Landlocked countries of Chad, Mali and Niger Republic have indicated interest in routing their cargoes through Nigeria, as the Lekki Deep Seaport gets set for operations Friday, September 16, 2022.
The Managing Director, Nigerian Ports Authority (NPA), Mohammed Bello-Koko, who disclosed this while addressing journalists, said the commencement of port operations would make Nigeria wrest lost transit cargoes from neighboring countries.
“By the 15th of this month, Lekki deep seaport will have completed installation of its equipment, so we can say the port is ready by 15th of September, however, this is the first time in a long time that a new port will be set up in Nigeria.
“A port with different system, different IT deployment that we don’t have currently in Nigeria will be at Lekki. No port currently in Nigeria has a Ship To Shore Crane. The IT system they have has minimal human interaction that you will do your clearance, other clearance processes from your office and finishes everything, containers will be identified using digital information system.
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“From 16th of September, they will start dry runs and testing. They are recruiting and probably have finished recruiting Nigerians that will work there and they need to train them on how to use the cranes and how to use the digital system, clearing system and all that and that take a lot of time, so from our interactions with them, as far as we are concerned, Lekki deep seaport is ready we are there when two vessels brought in the cranes and other equipment.
The marine services will be provided by the NPA, pilot cutters and mooring boats and so on. The Nigeria Customs will be there. The President, few weeks ago, approved and designated Lekki deep seaport as a port of destination. It has full compliment of a port and vessels can come from outside the country, berth and as well do rummaging and go,” he said.
Koko also said the Authority with the Nigerian Shippers’ Council (NSC), are working on affordable tariffs for land locked transit cargoes that will be imported into Nigeria when the Lekki Deep Seaport becomes operational.
According to him, landlocked countries such as Mali, Chad, Niger Republic have indicated interest in moving their cargoes through the new ports.
“Niger Republic as a country formerly imported their cargoes through Nigeria Ports. Mali is also interested and there are entities of neighbouring countries that are interested in bringing in their cargoes, but ours is to reach out as far as possible.
“We are encouraging the port management in Warri and Calabar in particular to actually go to Cameroon and there was a business that came to the port because of the engagement our port managers had with importers in Cameroon so we will keep pushing these multilateral and cross border agreement and where we need the assistance of the Federal Ministry of Foreign Affairs and Transportation, we will let them know.
Finally, NERC unbundles TCN, creates new system operator
The Nigerian Electricity Regulatory Commission (NERC) has set up the Nigerian Independent System Operator of Nigeria Limited (NISO) as it unbundles the Transmission Company of Nigeria (TCN).
The transmission leg of the power sector has over the years been seen as weakest link with obsolete equipment.
The unbundling announcement is contained in an Order dated April 30, 2023 and jointly signed by NERC chairman, Sanusi Garba, and vice chairman, Musiliu Oseni.
By this order, the TCN is expected to transfer all market and system operation functions to the new company.
The commission had previously issued transmission service provider (TSP) and system operations (SO) licences to the TCN, in accordance with the Electric Power Sector Reform Act.
The Electricity Act 2023, which came into effect on June 9, provided clearer guidelines for the incorporation and licensing of the independent system operator (ISO), as well as the transfer of assets and liabilities of TCN’s portion of the ISO.
In the circular, the commission ordered the Bureau of Public Enterprises (BPE) to incorporate, unfailingly on May 31, a private company limited by shares under the Companies and Allied Matters Act (CAMA), 2020.
NERC said the company is expected “to carry out the market and system operation functions stipulated in the Electricity Act and the terms and conditions of the system operation licence issued to the TCN.
“The name of the company shall, subject to availability at Corporate Affairs Commission, be the Nigerian Independent System Operator of Nigeria Limited (“NISO”),” NERC said.
Citing the object clause of the NISO’s memorandum of association (MOU) as provided in the Electricity Act, NERC said the company would “hold and manage all assets and liabilities pertaining to market and system operation on behalf of market participants and consumer groups or such stakeholders as the Commission may specify.”
Naira depreciates again, trades at N1,402/$
The Nigerian currency, naira, on Thursday slightly depreciated at the official market, trading at N1,402.67 to the dollar.
Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), showed that the naira lost N11.71
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This represents a 0.84 per cent loss when compared to the previous trading date on Tuesday April 30, when it exchanged at 1,390.96 to a dollar.
However, the total daily turnover increased to 232.84 million dollars on Thursday, up from 225.36 million dollars recorded on Tuesday.
Meanwhile, at the Investor’s and Exporter’s (I&E) window, the naira traded between 1,445.00 and N1,299.42 against the dollar.
Appeal court takes over NURTW case as NIC withdraws
The National Industrial Court has withdrawn from a case involving Alhaji Najeem Usman Yasin, Board of Trustees chairman of the National Union of Road Transport Workers (NURTW), and Alhaji Tajudeen Ibikunle Baruwa’s ambition to return as president of the union over lack of jurisdiction.
The industrial court’s decision was made to avoid conflict with the Court of Appeal, where the matter is already being heard.
Before the NIC announced its decision to hands-off the case, the defendants’ counsel, Mr. O.I. Olorundare SAN, had informed the court that the matter is currently before the Court of Appeal, Abuja division, and that the industrial court could not continue to adjudicate on the same matter.
The counsel cited authorities to support his claim, adding that the National Industrial Court does not have concurrent jurisdiction with the Court of Appeal.
The presiding judge, O.O. Oyewunmi, struck out the case, stating that the Appeal Court had taken over the matter and that the Industrial Court must respect the hierarchy of courts.
Alhaji Yasin and six others took the case to the Appeal Court, challenging the decision of the industrial court recognising a delegates’ conference held on May 24, 2023, where Baruwa was proclaimed as President of the union for a second term in office.
With the latest NIC judgement, both parties will now proceed to defend their positions at the Court of Appeal and await the final judgement.
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