NPA Begins Electronic Truck Call-Up System

The Nigerian Ports Authority (NPA) has announced the commencement of Electronic Truck, Eto Call-Up System as part of efforts to address the road traffic challenge on ports access roads especially at Apapa.

The measure which is viewed as a timely development is believed will bring lastimg solution to the problem of truck congestion around Apapa ports and its environs.

A statement issued Friday by Assistant General Manager, Corporate &Strategic Communications, Ibrahim S. Nasiru, NPA explained that the system is designed for the management of truck movement and access to and from the Lagos Ports Complex and the Tin Can Island Ports, Apapa, Lagos State.

” The Authority is pleased to announce the commencement of the Electronic Truck call-up system, designed for the management of truck movement and access to and from the Lagos Ports Complex and the Tin Can Island Ports, Apapa, Lagos.

“All trucks doing business at the ports will be required to park at the approved truck parks until they are called up into the port through the Eto app.

“The Eto app will be responsible for the scheduling, entry and exit of all trucks into the ports with effect from February 27.

“Therefore, all transporters, trucks owners and truck drivers will be required to download the Eto App from Google play store or sign up at http://eto.ttp.com.ng before the commencement date to enable them register accordingly.

“In addition to this, cargo owners should please note that empty containers can only be returned to the ports through the approved holding bays of shipping companies using the Eto Platform. It is the responsibility of the shipping company to move empty containers from their holding bay to the Port. All cargo owners have to do is drop their empty containers at the holding bay of the shipping company. The shipping company will then make the necessary bookings on the Eto platform to return empty containers to the Port.

“The management of the NPA solicits the cooperation of transporters, truck drivers, cargo owners, clearing agents shipping companies and all port users in the implementation of the project, which will bring order and sanity to the ports access roads.

“Non-compliance to the use of Eto and its guidelines will result in denial of access into the Ports, impounding of trucks and withdrawal of registration/operating license“, the statement said.

MAJAN Applauds Reappointment Of Hadiza Usman As NPA MD.

The Maritime Journalists Association of Nigeria (MAJAN has applauded the reappointment of Hadiza Bala Usman as the Managing Director of Nigerian Ports Authority (NPA), for a second term of five years.

President of the association Comrade Ray Ugochukwu, a seasoned Journalists and Editor-in-chief of the Powerful Pen Newspaper who gave the commendation described her reappointment as an honour well deserved.

According to him, “Her reappointment will ensure continuity in policies implementation geared towards development of the port industry in Nigeria.

He pointed to the perennial traffic gridlock on ports access roads as one of the major tasks before Hadiza as she mounts the saddle for a second term in office as NPA Managing Director.

Speaking further, the MAJAN President called on port users and relevant stakeholders in the maritime industry to support NPA in ensuring that the port industry is well re-positioned for greater productivity.

He advised, “As a regulatory Agency in the maritime industry, NPA is saddled with enormous tasks and stakeholders must work in synergy with the Authority to move the industry forward” .

NG Clearing Limited, Acquires Clearing,   Technology For Its Operations

Tapas Das, NG Clearing
Tapas Das, NG Clearing
Nigeria’s premier central counterparty, NG Clearing Limited, has announced that it has signed an agreement with a leading software development firm, Mantissa Infotech Private Limited, for the development, implementation and maintenance of bespoke clearing
and settlement technology for its operations.

The announcement follows the receipt of an approval in principle from the Securities and Exchange Commission (SEC) in September 2020, to clear and settle exchange traded derivatives instruments,

Speaking on the development, the company’s Managing Director & Chief Executive Officer, Mr. Tapas Das, said: “We are very excited about this deal, as the deployment of the technology platform puts us in a position to commence operations as soon as we receive final approval from the SEC. The technology platform will support the clearing and settlement ofderivative instruments across various asset classes such as futures and options contracts on
indices, equity shares, commodities, currency, rates etc.
“Mantissa’s vast experience and end-to-end capability in providing a suite of bespoke technology solutions to leading exchanges and clearing houses in India comes in very handy,having provided both the trading and the clearing & settlement software for 14 years to the
National Multi-Commodity Exchange of India Limited (NMCEIL), which was the first national level commodity exchange in India, until NMCEIL was merged with Indian Commodity Exchange Limited (ICEX) in 2018.
“Mantissa’s broad experience from providing its technology service to various market infrastructure, including NMCEIL, Metropolitan Stock Exchange of India Limited (MSE), Metropolitan Clearing Corporation of India Limited (MCCIL) and ICEX, has been beneficial in
the development of the state of the art technology and we expect that our stakeholders will find the technology very versatile and useful.”

NG Clearing Limited is promoted by The Nigerian Stock Exchange and Central Securities Clearing System Plc along with key stakeholders like the Nigeria Sovereign Investment Authority, Access Bank Plc, Consonance Kuramo Special Opportunities, Coronation Merchant
Bank Limited, Greenwich Merchant Bank Limited, Union Bank of Nigeria Plc, United Bank for Africa and Association of Securities Dealing Houses in Nigeria.

Apapa Gridlock: Stakeholders Want NSC, NPA To Gear-up

 

Chairman, TinCan Port Chapter, NCMCLA, tAlhaji Isa kazeem, Special Guest of Honour, flanked by Secretary, NCMDCLA and President MAJAN, Ray Ugochukwu :
Chairman, TinCan Port Chapter, NCMCLA, tAlhaji Isa kazeem, Special Guest of Honour, flanked by Secretary, NCMDCLA and President MAJAN, Ray Ugochukwu :
Government agencies in the maritime sector such as the Nigeria Shippers’ Council (NSC) and the Nigerian Ports Authority (NPA) must gear-up and wake up to their responsibilities if the problem of Apapa gridlock must be solved.

Stakeholders at the Powerful Pen Media special Congress held in Lagos who insisted that one of the major causes of the Apapa gridlock is the absence of holding bay for empty containers maintained that unless this is addressed, the solution may be farfetched.

Tincan chapter Chairman of the National Council of Managing Directors of Licensed Customs Agents (NCMDLCA), Alh. Kazeem Isa Adua while insisting that the difficulty of access and exit at the ports is one of the reasons why Nigerian ports are the most expensive in the subregion and contribute about 35 percent of the cost of operations, said ” NPA and Shippers Council who are the Federal Government watchdog must monitor the activities of terminal operators in the area to ensure the terminal operators have dumping bays or holding bays as well as put up truck call-up mechanism to ease free flow of traffic within the ports.”

Managing Director, Bontex Nigeria Ltd., Chief Boniface Okoye, in the same vein, noted that the shipping companies are not regulated and that the terminal operators do not listen to anybody and exploit Nigerians without being checked, through container deposits that are often not refunded, reckless demurrage charges and similar other nefarious practices.
Chief Okoye equally faulted the consessioning of the nation’s ports to those who he said lacked the capacity to provide infrastructures or effectively manage the nations ports.
He insisted that the same people who own the shipping companies are the ones who influence policies as well as collude with traffic managers to frustrate agents’ efforts.”

The shipping companies he further noted are not checked, hence they operate with reckless abandon.

He criticised the NSC for failing to regulate what the shippers pay to the shipping companies, but rather approve whatever the shipping companies charge because of pecuniary interest.

Also in an Earlier address Chairman of National Association of Road Transport owners (NARTO), Alh. Abdulahi Inua who called on the relevant authorities to mandate the shipping companies to provide holding bays for empty containers expressed the view that close to 80 per cent the trucks blocking the roads are carrying empty containers.

NNPC Announces $120.49m Crude Oil Receipt in September

The Nigerian National Petroleum Corporation (NNPC) has announced a total export receipt for crude oil and gas valued at $120.49 million for the month of September 2020.

A press release by the Group General Manager, Group Public Affairs Division of the Corporation, Dr. Kennie Obateru, stated that the figure is contained in the September 2020 edition of the NNPC Monthly Financial and Operations Report (MFOR).
The $120.49 million crude oil and gas export receipt is a 16.28 per cent improvement on the $100.88 million posted in August 2020.
The report showed that out of the figure, proceeds from crude oil amounted to $85.40 million while gas and miscellaneous receipts stood at $25.31 million and $9.78 million respectively.
The September 2020 MFOR also indicated a trading surplus of ₦28.38 billion slightly lower than the ₦29.60 billion surplus in August 2020.
The marginal reduction in surplus, according to the report, was as a result of lower contribution from the Nigerian Petroleum Development Company (NPDC) which recorded zero crude oil lifting from the Okono Okpoho facility during the month due to ongoing repairs.
However, other NNPC subsidiaries namely the Integrated Data Services Limited (IDSL), National Engineering and Technical Company Limited (NETCO), Nigerian Gas Marketing Company (NGMC), Petroleum Products Marketing Company (PPMC) and NNPC Retail posted impressive trading results recording 268%, 234%, 21%, 422% and 41% trading surpluses respectively over their previous month’s performance.
In the gas sector, a total of 223.82billion cubic feet (bcf) of natural gas was produced in the month under review translating to an average daily production of 7,460.80million standard cubic feet per day (mmscfd).
For the period September 2019 to September 2020, a total of 3,039.05bcf of gas was produced representing an average daily production of 7,730.35mmscfd during the period. Period-to-date production from Joint Ventures (JVs), Production Sharing Contracts (PSCs) and NPDC contributed about 69.10%, 20.29% and 10.61% respectively to the total national gas production.
Out of the 221.91bcf of gas supplied in September 2020, a total of 140.45bcf was commercialized, consisting of 36.37bcf and 104.08bcf for the domestic and export markets respectively.
This translates to a total supply of 1,212.17mmscfd of gas to the domestic market and 3,469.45mmscfd of gas supplied to the export market for the month.
This implies that 63.29% of the average daily gas produced was commercialized while the balance of 36.71% was re-injected, used as upstream fuel gas or flared. Gas flare rate was 6.66% for the month under review (i.e. 492.93mmscfd compared with average gas flare rate of 5.84% i.e. 439.90 mmscfd for the period of September 2019 to September 2020).
To ensure effective supply and distribution of Premium Motor Spirit (PMS) across the country, a total of 0.59bn litres of PMS translating to 19.59mn liters/day was supplied for the month in the downstream sector.
During the period under review, 21 pipeline points were vandalized representing about 43% decrease from the 37 points recorded in August 2020.
Of this figure, Mosimi Area accounted for 90% of the vandalized points, while Port Harcourt Area accounted for the remaining 10%. NNPC, in collaboration with the local communities and other stakeholders, continuously strive to reduce and eventually eliminate this menace.
The 62nd edition of the MFOR highlights NNPC’s activities for the period of September 2019 to September 2020.
In line with the Corporation’s commitment of becoming more accountable, transparent and driven by performance excellence, the Corporation has continued to sustain effective communication with stakeholders through the MFOR and other reports published on its website and in national dailies.

FMDQ Admits Total Nigeria PLC, Valency Agro Nig. Ltd. And Mixta Real  Estate PLC CPs On 2021 Activity kick Off

FMDQ- logo
FMDQ- logo
FMDQ Securities Exchange Limited has Kicked Off activities for year 2021 with the Admission of Total Nigeria PLC, Valency Agro Nig. Ltd. and Mixta Real Estate PLC Commercial Papers (CPs).new year 2021 arrived This move is in line with renewed hopes for the continued development of the Nigerian financial markets as corporates commence with planning towards the achievement of their strategic goals and objectives,
The Nigerian Commercial Paper (“CP”) market, even during the ‘high-points’ of the pandemic last year, continued to provide succour to both private and public institutions and as we begin
the new year. FMDQ Securities Exchange Limited has through innovative
evolution continued to avail its credible and efficient platform as well as tailor its Listings and Quotations
services to suit the needs of issuers and its Registeration Members (sponsors of the issue on FMDQ Exchange).

Following the due diligence process, the Exchange, through its Board Listings and Markets Committee approved the quotation of Total Nigeria PLC ₦2.25 billion Series 1 and ₦12.75 billion Series 2 Commercial Papers under its ₦30.00 billion CP Issuance Programme and the Mixta Real Estate PLC ₦2.00 billion Series 32 Commercial Paper under its ₦20.00 billion CP Issuance Programme, as well as the registration of the Valency Agro Nigeria Limited ₦20.00 billion Commercial Paper Programme, on its platform.

The debut issuance of Total Nigeria PLC (Total Nigeria)’s CP, following a volatile period for the oil and gas
industry as disrupted by the COVID-19 pandemic demonstrates innovation and confidence in the Nigerian debt capital market (DCM) towards supporting the vibrance of this sector and in turn the reactivation of the Nigerian economy. The issue attracted significant demand from a wide range of investors- resulting in a subscription level of over 4 times the initial issue size – a demonstration of investor confidence in the company.
Commenting on the quotation of the Issue, the Managing Director of Total Nigeria, Mr. Imrane Barry,explained that “the Programme was set up to enable the company further broaden its sources of capital by accessing funding from the Nigerian debt capital markets, while also reducing its overall funding costs”.
He thanked investors for supporting the company’s debut Issue and commended the financial advisers, Stanbic IBTC Capital Limited and FBNQuest Merchant Bank Limited, for ensuring the success of the Issue despite the challenging environment. Also commenting on the quotation, Tokunbo Aturamu, Head of Debt Capital Markets, Stanbic IBTC Capital expressed his delight that Total Nigeria has joined the growing list of blue-chip corporates who have embraced CP issuances in the Nigerian debt capital markets as a means of funding their working capital requirements. He also thanked the Board and Management of Total Nigeria for the opportunity given to Stanbic IBTC Capital to act as Sole Arranger, as well as Joint Dealer alongside FBNQuest Merchant Bank, to the ₦15.00 billion debut CP issuance under the Programme.
In the same vein., with double-digit inflation rates and soaring food prices compounded by the growing Nigerian population, it has become more imperative to catalyse the country’s agricultural value chain transformation in a bid to drive increased and sustainable production of agricultural products as well as foreign earnings through exports. Valency Agro Nigeria Limited (Valency Agro), is incorporated in Nigeria as a private limited liability company under Valency International Pte Limited (Valency International) – an International commodity trading house with its presence in over 15 countries – deals in the sourcing, production, and trading of Agro and consumer food products. In his remarks, the Managing Director,Valency International Pte Ltd, Mr. Sunil Dhanuka, said “We are glad for the successful registration of Valency Agro’s ₦20.00 billion CP Issuance Programme. We also commend FMDQ for the seamless process despite the COVID-19 pandemic and the various restrictions.
In line with our vision to grow within the agricultural value chain in Nigeria, Valency Agro is committed to ensure the growth of the Agriculture sector through our deep involvement in Cashew, Sesame, Cocoa and other produce. Proceeds from this CP Programme will be used towards meeting the midterm working capital requirements of the various agricultural produce and on value addition prior to export”.
The registration and quotation of these CPs on FMDQ Exchange endorse the evolution of FMDQ Holdings PLC (“FMDQ” or “FMDQ Group”) into a world-class vertically integrated financial market infrastructure group and its strategic role as a market organiser, committed to advancing the growth of the Nigerian
financial market.
FMDQ Group is unwavering in its pursuit of product and market innovation as well as stakeholder engagement, towards making the Nigerian financial market globally competitive, operationally excellent,liquid and diverse, in line with its GOLD Agenda. FMDQ continues to bring about revolutionary changes in
the Nigerian capital market through its exchange, clearing, depository and private markets subsidiaries; providing a seamless process and value-chain for market participants to commence and end their financial market transactions.

ILECCIMA Celebrates NACCIMA@60 With Grants For Micro Businesses In Ijeshaland

ILIECCIMA Awards
ILIECCIMA Awards
Ilesa Chamber of Commerce, Industry, Mines and Agriculture (ILECCIMA) is celebrating NACCIMA@60 with Charity Grants to twenty women-led, micro businesses from Ilesa East and West Local Government Areas of Osun State.

ILECCIMA is a member of Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) which was established in the year 1960. ILECCIMA is an incorporated Chamber of Commerce, limited by guarantee, and committed to the economic development of its jurisdiction, through advocacy, capacity building, business development linkages, and entrepreneurship in Ijesaland, Osun State and beyond.

In commemorating the 60th Anniversary of Chambers’ Movement in Nigeria, ILECCIMA considered the empowerment of informal businesses at the base of the local economic pyramid as a means of mitigating the impact of COVID-19 and contributing to the achievement of the Sustainable Development Goals One and Five (Goal 1: Ending poverty in every ramification by 2030) and (Goal 5: Achieve gender equality and empower women and girls). Furthermore, it is one of the avenues designed by the Chamber to impact the informal sector of businesses in Ijesaland and to reach out to the lowest rung of our economic ladder.
At least 20 female owned micro food production businesses and farm produce trades such as Ogi, Eko, Mama-put food , Moin-moin, Gaari, Plantain chips, Potatoes chips, Confectionaries, Boiled rice and beans, Boiled yam and stew, Vegetable trade, Fruits trade, Palm-Oil and Soap making were selected out of the 60 applications received within a week.
A day seminar on basic business skills was organized for the awardees at Ilesa Business School. Some of the skills learnt were business goal setting, business communication skills, marketing skills, negotiation skill, financial management skills, and networking skills. The participants were also guided to apply for the Federal Government free registration of business names. Also, the beneficiaries were constituted into a Cooperative Society, while an Awards Ceremony to formally present the Grants and Certificate of Training to the beneficiaries was organized on Thursday the 12th of November 2020.
In attendance at the event were Arc Ayo Osunloye (President), Hon Sola Joshua (1st Deputy President), Mrs Oluyemisi Olukanni (2nd Deputy President), Mrs Moji Fapohunda (Asst Treasurer), Mr Demola Tejumola (PRO), Mrs Funmi Olujide (Member), Mr Femi Kazeem (Financial Secretary), and Dr Olu Olujide (Executive Secretary). Beneficiaries were enjoined to use the grants for the purpose for which it was given. The leader of the group, Mrs Riike Akinsete appreciated the support, and officially announced the name of the Cooperative Society as Fulfillment Cooperative Society. She further announced the names of members of her executive committee, Mrs Damilola Adagun (Vice President), Mrs Nifemi Akinloye (General Secretary), Mrs Oluyemi Ibukun (PRO) and Mrs Jelila Kelani (Treasurer).

96 Reputable Firms Submit Bids For NNPC  Downstream Infrastructure Rehab.

NNPC
NNPC
Buoyed up by the culture of Transparency, Accountability and Performance Excellence (TAPE) of the current NNPC management, no fewer than (96) prominent and reputable companies from various jurisdictions have indicated interest in undertaking the rehabilitation of the Nigerian National Petroleum Corporation’s (NNPC) downstream infrastructure ranging from critical pipelines to depots and terminals through the Build, Operate and Transfer (BOT) financing model.
This was disclosed at a virtual public bid opening exercise which held at the NNPC Towers, Abuja for the pre-qualification of companies for the contract.
A press statement by the Group General Manager, Group Public Affairs Division of the NNPC, Dr. Kennie Obateru, explained that the public opening of the bids for the contract was in keeping with the NNPC Management’s commitment to transparency and accountability in all its processes and transactions.
Speaking at the event, the Managing Director of the Nigerian Pipelines and Storage Company (NPSC), Mrs. Ada Oyetunde, disclosed that the exercise was in conformity with the mandate of the Federal Government to prioritise the rehabilitation of critical downstream infrastructure across the country.
She listed the facilities that would be rehabilitated by successful bidders to include critical pipelines for crude oil supply to the refineries and evacuation of refined products, depots, and terminals, stressing that the objective is to get them ready to support the refineries when they become operational after their rehabilitation.
“An open tender for pre-qualification of interested companies was published in August 2020 in the national dailies, for the rehabilitation of NNPC downstream critical pipelines and associated depots and terminal infrastructure through Finance BOT to cover the 4 lots namely: Lot 1: Port Harcourt Refinery related infrastructure, Lot 2: Warri Refinery related infrastructure, Lot 3: Kaduna Refinery related infrastructure and Lot 4: System 2B related infrastructure,” Mrs. Oyetunde stated.
The NPSC boss said that the BOT arrangement would provide a reliable pipeline network and automated storage facilities for effective crude feed, product storage and evacuation from the nation’s refineries post-revamp through an open access model and charge market reflective prices and tariffs to recover the investment.
Earlier, the Group General Manager, Supply Chain Management, Mrs. Aisha Katagum, commended the Infrastructure Concession Regulatory Commission (ICRC), and the Bureau of Public Procurement (BPP) for providing guidance for the project and assured the bidding firms of a fair, equitable and transparent selection process.
On hand to observe proceedings at the public bid opening exercise were representatives of the ICRC, BPP, the Nigeria Extractive Industries Transparency Initiative (NEITI) and Civil Liberties Organisations (CLOs).
Highpoint of the event was the display of the 96 companies that submitted bids for the rehabilitation projects.

Customs FOU Zone ‘A’ Recovers N1.8bn Revenue In  Year 2020

Acting Controller YAHAYA
Acting Controller YAHAYA
A total of N1.8 billion has been recovered by the Federal Operations Unit Zone ‘A’, Lagos of the Nigeria Customs Service between January and December 2020.

The unit which statutorily compliments the Area Commands through interventions as part of its mandate; to patrol, intercept suspected smuggled items and access warehouses suspected to be used by smugglers and duty evaders explained that the said sum has already been paid into the Federation Account of the government.

The lost revenue it further noted was recovered by identifying shortfalls on duty payments and subsequent issuance of demand notices DN; sequel to interceptions and documentary checks.

Acting Controller in charge of the unit, DC Usman Yahaya, in a statement in Lagos, Thursday, said that the unit seized contraband goods with a total duty paid value DPV of N20.89billion. These include 31,129 50kg bags of imported rice, 11,290 cartons of foreign poultry products, 3,562kg of Indian Hemp, 9,801 kegs of 25 litres of vegetable oil, 560 units of used vehicles and 24,612 pieces of used tyres.

The statement signed on his behalf by the Public Relations Officer, Theophilus Duniya reads in part: “As an anti-smuggling unit, we remain resolute to the course of protecting our national security and economy. In remaining uncompromising in the fight against smuggling, duty evasion and other offences that contravene different sections of the extant laws that we have seized these goods within the period under review.”

According to him, no consignment or goods on transit would be unjustifiably delayed as long as there is compliance with the extant guidelines on the procedure for import and export clearance. “We are totally committed to the course of facilitating legitimate trade”.

He attributed this feat to credible information and intelligence gathering and therefore pleaded for timely and credible information from patriotic citizens that would assist the unit carry out its duties diligently.

“While we remain grateful to our esteemed critical stakeholders and patriotic citizens for their unflinching support, we also appeal to traditional rulers, teachers, religious leaders and parents to urge the youths not to allow themselves to be used by economic saboteurs.

“We shall remain determined in enforcing the Federal Government’s fiscal policies, extant regulations and guidelines on import/export; without fear or favour”, he declared.

NNPC To Focus More on Gas Condensates for Revenue Growth As It Commits To OPEC+ Agreement

Mallam Mele kyari
Mallam Mele kyari
The Nigerian National Petroleum Corporation (NNPC) has reiterated its commitment to abide by the output cut agreement of the Organization of the Petroleum Exporting Countries (OPEC) and its allies aimed at stabilizing the global oil market.

Group Managing Director of the Corporation Mallam Mele Kyari, stated this Wednesday while speaking at the ongoing virtual Gulf Intelligence “Global” UAE Energy Forum 2021.
Mallam Kyari noted that despite the negative effects of the production cut on government revenue, it was the best step towards redeeming the value of hydrocarbon resources at the global market in the interest of all.
Speaking on the topic, “Outlook for Africa/Nigeria’s Oil & Gas Sector in Post-Covid Era”, he said NNPC was hopeful that by the end of the year demand for crude oil would pick up and there would be a marginal increase in output, stressing that the Corporation was focusing more on gas, condensate and other revenue streams to tackle the revenue challenge arising from the OPEC+ production cut arrangement.
He explained that gas proved to be a steady and reliable revenue stream during the height of the Covid-19 pandemic in 2020, adding that gas production and utilization would remain a key priority for the Corporation in 2021.
Earlier in his presentation, the Minister of Energy & Agriculture, United Arab Emirates (UAE), H.E. Eng. Suhail Mohamed Al Mazrouei, appealed to all oil producing nations not to flood the market with crude oil.
He said the UAE was at the moment is more concerned about balancing the market forces of demand and supply in the global market than growing market share.