• National Carrier: FG Signs MoU with Singaporean Coy, PIL

A total of 463.1 million financial transactions worth N33.87trn were settled by the banking sector between January and July this year, figures released by the National Bureau of Statistics have revealed.

The NBS stated this in a report on the electronic payment channels in the banking sector for the first seven months of this year, which was released on Sunday.

In the report, the NBS stated that the Nigeria Interbank Settlement Instant Payment System, with a total amount of N19.33tn, accounted for the highest settlement made by banks.

This was followed by the Nigeria Electronic Fund Transfer with N7.67tn, while payment through cheques and Automated Teller Machines followed with N3.3tn and N2.59tn, respectively.

Others are payments through Point of Sales Terminal, N367m; Internet/web payments, N67m; mobile payments, N381m; and electronic bills payments, N171m.

A month by month breakdown of the payments showed that the sums of N339.2bn and N350.1bn were paid through ATMs in January and February, while N380.6bn,N381.6bn, N382.3bn,N370.5bn and N394.3bn were paid in March, April, May, June and July, respectively.

For cheque transactions, the report said the N3.3trrn were paid as follows: January, N465.5bn; February, N501.1bn; March, N487.5bn; April, N472.4bn; May, N480.4bn; June,N488.6bn; and July, N436bn

The Bankers Committee had on Tuesday, after its 328th meeting, said that the banking sector would from October this year begin a sensitisation awareness campaign to inform bank customers of the benefits of electronic banking, as well as other banking services.

The committee made up of Chief Executive Officers of all the Deposit Money Banks in Nigeria said it had decided to use the opportunity of the World Savings Day to sensitise Nigerians to the benefits of savings.

In the meantime, Nigeria has signed a Memorandum of Understanding (MoU) with an Asian shipping company based in Singapore, Pacific International Lines (PIL), for the planned establishment of a national carrier.

Part of the condition for the MoU is for the government to guarantee cargo for the national carrier.
Other conditions for the MoU include a 60 equity share for Nigeria and 40 percent for the Asian shipping giant.

It was gathered that both Nigeria and the Asian shipping line will share top positions in the National Carrier with the latter producing the Chief Operating Officer and the former with the Deputy.
It would be recalled that the Transportation Minister, Hon Rotimi Amaechi had led members of the National Carrier Committee to Sigapore last week.

Among the delegation include the Executive Secretary of the Nigerian Shippers’ Council, Barr. Hasan Bello who is the Chairman of the National Carrier Implementation Committee, Director-General of the Nigerian Maritime Administration and Safety Agency, NIMASA, Dr. Dakuku Peterside, Engr. Greg Ogbeifun and Barr. Mrs Margaret Orakwusi.

Ogbeifun had recently in an interview with One Page Africa, an online publication, disclosed that a delegation of the sub-committee on National Carrier would be in Singapore with the Transportation Minister, Hon. Rotimi Chibuike Amaechi, simply to sign the MoU on how to work together, and not to establish a shipping line.

He disclosed that Pacific International Limited (PIL) had come to Nigeria to express the willingness to have a Joint Venture ( JV) partnership with Nigeria to make the initiative of re-establishing a Nigerian flag happen, which the minister decided to key into.

“Nobody is talking about establishing a Nigerian Shipping Line. The minister simply says he wants to use his position to support the emergence of a Nigerian fleet that is completely privately-owned and privately-driven, but government-supported.

“So, the role of government is to support, facilitate, and make it easier for the private sector to make this happen,” Ogbeifun said.

He said that after the MoU has been signed, a team would be set up to develop the details for the operations, adding that a key essence of the meeting was to map out modalities for the operations.

“It is the modality of how to make that happen that we are discussing. The committee; we are able to establish that there is need to set up a crude oil freightment company, general cargo, bulk-carrying company, petroleum products company.
“And then, for the oil and gas service companies that have to do with the cabotage, to look at how to assist that group.”

He said that beyond establishing the fleet, the committee also is looking at the support services, policies, cargo , manning, ship repairs, as well as matters on financing.

Ogbeifun said sub-committees were formed for effective strategies, integrated to make the proposed venture sustainable, even as they are pushing to get the national fleet establishment running.
He noted that much as the cargo was the key issue in managing and sustaining a fleet, the committee recognises that government does not have control on the cargo that has been purchased by a foreign buyer, as to how that cargo should be shipped.

He said it would rather develop marketing strategies of offering incentives to attract the cargo owners into using the Nigerian fleet.

“These are things the committees will have to come up with; that if you use our vessel, it will be cheaper. This is how we are providing succor for the risks you take if a Nigerian ship is going to bring your cargo, so this is the comfort they will have,” Ogbeifun said.

He said that besides the commercial consideration of the venture, an important benefit for the industry growth would be the re-establishment of a big platform to begin to absorb the teaming youths who require sea-time opportunities.

He also mentioned plans to take advantage of cargoes being handled for the ministry of transportation, to be able to establish a JV with the countries’ shipping lines for the benefit of the Nigerian fleet.
He said: “Talking about the cargo, I am going to suggest to our committee, all these cargo the minister is talking about his ministry, we want to know the countries, and the countries must have identified their own shipping lines that they want to ship these things.

“We want to form a JV with them like forming a JV with PIL, so you have the cargo liners as well. At the end of the day, as many people as are there, can individually establish their line or can form consortium for that purpose,” he said.

He highlighted the fact that the incentives to be made available by government would be enjoyed by every operator.

Upshot with additional report from Shipping Day