News
Shipowners Assure NIMASA Of Proper Utilisation Of Cabotage Fund
Dr Mkgeorge Onyung, the President of the Shipowners Association of Nigeria (SOAN), has assured of members proper utilisation of the Cabotage Vessel Financing Fund (CVFF) when disbursed by the Nigerian Maritime Administration and Safety Agency (NIMASA).
Onyung gave the assurance while speaking at the Centre for Financial Journalism, the Bullion Lecture, on Thursday in Lagos.
The News Agency of Nigeria (NAN) reports that the theme of the lecture was: “Banking on Blue Economy for Nigeria’s Economic Development.”
He described the members of the association as seriousminded people in the business of shipping.
“We are not taking it as a grant, but a proper loan.
“The point is, we from SOAN, are a group of genuine ship owners. There is no member of our association that does not have a ship.
“Our members are already working with International Oil Companies and we adhere to international standards and rules. We are ready and responsible to take this facility.
“When one ship berths in our water, you will see that clearing agents and several others will be part of the business,” he said.
He appreciated the Federal Ministry of Transportation and NIMASA Director-General, Dr Bashir Jamoh, for the CVFF.
On the issue of blue economy, Onyung said that it was not a new nomenclature but had been in existence.
“Just that the United Nations drew attention to it because of the increasing poverty that was going on across the world.
“When God created the oceans, he put 700,000 species inside the water. The number of creatures in the ocean is big enough to feed us, we are just 7.7 billion. God buried all the treasure in the ocean.
“Today, we have just found a cure for sea blindness, Jamoh just told us that sea blindness is a disease that is inflicting the maritime industry and the solution to that is maritime knowledge which he has impacted on us.
“Telling us to learn more about the ocean so that we can benefit from it and we need to tap into the benefits of the ocean,” he said.
He noted that another part of blue economy which had to do with ferries was that the need to have ships that could take 450 passengers at ago to boost water transportation.
“For us to sustain the tourism and ferry transportation and make Lagos a sea transport city, we must look at the future.
“We are talking about sustainability of the blue economy, we have to be deliberate about this, so in building ports we need to ensure that free entrance and exit of ships,” he said.
In his lecture, Jamoh noted that while the country await a blue economy, a cohesive national policy to fully kick into gear, the country must for a starter become blue ambassadors, advocate for it.
“There is the need for total rethink of our waters, from a ceremonial to a commercial view, events such as Argungu Fishing Festival and others must be redesigned and repackaged from the standpoint of the blue economy.
“We must intentionally work to banish sea blindness amongst Nigerians, ensure shipyard expansion for shipbuilding and others,” he said.
Jamoh said that NIMASA was driving Nigeria blue economy through the disbursement of the $720 million CVFF, deployment of modulator floating dock, capacity building of seafarers, wreck removal, underwater marine cable regulation and management and others.
Also speaking, Mrs Jean Chiazo-Anishere, Chairman of occasion, said the country successfully bank on the blue economy to drive economic growth.
“Nigeria is blessed with vast coastline and abundant marine resources that can be harnessed for economic growth and development.
“It is just not for us to tap on the ocean resources, we need to ensure that it is sustained otherwise, we will not have anything to tap from.
“The sustainability of the blue economy is very key. It represents a significant opportunity for Nigerians to diversify it’s economy and create other ways for job creation and revenue generation by investing in things such as fisheries, aquaculture, maritime transport tourism and others.
“To fully unlock all the potential of the blue economy, it’s essential that we adopt the strategic approach,” she said.
News
Don’t Attend Nocturnal Meetings To Declare War On Rivers, Fubara Tells New CP
Rivers State Governor, Sir Siminalayi Fubara, has advised the new Commissioner of Police posted to the State, Olugbenga Adepoju, to resist the temptation of attending nocturnal meetings that will make him declare war on Rivers people.
Rather, the Governor urged him to put the general interest of the people of the State above other considerations so that he can work to ensure that peace prevailed and there is stability.
Governor Fubara gave the advice when he received CP Olugbenga Adepoju, the 47th Commissioner of Police, Rivers State Command, on courtesy visit, at Government House in Port Harcourt, last Friday.
The Governor said: “You are not a new person in our State. You’ve been here, more especially, in charge of Operations. It then means if I start to talk about my story, it’ll connect with your activities in Operations. But I am not going to talk about my story.
“But the good thing here is, you said something that I want to really anchor on. Your duty, as it stands now, is to work with the government, work with other sister agencies to maintain law and order, protect lives and property of the people of Rivers State.
“Be apolitical, as you just read in your address. Don’t go to nocturnal meetings in people’s houses, and in the morning, you come and declare war on Rivers people. That is the only advice I will give to you.”
Governor Fubara charged the CP, who is already conversant with the Rivers State terrain and its associated security challenges, to draw up a holistic plan on how to tackle the twin problem of cultism among the youths and kidnapping incidences in boundary communities.
Governor Fubara said his administration is not failing on its responsibilities to security agencies to sufficiently address those issues and save Rivers people, adding, “But the primary duty of this team, these particular challenges are rested on the police. So, please, take this one as my own assignment (to you).
“While you are carrying out the larger assignment that your people from headquarters will send you, also make sure that you look for every way possible to reduce issues of cultism because it is affecting our secondary schools, it is affecting our primary schools with students growing to become monsters, which is also leading to other issues like kidnapping and others.
“It starts from somewhere. So, we must also get to the root and reduce it. I know we cannot totally eliminate it, but, somehow, let us look for a way to reduce it.”
Governor Fubara said the former CP to the State had succeeded because he maintained healthy synergy with the State Government, and assured that the same level of support will be provided to the new CP, if he adheres to the tenets of professionalism, stressing, “On our part as a Government, we will continue to support you to make sure you succeed. Your success here will mean more elevation for you. If you have a very bad record here, whether you like it or not, it will one day in the course of your profession, affect your growth.”
In his address, Rivers State Commissioner of Police, CP Olugbenga Adepoju, expressed profound gratitude for the opportunity given to him to serve the resilient and vibrant people of Rivers State as the 47th Commissioner of Police.
CP Adepoju said he is fully aware of the complex security challenges in the State, and is determined to do everything professionally to confront them with innovation.
He said, “We will strengthen our intelligence gathering capabilities, enhance our rapid response mechanism, and most importantly, foster deeper trust and collaboration with the community we serve. Our Command will remain firmly apolitical, standing as a neutral and impartial institution, dedicated solely to upholding law and order. This commitment is vital to maintaining the trust and confidence of the people we protect.”
CP Adepoju also said: “While we will engage constructively with political leaders and key stakeholders to secure necessary resources and support, our engagement will always be conducted with professionalism and integrity”.
Meanwhile, Governor Siminalayi Fubara, and the State Commissioner of Police, Olugbenga Adepoju, have decorated two officers in Government House with their new ranks of Deputy Superintendent of Police (DSP).
They include the Personal Security Officer to the Governor, Anthony Peter, who was recently promoted from Assistant Superintendent of Police (ASP 1) to Deputy Superintendent of Police (DSP); and Provost Marshal, Government House, John Wakama, who was also promoted from Assistant Superintendent of Police (ASP 1) to Deputy Superintendent of Police (DSP).
Both the Governor and the Commissioner of Police were assisted at the short event by the wives of the newly promoted officers.
The decoration ceremony was performed shortly after the courtesy visit to the Governor by the State Commissioner of Police at the Government House, Port Harcourt, last Friday.
News
TUC Rejects VAT Hike, Urges Pro-people Tax Reforms
The Trade Union Congress of Nigeria has opposed the proposed increase in the Value Added Tax rate, as outlined in the Federal Government’s Tax Reform Bills, warning that the move could worsen the economic hardship faced by Nigerians.
The Federal Government had proposed a phased VAT hike from the current 7.5% to 10%, 12.5%, and ultimately 15%, a move the TUC described as ill-timed and detrimental to the welfare of citizens already grappling with inflation, unemployment, and a soaring cost of living.
Speaking during a press briefing in Abuja, yesterday, following the union’s National Executive Council meeting held on November 26, 2024, TUC President Festus Osifo said maintaining the VAT rate at 7.5 per cent was crucial to safeguarding Nigerians from additional financial pressure.
“Allowing the Value Added Tax rate to remain at 7.5 per cent is in the best interest of the nation. Increasing it now would impose an additional burden on households and businesses already struggling with economic challenges,” Osifo said.
He added, “With inflation, unemployment, and the cost of living on the rise, higher taxes could stifle economic growth and erode consumer purchasing power.”
The TUC called for a review of the tax exemption threshold, urging the government to raise it from N800,000 to N2.5 million per annum to ease the financial strain on low-income earners.
“This measure would increase disposable income, stimulate economic activity, and provide relief to struggling Nigerians,” Osifo explained.
He said, “The threshold for tax exemptions should be increased to N2,500,000 per annum. This adjustment would offer much-needed relief to low-income earners, enabling them to cope with the current economic challenges.”
The TUC also expressed reservations about the proposed transfer of royalty collection from the Nigerian Upstream Petroleum Regulatory Commission to the Nigeria Revenue Service (NRS), citing risks of revenue losses and inefficiencies.
“Royalty determination and reconciliation require specialised technical expertise in oil and gas operations, which the NUPRC possesses but the NRS lacks. This shift could result in inaccurate assessments, enforcement challenges, and reduced investor confidence,” Osifo warned.
The union commended the government’s decision to retain the Tertiary Education Trust Fund and the National Agency for Science and Engineering Infrastructure, describing their roles as pivotal to the country’s education and technological advancement.
“These institutions have significantly contributed to improving tertiary education and fostering homegrown technologies. Their continued existence is vital for sustained progress in education, technology, and national development,” Osifo said.
Osifo called on the Federal Government to adopt tax policies that prioritise the welfare of citizens and promote equitable economic growth.
“As discussions on the Tax Reform Bill continue, it is our hope that the focus will remain on fostering economic growth and improving living conditions for all Nigerians,” he said.
The TUC reaffirmed its commitment to advocating for policies that enhance the well-being of Nigerians, emphasising that proactive and citizen-centred reforms reflect true leadership.
News
Fubara Inaugurates Road Project To Celebrate Jackrich On Birthday
Rivers State Governor, Sir Siminalayi Fubara, has noted with delight the initiative, love and courage shown by High Chief Sobomabo Jackrich in contributing to improved road infrastructure in his community.
Governor Fubara made the commendation when he visited the country home of Amb Sobomabo Jackrich to celebrate with him on his birthday, and used the occasion to inaugurate a road project executed by the celebrant in Usokun Town in Degema Local Government Area.
Amb Sobomabo Jackrich, also known as Egberepapa, is a prominent Niger Delta leader and National Chairman of Simplicity Movement.
Governor Fubara said the road project, solely funded and completed by the celebrant, shows how committed he is to making life better for residents in his community.
The Governor said: “Let me on behalf of the guests that are here to celebrate with our brother, not really an official engagement, but on a personal note, also share a wonderful moment with our people.
“Our celebrant is not just celebrating his birthday, but he is also giving back to the society. So, I join him and all well-meaning people that believe in his course to commission this project that he has embarked on in his own accord for the betterment of his people.
“I want to say that with what I am seeing here, there may be a few things that we can also do to make this project more meaningful to the people in terms of streetlights. On our own, we are going to support him to complete it.”
Governor Fubara, who also joined the celebrant to cut the birthday cake, prayed for strength and longevity for the celebrant.
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