BUSINESS

ACCI, Stakeholders Seek Emergency Declaration on Export Sub-sector

Published

4 years ago

July 9, 2021

By Tony Obiechina, Abuja
The President, Abuja Chamber of Commerce and Industry (ACCI), Dr Al-Mujtaba Abubakar and stakeholders in the export business have called for declaration of a state of emergency to remove bottlenecks in the processing of non-oil exports in Nigeria. Non-oil exporters in Nigeria raised the alarm over serious constraints facing them in the export business, describing the situation as constituting threats to government’s efforts to increase non-oil revenue earnings.

Speaking variously at the unveiling of study report on the operation of dry ports in Nigeria organized by the Abuja chamber of commerce and industry, the stakeholders cited multi-billion naira loss being experienced by exporters due to delay at the port, multiplicity of agencies, poor infrastructure and bureaucratic challenges in the processing of approvals for export.

The study report had listed several challenges militating against deployment of dry ports in the logistic chain, calling for urgent intervention to address critical weaknesses in the export chain business within the context of the African continental free trade zone (AfCFTA).
Opening the Public Private Dialogue attended by Agencies of the transportation Ministry, commodity Associations, Exporters and other staff holders, the ACCI President, Dr. Abubakar said, all hand must be on deck to ease the burden of export if Nigeria is to expand her revenue earnings and meet the demands of new continental free trade regime.
Abubakar who linked the achievement of huge export trade volume to strong hither-land logistics like ports and rail said the dry ports report provides opportunities for all stakeholders to declare emergency in the export sub-sector because of the complicated nature of problems confronting exporters in Nigeria.
He added that economic development is best escalated when multi-modal transportation model is the backbone of the economy adding that this is true of developed economy and even truer of developing space as Nigeria.
“This reality underpins the interest of the Abuja Chamber of Commerce and Industry to partner development organizations for the study and deployment of best practices and policies in various sectors of the Nigerian economy.
“As part of the ongoing processes, the Public Private Dialogue is a step further to intimate the relevant agencies of government and actors in the port space of the outcome of the assessment. Our goal is to sensitize the authorities to the critical importance of dry port as an expander and booster of hinterland economy. The gathering of several parties creates opportunities for considerations of best practices as Nigeria build up her networks of dry ports.”
The ACCI commended the German Development Agency (GIZ), the European Union and others for the facilitation of the assessment study. The partners support in the transport and other sector has tremendously assisted Nigeria to institute best practices in various sectors of her economy. We hope to proceed to partner further for the development of a National Policy on Day Port in Nigeria.
This assessment report is an invaluable resource material for all stakeholders in the dry port sub-sector.
The Director General, ACCI Victoria Akai in her opening remarks said, the Nigerian logistic sector is undergoing extensive expansion across transport, and logistic modes while saying that as Nigeria is expanding her Railway Ports, roads, Air ports and other infrastructures, Dry Port has emerged as a major focus along the logistic change, “creating necessary policy framework is therefore, a necessity and ACCI with her partners, is spear heading this move.
“A study has been conducted and conclusions have been reached. This is a major step towards creating a policy framework for the operation of dry port in Nigeria”, she said.
The Executive Secretary, Nigeria Shippers Council Hon Emmanuel Jime at the event said they are not unaware of the operational challenges of the Kaduna Inland Dry Port, which could be attested through the various initiative aimed at solving these problems and right now, a sensitization workshop is going on in Kaduna to enlighten stakeholders.
The ES represented by the Deputy Director Abuja Liaison office, Mrs. Rakiya Nuhu said one of the major policy initiatives of the Nigerian Shippers’ Council is the development of Inland Dry Port while saying that maritime infrastructure is the backbone to development and growth of the maritime sector and its sub-sectors in the littoral Countries across the world.
“Continuous investment in maritime infrastructure when pursued vigorously can lead to appreciable economic growth and development”, he said.
He stated the benefits of Inland Dry Ports amongst others as; bringing shipping services to the doorstep of shippers across the nation, assist in decongesting the seaports and making them more friendly, Provide the impetus to revive and modernize the railway as a primary mode for long distance haulage and assist in the reduction of over-all costs of cargo to hinterland locations as well as transit cargoes to landlocked countries.
The Managing Director, Kaduna Inland Dry Port, Mr. Ismail Adekola Yusuf in his address said, Dry Ports are normally considered for development at a location with various transport links such as highways, railways and inland waterways.
“Dry ports function as an integrator of various modes of transportation by encouraging intermodal transport operations. Intermodal transport is an integrated process where all parts of the transport process, including organizational and technological arrangements must be well connected and coordinated to produce significant proven advantages compared to single mode transportation.”
Mr. Ismail who was represented by the Mr. Chuka Offor said Dry Ports provide a range of services such as container handling and storage, container stripping and stuffing, break bulk cargo handling, customs inspection and clearance, container light repairs, freight forwarding and cargo consolidation services, inventory management and materials handling.
According to him, Dry ports are to enhance the maritime business and trigger regional economic development. The prospect of Kaduna inland dry ports is to accelerate national and international business. It promotes more investment in the region and increases cross-border transactions.
This will attract a lot of manufacturing companies’ site their factory around the dry port for ease and efficient logistics services thereby generating employment opportunities for teaming youth.
“Besides enhancing cross border transactions, it been performed as container consolidation and deconsolidation interface into some states which has no ports. Services such as customs services, client’s facilities, brokers, forwarding agents and transportation advises are highly required by the stakeholders.
“The presence of dry ports will assist the seaports to improve their effectiveness and efficiency in operations. Additional space and adequate multimodal transportation systems in dry port provide high relief to seaports and ease the container movement to and from seaport. It requires efficient transport facilities that move goods smoothly, safely and rapidly from door to door. Multimodal is a quality indicator of the level of integration between different modes: more integration and interconnectivity between modes, which provides efficient use of the transport system”, he noted.
Also speaking at the dialogue, the representative of GIZ, Mr. Legborsi Nwiabu said their partnership has taken them to a point where they were able to identify the challenges of Dry Ports in Nigeria thereby proffering solution on how to tackle it.
He said, they deliberately chose Kaduna Dry Port for the study while working on nine agricultural value chains in the Nigeria Competitive Project (NICOP) that gave them the understanding of the challenges of transportation as a hindrance to farmers.
“It is on that effect we commissioned a study to see how we can create awareness. Validation has been done before now but the report will help further. We are concern about the business environment and see how we can regulate and we want to join voices with ACCI to charge a way forward.”

Oil & Gas

NNPC Ltd. Disclaims Fake Financial Scheme

Published

5 days ago

May 29, 2025

Editor_01

The Nigerian National Petroleum Company Limited (NNPC Ltd.) has disowned a fake AI-generated video circulating on social media featuring a cloned voice of the Group CEO, Mr Bayo Ojulari, promoting a fictitious poverty alleviation scheme.

The Chief Corporate Communications Officer, NNPC Ltd.

, Olufemi Soneye in a statement on Thursday clarified that the company had no such investment initiative.

Soneye urged the public to disregard the video, originally shared by an account named Mensageiro de Cristo on Facebook.

“NNPC Ltd. has warned the perpetrators to cease their fraudulent actions or face legal consequences,” he said. (NAN)

Economy

We’ll Continue Borrowing Within Sustainable Limits- FG

Published

6 days ago

May 28, 2025

Editor_01

The Federal Government says it will continue to borrow within manageable and sustainable limits in accordance with the Debt Management Office (DMO) debt sustainability framework.

This is contained in a statement by the Director, Information and Public Relations in the Ministry of Finance, Mr Mohammed Manga, in Abuja on Wednesday.

President Bola Tinubu recently requested the approval of the 2024 – 2026 external borrowing rolling plan from the National Assembly.

Tinubu has requested the National Assembly’s approval to secure external loans of 21.5 million dollars and 15 billion Yuan, along with a grant of 65 million Euro, as part of the federal government’s proposed 2025–2026 external borrowing plan.

Manga said that the proposed borrowing plan was an essential component of the Medium-Term Expenditure Framework (MTEF) in accordance with both the Fiscal Responsibility Act 2007 and the DMO Act 2003.

“The plan outlines the external borrowing framework for both the federal and sub-national governments over a three-year period, accompanied by five detailed appendices on the projects, terms and conditions, implementation period, etc.

“By adopting a structured, forward-looking approach, the plan facilitates comprehensive financial planning and avoids the inefficiencies of ad-hoc or reactive borrowing practices.

“This strategic method enhances the country’s ability to implement effective fiscal policies and mobilise development resources,” he said.

According to the statement, the borrowing plan does not equate to actual borrowing for the period.

“The actual borrowing for each year is contained in the annual budget. In 2025, the external borrowing component is 1.23 billion dollars, and it has not yet been drawn.

“This is planned for H2 2025, the plan is for both federal and several state governments across numerous geopolitical zones including Abia, Bauchi, Borno, Gombe, Kaduna, Lagos, Niger, Oyo, Sokoto, and Yobe States.

“Importantly, it should be noted that the borrowing rolling plan does not equate to an automatic increase in the nation’s debt burden.

“The nature of the rolling plan means that borrowings are split over the period of the projects, for example, a large proportion of projects in the 2024–2026 rolling plan have multi-year drawdowns of between five to seven years which are project-tied loans,” Manga said.

He said that these projects cut across critical sectors of the economy, including power grids and transmission lines, irrigation for improving food security, fibre optics network across the country, fighter jets for security, rail and road infrastructure.

According to him, the majority of the proposed borrowing will be sourced from the country’s development partners, like the World Bank, African Development Bank, French Development Agency, European Investment Bank, JICA, China EximBank, and the Islamic Development Bank.

Manga said that these institutions offer concessional financing with favourable terms and long repayment periods, thereby supporting Nigeria’s development objectives sustainably.

He said that the government seeks to reiterate that the debt service to revenue ratio has started decreasing from its peak of over 90 per cent in 2023.

Manga said that the government has ended the distortionary and inflationary ways and means.

According to him, there is significant revenue expectations from the Nigerian National Petroleum Corporation Limited (NNPC Ltd), technology-enabled monitoring and collection of surpluses from government owned enterprises and revenue-generating ministries, departments, and agencies and legacy outstanding dues.

“Having achieved a fair degree of macroeconomic stabilisation, the overarching goal of the federal government is to pivot the economy onto a path of rapid, sustained, and inclusive economic growth.

“Achieving this vision requires substantial investment in critical sectors such as transportation, energy, infrastructure, and agriculture.

“These investments will lay the groundwork for long-term economic diversification and encourage private sector participation.

“Our debt strategy is therefore guided not solely by the size of our obligations, but by the utility, sustainability, and economic returns of the borrowing,” he said.(NAN)