Economy
Eto: TTP Official Lists Challenges at Tin-Can Axis
Truck Transit Parks Ltd., owners of Eto, the electronic call-up system for trucks, on Thursday identified factors hindering smooth operation of the system.
Mr Temidayo Adeboye, Chief Operating Officer, TTP, told newsmen in Lagos that road construction and the entry points to the port were among the factors.
Adeboye said that heavy concentration of oil and gas tank farms that are not onboard Eto platform add to the high volume of traffic witnessed daily by motorists on the Mile 2- Tin-Can Island Port axis.
He said that the Trucks Transit Parks was perfecting plans to bring major and independent oil marketers onboard Eto App to further drive down the gridlock in Apapa.
The official said that the Nigerian Ports Authority had met with Federal and Lagos state governments to ask the contractors involved in the construction to make palliatives on the road to help reduce the problem in that axis.
He said that at the Apapa axis, there were up to five entry points while that of Tincan had three, namely Abuja, first gate and second gate.
Adeboye said the aim of the journey into the project was to maintain sanity and solve the problem caused by indiscriminate parking of trucks and tankers on the road.
“We went into looking for possible way to house all these trucks and make it easy for people to pass, and so the need to get parks.
“In trying to address the traffic, we found out that NPA had 50 per cent of the traffic; oil and gas, 30; fast moving consumer goods and others 20 per cent coupled with the extortion going on at the port corridor,” he said.
He noted that extortion happened because everybody was using their power and influence to try and get into the port, thereby breaking all rules by parking by the road side.
Adeboye refuted the claim of people saying that the Eto app had been hacked, assuring that the app had very good security features.
“The only thing that had happened was people taking the ticket in the past to business centres to go and photocopy, edit and use.
“But we have gone around these things, even the edited tickets can no longer work; it worked before because of human interface, so with the technology deployed, it has cleared everything,” he said
He appealed to all stakeholders to stop being in a hurry but be orderly and follow the process so that things would move smoothly.
“Today, trucks must enter the transit parks to be able to access the port and we are using timing belt to batch and schedule different categories of trucks.
“This is partly the reason why trucks that pay their way to the port do not have access because the access barriers will not open for them,” he said.
Mr Bolaji Akerele, Head of Corporate Development, alluded to the fact that efficiency of Eto App had reduced the cost at which trucks enter into the port down to between N15, 000 and N25, 000, from between N100, 000 and N150, 000.
He said resistance to change was one of reasons some truckers were finding it difficult to abide by the rules and procedure of moving into the port under Eto platform. (NAN)
Mr Adegboyega Oyetola, the Minister of Marine and Blue Economy says upgrading the Maritime Academy of Nigeria (MAN), Oron to a university, will unlock opportunities in the maritime economy.
Oyetola made the expression at the 2024 MAN cadets graduation ceremony in Oron, Akwa Ibom on Saturday.
Represented by Mr Babatunde Bombata, the Director, Maritime Safety and Security, the minister said the Federal Government was working assiduously to unlock opportunities within the marine and blue economy.
He said that the ministry was already collaborating with the Ministry of Education and the Nigerian Universities Commission to ensure MAN’s seamless transition to a university.
“It is our hope that this upgrade will unlock new opportunities for advanced learning, cutting edge research and innovation within the marine and blue economy fields,” he said.
Oyetola urged the graduating cadets to be innovative, resourceful and forward looking in their future endeavours.
“The maritime and blue economy sectors are filled with opportunities, so your contributions to the sector will be instrumental in ensuring a brighter future.
“The government is committed to fostering excellence and innovation in these fields, and we eagerly anticipate the positive impact you will make in your careers,” he said.
He further said that the Federal Government was working on developing a national policy on marine and blue economy.
“This policy will serve as a strategic framework to drive economic diversification, attract investments, create jobs and youth empowerment.
In his remarks, Gov. Umo Eno of Akwa Ibom, said the state government would continue to collaborate with the academy to develop the maritime sector.
Represented by the Commissioner for Internal Security and Waterways, Gen. Koko Essien, (Rtd), Eno urged the graduating cadets to utilise their training in developing the maritime sector.
“I am hopeful that you will utilise the training you have acquired here to further your career as seafarers and in the development of our blue economy,” he said.
Eno commended the Acting Rector, Dr Kevin Okonna and his management team for their commitment towards repositioning the academy for greater results.
Earlier, Okonna said that graduates of the institution had contributed immensely to the growth of Nigeria’s maritime and blue economy.
“Today, we have an opportunity to celebrate a new set of well-trained personnel to the maritime and allied industries.
“We pride ourselves as the pioneer maritime training institution, this is because of the institution’s contributions to national development,” he said.
The acting rector urged the graduating cadets to made effective use of the knowledge gained during their training to make meaningful impact on the growth of the maritime sector.
Report says that awards were given to graduating cadets who distinguished themselves in character and learning. (NAN)
The Nigerian Exchange Ltd. (NGX) continued its bullish trend on Wednesday, gaining N183 billion.
Accordingly, the market capitalisation, which opened at N59.532 trillion, gained N184 billion or 0.31 per cent to close at N59.715 trillion.
The All-Share Index also added 0.31 per cent or 303 points, to settle at 98,509.
68, against 98,206. 97 recorded on Tuesday.Consequently, the Year-To-Date (YTD) return increased to 31.
74 per cent.Gains in Aradel Holdings, Zenith Bank, United Bank For Africa(UBA), Oando Plc, Nigerian Breweries among other advanced equities drove the market performance up.
Market breadth closed positive with 34 gainers and 17 losers.
On the gainers’ chart, Africa Prudential, Conoil and RT Briscoe led by 10 per cent each to close at N14.30, N352 and N2.42 per share, respectively.
Golden Guinea Breweries followed by 9.95 per cent to close at N7.18, while NEM Insurance rose by 9.74 per cent to close at N10.70 per share.
On the other hand, Julius Berger led the losers’ chart by 10 per cent to close at N155.25, Secure Electronic Technology Plc trailed by 9.52 per cent to close at 57k per share.
Multiverse lost 7.63 per cent to close at N5.45, Haldane McCall dropped 6.07 per cent to close at N4.95 and Honeywell Flour shed 5.62 per cent to close at N4.70 per share.
Analysis of the market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 49.44 per cent.
A total of 320.10 million shares valued at N6.48 billion were exchanged in 7,943 deals, compared with 939.41 million shares valued at N12.81billion traded in 9,098 deals posted in the previous session.
Meanwhile, ETranzact led the activity chart in volume with 70.27 million shares, while Aradel led in value of deals worth N1.22 billion.(NAN)
The central parity rate of the Chinese currency renminbi, or the Yuan, weakened 22 pips to 7.1870 against the dollar on Monday.This is according to the China Foreign Exchange Trade System.In China’s spot foreign exchange market, the Yuan is allowed to rise or fall by two per cent from the central parity rate each trading day.
The central parity rate of the Yuan against the dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day. (Xinhua/NAN)
Benue unveils Zeva Premium Lager Beer
Share The Benue Government on Sunday unveiled a new beverage, Zeva Premium Lager Beer, produced by Benue Investment and Property...
NAFDAC, Manufacturers Collaborate to Strengthen Food Safety Culture in Nigeria
Share The National Agency for Food and Drug Administration and Control (NAFDAC) has partnered with the Association of Food, Beverages,...
CHAN: Nigeria, Ghana Clash Ends in Goalless Draw
ShareThe Nigeria, Ghana final qualifying fixture in the race to next year’s African Nations Championship ends a goalless draw in...
FG Lifts Ban on Mining to Boost Zamfara IGR – Minister
Share Alhaji Bello Matawalle, Minister of State for Defence, says President Bola Tinubu has lifted the ban on mining in...
Kaduna’ll be Secure During Yuletide-CP
Share The Police Command in Kaduna State said it has enhanced security measures ahead of the yuletide festivities in the state....
IG Visits Family of Man Who Died in Police Custody in Ilorin
ShareThe Inspector-General (IG) of Police, Kayode Egbetokun, on Sunday paid an unscheduled visit to Ilorin in view of the death...
2024 was Turbulent for us But God Strengthened us, Makinde Says
ShareGov. Seyi Makinde on Sunday in Ibadan said God’s intervention helped the government and people of Oyo State to go...
NPFL: Late Penalty Kick Helps Kwara United to Narrow Win
ShareA penalty kick awarded late in the game on Sunday helped hosts Kwara United Football Club of Ilorin to a...
Poverty, Behind Deadly Stampedes Across Nigeria, says Falana
ShareBy Mike Odiakose, Abuja Human rights lawyer, Femi Falana, SAN, on Sunday attributed the deadly stampede that claimedmore than 105...
Ibadan, Okija, Abuja, and the Deathly Fate of Mekunus
ShareBy Tunde Olusunle Our ambassadors in the national parliament on Wednesday, December 18, 2024, spontaneously broke into a chant, serenading...