Business

Rail project: NPA intervenes in CCECC, port operators’ row over demolition

Published

4 years ago

December 3, 2020

Nigerian Ports Authority has intervened in the feud between APM Terminals and the China Civil Engineering Construction Corporation (CCECC) over the demolition of some sections of the Lagos Ports Complex (LPC).

The move, it was learnt, was to ensure that the dispute does not in any way impede on port operations.

The CCECC, a firm handling the Federal Government new rail project, had last week commenced demolition of some sections at the Apapa ports to create room for the construction of the rail lines into the ports complex.

But APM Terminal viewed this as impeding on its operations.

The demolition which took place last week saw some freight forwarders protesting against the action of the CCECC, arguing that their goods which had been cleared got trapped inside the ports as a result of the action.

Head, Corporate Communication at the NPA, Adams Jatto, confirmed that efforts were on going to ensure a peaceful settlement of the feud.

He said the management of NPA under the leadership of the Managing Director, Hadiza Bala Usman, swung into action to ensure that port operations did not suffer as a result of the ongoing standard gauge rail construction.

He said the matter was under control and that there was not cause for alarm.

“We are already talking with the rail project manager of the contractor and the terminal operators to see how we can mitigate the effects of the rail construction on port operations.

“Don’t forget that the rail project is a necessity that the nation has to implement to ensure that the ports are well connected to efficient rail services. However, we are discussing with them so that they can look at their programme and see how we can have an unhindered port operation while the rail project construction is ongoing” he said.

Operations at the Apapa container terminal, operated by APM Terminals were last week paralysed when the CCECC mobilised to site, blocking the truck exit gate and began demolition of structures inside the port terminal, thereby hampering Customs inspection, and affecting the release and exit of containers.

Importers and clearing agents complained that they been unable to conclude their transactions as at when due while loaded trucks had been unable to exit the port terminal.

The situation has reportedly compounded the Apapa gridlock as trucks piled up on the port access road.

President of the Nigerian Importers Integrity Association (NIIA), Godwin Onyekazi, said although the government should be commended for linking the seaports to the rail network, the project should be implemented in a way that would not hamper port operation.

He said, “What we observed at the Apapa port today shows poor coordination of the rail project. The Chinese contractors handling the rail project should have coordinated with the Nigerian Ports Authority and all the terminal operators at the port to ensure that while the construction is ongoing, port operations are not hampered.

“There is a huge backlog of containers in the port as we speak. To now block the port at this time and make it impossible for containers to exit the port is counterproductive.

“This is also the peak season for importation. More goods are coming into the country and this disruption will mean that these goods will be stranded at the port.

“Consequently, importers will be made to bear the brunt of this action because their goods will be trapped inside the port and they will not be able to take them to the market in good time. Also, they will end up paying more as demurrage and storage charges. This is not good at all.”

Business

NCC moves to boost internet speed with 6GHz spectrum

Published

5 hours ago

September 19, 2024

Trends Admin

NCC-Nigerian-Communications-Commission

NCC moves to boost internet speed with 6GHz spectrum

The Nigerian Communications Commission (NCC) on Thursday said it has begun moves to harness 6GHz spectrum for improved internet speed in Nigeria.

The Executive Vice Chairman of the Commission, Dr. Aminu Maida, disclosed this during a Stakeholders’ Consultative Forum on Emerging Technologies in Lagos.

The 6 GHz spectrum is a band of radio frequencies that offers several benefits for wireless communication, including faster data rates and transmission speeds than previous bands.

According to the EVC, deploying this higher spectrum became necessary as the current 5GHz and 2.4GHz bands are facing capacity constraints.

Growing demands for speed

Maida, who was represented by the Executive Commissioner of Technical Services at NCC, Abraham Oshadami, said the move would address the growing demand for high-speed internet.

He added that Nigeria would be joining the league of countries already utilizing part of the 6GHz band for Wi-Fi -6 applications.

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“The 6GHz band, spanning from 5925 MHz to 7125 MHz, offers a substantial increase in available spectrum, which is crucial for supporting the growing demand for high-speed internet and advanced applications.

“Wi-Fi plays a crucial role in the distribution of fixed broadband connectivity in homes, offices, and various other environments.

“The vast majority of home internet traffic is connected to the end-user through Wi-Fi.

“In enterprise settings, Wi-Fi is essential for handling large amounts of data and simultaneously connecting large numbers of devices with improved reliability, higher data throughput and lower latencies,” Maida said.

Overcrowded airwaves

Similarly, the Head, of Spectrum Administration at the NCC, Atiku Lawal, said that the overcrowded airwaves were currently limiting the potential of Wi-Fi in the 2.4GHz and 5GHz.

Lawal said that it was not a surprise that more than seventy countries had already acted, or were considering acting on opening the 6GHz band for unlicensed Wi-Fi use.

He noted that depending upon the country’s implementation plan, this decision would provide two to three times the spectrum available today.

This is also expected to result in the ability to implement 80MHz and 160 MHz channels being available for the new Wi-Fi 6 standard ideal to support digital transformation efforts and use cases like high definition video and X Reality (XR).

“The commission’s decision to open the 6GHz frequency band for unlicensed Wi-Fi use is poised to revolutionize broadband connectivity in Nigeria.

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“This move will significantly enhance internet services, providing faster and more reliable connections. With the advent of Wi-Fi 6, users can expect higher data rates and increased capacity, making it ideal for high-demand environments such as stadiums, airports and offices,” he said.

He added that by offloading devices from cellular networks to Wi-Fi 6, the NCC aims to improve overall quality of service, alleviating capacity constraints and boosting broadband penetration in Nigeria.

Operators’ request

While commending the NCC, the Chairman of the Association of Licensed Telecoms Operators of Nigeria (ALTON), Gbenga Adebayo, pleaded with the Federal Government to assist operators in upgrading to the new spectrum.

He said the appeal was coming because operators struggled to expand their networks.

Adebayo, who was represented by the Executive Secretary, ALTON, Gbolahan Awonuga, said the telecom operators are not isolated from the harsh financial ecosystem.

“We need money to upgrade our infrastructure and import equipment, so as for us to benefit from the 6GHz.

“Our members are struggling to expand their infrastructure. We appeal to the federal government to come to our aid.”

NCC moves to boost internet speed with 6GHz spectrum

Business

CBN reintroduces controversial cybercrime levy on all e-transactions

Published

16 hours ago

September 19, 2024

Trends Admin

CBN reintroduces controversial cybercrime levy on all e-transactions

Bank customers of several commercial banks are in a state of confusion currently following the recent release of the fiscal guidelines of the Central Bank of Nigeria (CBN) which revealed that it will continue to enforce a reduced 0.005% levy on all electronic transactions.

The bank in its Monetary, Credit, Foreign Trade, and Exchange Policy Guidelines for Fiscal Years 2024-2025 document, revealed that as part of its 2024-2025 fiscal year guidelines, reaffirmed its commitment to this charge, requiring banks and other financial institutions to deduct the levy from all electronic transactions.

Scrutinizing the document, Daily Sun observed that the percentage has been reduced from 0.5% earlier announced in May 2024 to 0.005% in the new guidelines.

The apex bank noted that the levy is mandated by the Cybercrime (Prohibition, Prevention, etc.) Act of 2015 and added that the revenue generated from the levy supports a cybersecurity fund aimed at bolstering Nigeria’s defense against cyber threats, particularly in the banking sector. “The CBN shall continue to enforce the payment of the mandatory levy of 0.005% on all electronic transactions by banks and other financial institutions, in accordance with the Cybercrime (Prohibition, Prevention, etc.) Act, 2015”, it said.

The CBN’s guidelines also include provisions to ensure banks, Other Financial Institutions (OFIs), and Payment Service Providers (PSPs) comply with minimum cybersecurity standards, such as appointing Chief Information Security Officers (CISOs). These requirements stem from a 2022 risk-based cybersecurity framework that targets the growing threat of cyber attacks.

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It will be recalled that the introduction of the levy had sparked controversy, with critics arguing that it adds unnecessary costs to businesses and could fuel inflation. The Centre for the Promotion of Public Enterprise (CPPE) and the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) had urged the government to cap the levy to mitigate its economic impact.

In response to these criticisms, the Federal government, through the Minister of Information, and the Federal House of Representatives called for a suspension of the levy pending further review.

Similarly, the CBN pulled the plug on the collection of levy, but the latest guidelines suggest that the CBN is determined to press forward with the levy despite the opposition.

An economic experts, who did not want his name printed, stated that the CBN could have released such guidelines as part of broader measures aimed at bolstering cybersecurity across financial institutions, especially given the rise in cyber attacks targeting the financial sector.

He however stated that it would be unusual for a central bank to impose such levies directly, as cybersecurity measures are generally handled through regulatory requirements or sector-specific compliance measures.

“I have looked at the guidelines too and I am a bit confused as to whether this has been reviewed thoroughly by the Federal Executive Council because the confusion could arise from how these guidelines were communicated or interpreted by different stakeholders like me.

Also, like I had said before, financial institutions, businesses, and perhaps even customers could be affected by this levy, depending on how it’s structured. Hence, further clarification from the CBN or the Federal Executive Council may be necessary to resolve the confusion surrounding the implementation of the levy”, he said.

CBN reintroduces controversial cybercrime levy on all e-transactions

Business

Suspend VAT, other policies impoverishing Nigerians – SMEs tell FG

Published

17 hours ago

September 19, 2024

Trends Admin

Suspend VAT, other policies impoverishing Nigerians – SMEs tell FG

The National Association of Small and Medium Scale Enterprises (NASME) and financial experts have called on the Federal Government (FG) to suspend any new policy that may further impoverish Nigerians.

The unanimous call was made by respondents in separate interviews with the News Agency of Nigeria (NAN) in Ibadan on Tuesday.

The interview focused on the need to stabilise the economy as an increase in Value Added Tax (VAT) is being anticipated from 7.5 per cent to 10 per cent.

The Oyo State chairman NASME, Prince John Karunwi, said VAT, being a consumer tax, would make prices of goods and services shoot up.

According to him, the increase will deplete consumers’ purchasing power and reduce the quantity of items they can buy.

Karunwi said that the present situation had left most Nigerians without disposable income.

“The situation now is that after transportation, maybe people have little for feeding.

“If they now discover that for some certain products, the prices will go high, the demand for products that are not essential will, definitely, drop,” said the chairman.

He said the government should be patient and allow the economy to stabilise despite its drive to increase its internally generated revenue.

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An economist, Samson Olalere, said the idea to increase VAT at this point would further deepen the hardship of the common man.

According to him, people are already grumbling about the unwarranted fuel price increase and the high cost of living, as the new minimum wage increase is grossly inadequate.

He said the government should look inward and come up with ideas that would benefit the populace and reduce the hunger of common Nigerians.

“I say no to the increase in VAT. It is an abuse of the sensitivity of Nigerians,” said the economist.

Olalere wondered why the common Nigerian would be asked to sacrifice, tighten his belt, and keep faith in the government without enough consideration for him from the same government.

A financial expert, Sola Famakinwa, corroborated the opinions of others that an increase in VAT would amount to an increase in the prices of goods and services.

“There is no way the manufacturing industries would bear the cost of increased VAT; it would be passed down to the consumers.

“If what we hear about the proposed VAT increment is true, I do not think Nigerians can bear to have more burden added to their shoulders now,” Famakinwa said.

He noted that the government needed to reduce the economic hardship by introducing subsidies for necessities that directly affect Nigerians, considering that not all are government workers.

Recall that VAT was increased from 5 per cent to 7.5 per cent on Feb. 1, 2020.

However, the Presidential Committee on Fiscal Policy and Tax Reforms recently recommended an increase to 10 per cent from 2025, and to 15 per cent by 2027 or 2030.