Business
Govt agencies sabotaging 24-hour port operation – NPA
Some Federal Government agencies operating at the seaports are violating the executive order signed by Vice-President Yemi Osinbajo towards 24-hour port operations and synergy among such agencies, Managing Director of the Nigerian Ports Authority, (NPA), Ms Hadiza Bala-Usman, has said.
Osinbajo while serving as acting president in 2017 had signed the executive order on the promotion of transparency and efficiency in the business environment and directed the resumption of 24-hour operations at the Apapa port.
He also banned touting at all air, land and sea ports.
But Bala-Usman, while featuring on a television programme, said only the NPA had obeyed the order, while other agencies refused to do so, even as she noted the agencies flouting the order had not been sanctioned.
She said, “If you recall there is an executive order that was signed by the vice-president, which directed all agencies of government to conduct inspection (of containers) in one location and that executive order was signed in 2017.
“Certain agencies of government have not complied and one of the things we have said is sanction for non-compliance with an executive order that was released cannot be done by the Nigerian Ports Authority.”
She stated that if an agency of government violated an executive order signed by the vice president, the presidency should sanction that agency for non-compliance.
She said the essence of all agencies doing inspection on one location was for consignees not to have multiple areas of inspection.
The NPA boss said she had reported the matter to the Presidential Council on Ease of Doing Business chaired by Osinbajo but nothing was done about the flouting of the order.
She noted that port operations would not run smoothly if only the NPA was complying with set regulations.
Bala-Usman said, “There is an executive order to that extent. Some agencies have not complied. There have been several explanations and justifications for the non-compliance by these agencies. The NPA has raised it to the Presidential Council on Ease of Doing Business chaired by the VP to ensure sanctioning for non-compliance and as I keep saying if a directive is given and agencies don’t comply, if there are no consequences for action and inaction, that means I have not performed.”
She asked the FG to hold agencies not complying with the directive accountable for their actions.
“For example, we have 24-hour port operation that has been directed. All agencies of government are required to deploy personnel to have 24-hour port operation.
“We deployed our personnel but the other legs were absent. And of course, we cannot sanction other agencies of government,” she stated.
Bala-Usman stressed that the Apapa gridlock would end with the introduction of the electronic call-up system for port operations.
According to her, the new policy, set to take effect from February 27, will move Apapa ports operations to a digital format.
“The electronic call-up is key as you are aware that anything electronic seeks to remove human intervention,” she said.
She said the creation of truck parks was vital to the new electronic call-up system.
“We have eight truck parks that have been approved by Nigerian Ports Authority and the Lagos State government,” she said.
She added that the electronic call-up system would address extortion in the truck parks.
She said, “It takes away the idea that an officer, be it LASTMA, police or ports security, will give authority to go into the port, which may give room for extortion.
“All trucks that intend to assess the ports both for drop-offs and pick-ups have to do it from the approved truck parks.
“Cargo must also be ready for collection before trucks begin their journey; that proposed sanity should help in tackling the Apapa gridlock.”
Business
After Multichoice lost 243k subscribers, More customers threaten to leave
After Multichoice lost 243k subscribers, More customers threaten to leave
Multichoice Group, an African pay-TV operator, on Tuesday, announced that its Nigerian subsidiary lost 243,000 subscribers on its Digital Satellite Television (DStv) and General Entertainment on Television (GOtv) services between April and September 2024.
The company revealed these figures in its Interim Financial Results for the period ending 30 September 2024.
MultiChoice attributed this decline to Nigeria’s high inflation rate, which exceeds 30%, driven by the rising costs of food, electricity, and fuel, causing many customers to disconnect.
In its financial report for March 2024, MultiChoice had earlier reported an 18% subscriber loss in Nigeria.
The company further reported a 566,000-subscriber loss in the Rest of Africa (RoA) operations over the past six months, with Zambia and Nigeria contributing the largest shares to this decline.
“The group’s linear subscriber base declined by 11% or 1.8m subscribers YoY to 14.9m active subscribers at 30 September 2024.
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“The loss in the Rest of Africa has been primarily due to the significant consumer pressure in Nigeria, where inflation has remained above 30% for the majority of the last 12 months and, more recently, due to extreme power disruptions in Zambia.
“Of this decline, 298k related to Zambia and 243k related to Nigeria, with remaining markets on the continent reflecting only a minor decline of 25k,” It said.
Meanwhile more customers in Nigeria have threatened to switch allegiance.
While reacting to the story on a WhatsApp platform, a subscriber said: “They will lose more because I’ll soon leave them too.”
On X, @AGUNviews wrote: “They will lose more subscribers”
@Jaheim007: “The numbers are about to triple.”
@skyedron commented: “All anyone needs to acquire is the internet and a few clicks. Multi choice my foot.”
@ribaduabubakar2: “I subscribed to another platform and simply ignored them. They kept increasing the price as if someone would die without them. I am willing to give out my decoder and dish for free.”
@AbelFidelis4: “This is just the beginning. I stopped using DStv in 2022.”
@NdubuisiNC: “The downfall of this company in Nigeria will be televised and will be sweet to me. A company this big can’t improvise on their content?. Nigerians have cried for years about how boring it is, only football channels are what’s keeping most of us.”
@Ekoh4Ekoh: “They should be ready to lose more customers and it is good for them. They have to reduce their monthly subscription and make it pay as you go.”
@cashoggy: “They will still lose more subscribers. Internet and smart TV has rendered Dstv unattractive with their rate. Imagine paying 25,700 for a premium subscription when you can surf the Internet and watch all the programs for less.”
@rilwan_ola01: “They will suffer even greater losses.”
After Multichoice lost 243k subscribers, More customers threaten to leave
Business
XGT Smart Consults unveils renewable energy, others power solutions
XGT Smart Consults unveils renewable energy, others power solutions
XGT Smart Consults, a power solution firm, says it is ready to deliver renewable energy and other long-lasting energy solutions that will address the power challenges causing huge economic losses and discomfort.
The firm also says it has signed an agreement with an India-based company, ADM-Orient Solar Power, to achieve its goals.
This is contained in a statement by the XGT, revealing a holistic approach to energy provision.
It stated, “XGT Smart Consults is thrilled to announce a strategic partnership with ADM-Orient Solar Power (India) aimed at addressing one of Nigeria’s most critical issues – reliable power solutions.”
It stated that its target is to provide Nigeria with solutions to overcome the frequent power outages by empowering homes and businesses with reliable, renewable, and affordable power.
This, it said, would be achieved in conjunction with its partners through renewable energy systems, advanced electrical services, independent power production (IPP) solutions, portable natural gas generators, automation services, and the rental and leasing of CNG tube skids.
Managing Director of XGT Smart Consults Limited, Olu Harrison, said, “The objective is to provide reliable cost-effective and environmentally friendly energy to households and businesses throughout Nigeria.
“Understanding the intricacies of the energy crisis, XGT employs a holistic approach that integrates renewable energy solutions, independent power generation, and innovative technologies tailored to the specific requirements of Nigerian consumers.
“Our goal is to empower every Nigerian household and business by revolutionizing the production, distribution, and consumption of energy.”
According the statement, XGT specifically specializes in providing innovative renewable energy solutions designed to meet the unique climate and energy needs of Nigeria.
“Our wide ranges of solar and sustainable energy systems are suitable for individual homes, corporate settings, and community projects.
“By harnessing the power of renewable energy, XGT offers environmentally friendly alternatives that reduce reliance on the national grid and significantly cut energy costs,” it added.
The company’s Executive Director Toluwase Oni, gave more insights into the IPP for businesses, industries and communities/estates.
“XGT’s IPP solutions provide a solution to the urgent need for self-sufficient power generation, particularly in industrial and commercial sectors where power reliability significantly affects productivity and revenue.
“By establishing a network of captive/ localized, independent power systems, XGT Power-IPP empowers Industries, businesses and communities/estate to take control of their energy needs,” he stated.
Apart from the renewable energy sources, the firm said it offers a range of portable natural gas generators providing a flexible energy solution for areas with limited grid connectivity or for users in need of extra backup during power outages.
“These generators are designed with user-friendly features and portability in mind, enabling users to power essential operations without depending on traditional, often unreliable, grid infrastructure,” it added.
“In conjunction with these generators, XGT specializes in automation systems that optimize energy management to improve efficiency, reduce waste, and streamline operations.
“Automated controls enable businesses to remotely monitor and adjust energy usage, ensuring that energy is utilized intelligently and cost-effectively.”
As part of its services, it disclosed that the company offers rental and lease services for compressed natural gas (CNG) tube skids to interested industries in recognition of the increasing demand for CNG as a cleaner alternative to traditional fuels.
Business
Naira: Confidence in Nigeria’s economy drops, says CBN report
Naira: Confidence in Nigeria’s economy drops, says CBN report
Following continued depreciation in the value of naira, many businesses and their operators have lost confidence in the Nigeria’s economy.
Indeed, a survey by the Central Bank of Nigeria (CBN) showed the Overall Confidence Index falling by 3.2 index points to 14.5 from 17.7 index points.
This was the highlight of the Business Expectation Survey, BES of the Central Bank of Nigeria, CBN, for October which also showed decline in the Overall Confidence Index, OCI, for the current month, next month and the next six months.
According to the CBN the OCI for the current month, next month and the next six months fell to 1.4, 4.8, and 21.8 index points in the October BES from 3.2, 6.2 and 29 index points in the September BES.
The survey also indicates that the decline in confidence in the economy is being driven by firms’ expectation of further depreciation of the naira before the end of the year.
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The CBN said: “The overall confidence index (CI) on the macroeconomy indicates that businesses were optimistic in October 2024.
“Respondent firms expect the naira to depreciate in the current month, next month and next 3 months. However, they expect appreciation in the next 6 months.
“Top six business constraints high interest rate, insecurity, high/multiple taxes, inadequate power supply, unfavorable economic climate, financial problems.
“The optimism on business outlook in the current month is driven by the opinion of respondents from all the Sectors except the Industry Sector.
“Most Sectors expressed optimism on their own operation in the review month. The outlook of respondents on the Volume of Business Activities, the Volume of Total Order, Financial Conditions, and Access to Credit were all positive in the review month.
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