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T H I S D AY • FRIDAY, AUGUST 26, 2016
BUSINESSWORLD NIBOR OVERNIGHT 1-MONTH
R A T E S
A S
NIBOR
17.4417% 16.7724%
3-MONTH 6-MONTH
17.6079% 19.8254%
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NITTY 1-MONTH 2-MONTH 3-MONTH
Group Business Editor Chika Amanze-Nwachuku
Email chika.amanzenwachukwu@thisdaylive.com 08033294157
A U G U S T 15.7532% 16.0348% 17.1017%
6-MONTH 9-MONTH 12-MONTH
1 9 , 18.1773% 18.9773 22.40%
2 0 1 6
EXCHANGE RATE N316.55//1US DOLLAR* *AS AT LAST FRIDAY
Quick Takes Facebook to Unveil 10-year Roadmap
Facebookwillbehostingdevelopers’workshopforNigerianengineers, product managers and partners in Lagos at the end of the month, designed to help them build better applications and monetise them more effectively. The session which holds August 31, will feature sessions for practical advice and detailed information about how developers can take advantage of the latest features on Facebook, Bots on Messenger and Open Source development tools. Speakers at the event will include: Director of Global Product Partnerships at Facebook, Ime Archibong; Developer Advocate on the Open Source team at Facebook, Christine Abernathy; Strategic Products Partnerships Manager at Facebook, Chukwuemeka Afigbo, and Partner Engineer on the Facebook Messenger team, Jon Heaton. Archibong will share the company’s ten-year roadmap and the important role of Africa in achieving the mission. According to Archibong, “Nigeria is known across the world for having a booming, creative tech scene. It’s always good to get back and interact with the people who are at the forefront of this ecosystem.”
NSC Calls for Devt of TTP
DEAL ON CAPACITY BUILDING
L-R: Public Relations Manager, Huawei Technologies Nigeria Ltd, Panhaiyang Joey; Abuja Managing Director, Huawei Technologies Nigeria Ltd, Tank Liteng and Secretary to the Government of the Federation (SGF), Babachir David Lawal, during MoU signing between the federal government and Huawei on capacity building in Abuja...recently
NEPC Accuses Customs of Frustrating FG’s Export Drive Eromosele Abiodun Barely a month after the Minister of Transportation, Rotimi Amaechi, accused the Nigerian Customs Service (NCS) of frustrating the National Single Window (NSW), the Nigerian Export Promotion Council (NEPC) has alleged that the NCS of frustrating the federal government effort to boost the nation’s export drive. Speaking at a stakeholders meeting held at the Apapa Command of the NCS, Assistant Director of Compliance, Monitoring and Enforcement, Mrs. Ifeora Celibe said Apapa customs agent are importing goods and frustrating exporters who have little or nothing to offer. According to her, “the customs do everything to
MARITIME frustrate exporters. They are only interested in imports. The federal government is making effort to diversify the economy. The government is doing everything to encourage export to conserve foreign reserve. But the NCS is only interested in imported goods for obvious reasons.” She therefore appealed to the federal government to reinstate the Export Expansion Grant (EEG) that was suspended by the previous administration. The Council’s Director also promised to assist the Customs to ensure that export trade gets priority treatment. Responding to the allegation, the Customs Area Comptroller of Apapa, Area one Command,
Mr. Willy Egbudin said that the Customs has always done its best to facilitate export trade. Egbudin said that because of the command’s attachment to export trade, a Deputy Comptroller was put in charge of the export seat in Apapa. “We are doing our best to encourage export. But we have to do our job effectively. Some of these exporters do a lot of things that smears this country’s name. Recently, we a container and we found hard drugs under the products they were exporting to South Africa. This is one of the many challenges that we face,” he said. Amaechi, had during the inauguration of the Command, Control, Communications and Intelligence System, a marine operation and surveillance
centre, at the Nigerian Ports Authority (NPA) in Lagos, accused the NCS of frustrating the National Single Window. The NSW is a platform meant to integrate all agencies involved in the clearance of cargoes at the ports with view to ease the inspection calculation and payment of all import duties, levies and other charges on line. Speaking to representatives of the Controller General of the NCS, he said: “Please the Comptroller General of Customs has to agree and the Customs, need to be connected to the NSW to make our ports more effective. All we are doing now is manual; it will not last for long. “Very soon Nigerians will Continued on page 22
Stakeholders Allege Diversion of $100m BASA Fund Chinedu Eze There are fears that the Bilateral Air Service Agreement (BASA) fund, which accruals had risen to over $100 million (N38.1 billion) may have been diverted to fund projects outside the aviation sector, aviation industry sources have said. THISDAY investigations revealed that the funds, which are paid by foreign airlines operating into Nigeria, stem from the commercial agreement between Nigeria and host countries of the international carriers may have been depleted without definite projects executed with the funds. The fund is domiciled with the Central Bank of Nigeria (CBN) but managed
AVIATION by the Nigeria Civil Aviation Authority (NCAA), with the Director General as signatory. In 2014, the then Ministry of Aviation hinted that Nigeria may abolish commercial agreement, an offshoot of BASA, which defines the amount of money an airline should pay for each passenger, but indications show that this was not carried through. So while there was a belief that Nigeria was transiting to slot allocation, which is an alternative to commercial agreement, the fund has continued to accrue. An NCAA source hinted that since the funds were utilised
for airport remodeling, which was not completed as planned, the fund has continued to accumulate and may have been diverted to fund projects outside the industry. Industry observers noted government is in dire need of money to fund landing aids, runway lighting, perimeter fencing of most airports and improve facilities and equipment at the Nigeria College of Aviation Technology (NCAT) Zaria, but the BASA fund, which ought to be used to carry out these projects has been left in CBN. They also suggested that the money should also be used to complete some of the perishable terminals now government is
emphasising on export of agroallied produce and as it planned to concession four international airports in the country. THISDAY also learnt that the Minister of State for Aviation, Senator Hadi Sirika travelled to Singapore few days ago with top official of the industry to negotiate BASA for effective resumption of flight by Singapore Airlines to Nigeria. It is the view of industry stakeholders that BASA fund be accounted for and what it is used for clearly stated projects to ensure that the money is not being diverted for personal use by individuals who have access to the funds. Continued on page 22
The Nigerian Shippers’ Council (NSC) has called on state governments in the South East to support the development of Truck Transit Park (TTP) for the growth of the nation’s maritime industry. Chief Executive Officer of the Council, Mr. Hassan Bello made the call during a presentation at the annual lecture series of the Onitsha Chamber of Commerce Industry, Mines and Agriculture (ONICCIMA) titled ‘The Perspective’ held recently in Onitsha Anambra state. In the presentation with theme: ‘Sustenance of Nigeria’s Economic growth through port reforms: The Case of Onitsha Ports’, Bello said thatTTP was necessary for the development of the nation’s maritime industry, adding that it will help in the creation of employment opportunities and related socio-economic services. Bello who was represented by the Director Inland Trade Services, Mr. Akintunde Makinde added that it will improve Internally Generated Revenue (IGR) for state governments and transit trade with land locked neighbouring countries. Describing TTP as a modern state-of-the art facility situated off the busy highways, he said it was designed to provide temporary rest where truck drivers will conveniently park their vehicles in a healthy environment
Enugu Receives First Cargo Plane
Enugu State on Tuesday received its first cargo plane, an Ethiopian Airline Boeing 757 cargo at the Akanu Ibiam International Airport. The cargo plane attracted a large crowd, including the State Chief Executive,GovernorIfeanyiUgwuanyi,whodescribedthedevelopment as a historic event.He said the cargo airport will increase business activities in the state, adding that the state was ready for big business. Accordingtohim,thecargoairportwillboosttheeconomyofthestate and the whole of the South East. He said, “Today we have gathered again to celebrate the first landing of cargo at this same airport, and which once more has happened courtesy of the Ethiopian Airlines. “It will save costs, enhance convenience and safety in importation of goods.”The Governor who commended the federal government and the operators of the Ethiopian Airline for the arrangement added that it will save costs and make importation easier for those in the South East. He also said that it will promote employment in the area, and called on investors and business to take advantage of the opportunity.
PIL Strengthens Ties with CMPort
Singapore-incorporated shipping company and Pacific International Lines (PIL) has inked two Memoranda of Understanding (MOU) with the port operator China Merchant Port Holdings (CMPort) and the engineering and trade company China Machinery Engineering Corporation (CMEC), as part of the One Belt One Road initiative. The strategic alliance between the three companies is expected to boost business development and overseas projects in shipping, ports and logistics fields, according to PIL. “The MOUs between PIL and CMPort will see both organisations prioritising each other as strategic partners to coordinate resource allocation and developing new markets through joint ventures partnership.
Because of the economic hard times, airlines have become a soft target seen as a cash cow for everyone else to prey on
Chairman, Airline Operators of Nigeria)
Captain Nogie Meggison