BUSINESS
Customs Generates over N220bn, Targets N360bn in Onne Port 2023
From Dooyum Naadzenga, Lagos
The Nigerian Customs Service, Onne Area Command, has generated over N220 billion in 2022, targets over N360 billion in 2023.
The command’s controller, Auwal Muhammad, stated this during an engagement with the Business and Maritime Writers Association of Nigeria (BUMWAN) on Wednesday in Onne, Rivers.
Muhammad noted that the command has successfully established a huge revenue record which it would continue to improve on.
“Next year may be more challenging because if you set a high record for yourself, it’s expected that you maintain that standard and also to improve on your records.
“So with our achievements so far this year, we know that next year is not going to be easy but we are proactive and ready to do better.
“We will further restrategize, look back at our experiences in 2022, what lead to our success or setbacks and then fine-tune our system of operations.
”So, within any of the month next year, we will be aspiring for as much as over N30 billion revenue,” he said.
Muhammad also reaffirmed a zero tolerance for corruption and smuggling while also charging officers to more effective in line with the aims of the management and the extant laws.
Attributing the command’s success to a robust synergy with stakeholders, he noted that the symbiotic relationship has proven beneficial and also added value to revenue generation.
“We engage quarterly with the licensed agents, importers and our terminal operators, we brainstorm and also make them understand the rudiments of seamless ports operations and proper declaration of consignments and this regular interface has helped us a lot,” he added.
Earlier, Vice President of BUMWAN, Mr Tony Nzekwe, applauded the Comptroller for initiating an all-inclusive policy which has encouraged on -the -job training and ITC compliance for officers.
Nzekwe also noted that that regular interface with stakeholders has provided timely enlightenment on the ease of doing business at the Onne port.
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)
Arewa Youths Initiative for Energy Reforms (AYIFER), has urged Nigeria National Petroleum Corporation Limited (NNPCL) to do everything possible to bring Kaduna Refinery back into operation.
National Coordinator of the group, Mr Bashir Al’Amin, stated this in a statement issued on Friday in Abuja.
Al’Amin specifically called on the Chief Executive Officer of NNPCL, Mallam Mele Kyari, to do all within his powers to rejuvenate the refinery and bring it up to global standard.
He said that having delivered the Port Harcourt refinery, coupled with the establishment of Dangote Refinery in Lagos, attention should be shifted to Kaduna refinery for easy spread of petroleum products.
“We are calling on Malam Mele Kyari to expedite action on Kaduna refinery so we can be at par with other regions in the country.
“We equally beg the NNPCL to do professional work in rehabilitating the old refinery and deliver a standard and functional petrochemical refinery and not a blending plant.
“Kyari should resist any temptation that could make him do something that can jeopardise his good image,” he said.
Al’Amin said that since the extinction of groundnut pyramid and textiles in Kano State as well as PAN in Kaduna State and with the Kaduna refinery getting moribund, a lot of youths had lost their jobs.
According to him, all their hopes in the north are tied to the legacy refinery, expressing the hope that God would use Kyari to deliver it well and on time.
He said that the group was solidly behind NNPCL in prayer and would be ready to celebrate the company if its expectations were met. (NAN)
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