’s clampdown on illegal dredgers is a significant step towards protecting the environment and promoting sustainable development in the state.

“We will continue to carry out surveillance and raids across the coastal areas to ensure that the activities of a few don’t impact the lives of law-abiding citizens negatively”, Alebiosu stated.