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CREFFPON Warns: Port Business May Suffer in 2022, except High Tariff is addressed

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CREFFPON Warns: Port Business May Suffer in 2022, except High Tariff is addressed

CREFFPON Warns: Port Business May Suffer in 2022, except High Tariff is addressed

… Says Forex, Unstable Policies make Nigerian Ports unattractive!***

The Congregation of Registered Freight Forwarding Practitioners of Nigeria (CREFFPON) has warned that the Nigerian ports stand to lose out in 2022, except there’s urgent adoption of strategies to tackle the challenges of high tariffs and attract new investors in the African Continental Free Trade Area regime.

The CREFFPON highlighted this, bemoaning the unstable foreign exchange which characterized the ports in 2021 while pointing out that the nation’s ports in 2021 actually experienced an investments glut and cargo was diverted to West African ports due to high tariffs and the Government’s unstable foreign exchange policies.

Stressing that the issue of high tariffs must be timely addressed, the group in its forecast for the year 2022, therefore, cautioned barge operators to streamline their tariffs for efficiency and advised the Federal Ministry of Finance and the Central Bank of Nigeria to revise the policy which denied importers access to foreign exchange.

The group equally maintained that the essence of an economic regulator in the industry was gradually losing steam.

“We hope that the new agenda (of the Executive Secretary of the Nigerian Shippers’ Council) will revamp the industry by instituting an industry pricing system that promotes competitiveness and meets the International best practices,” CREFFPON stated, noting that the cost of doing business in Nigerian ports was still too expensive and does not add up towards a healthy economy.

It cautioned that ports within the region were targeting Nigerian bound cargo and have positioned themselves to transshipment hub and were ready for prompt participation in the African Continental Free Trade Area regime.

It further pointed out that the increase in cargo throughputs of Lome, Cotonou, Cameroon, Ghana ports attests to the fact that Nigerian bound imports are being diverted.

CREFFPON decried the directive of the Finance Ministry /Central Bank of Nigeria on Trade Fiscal Policies.

Rather, it said the trade policy of uploading more than 41 import items and denying importers access to Forex on the basis that they should source for their foreign exchange from the parallel markets is inimical to business growth.

The group criticized the CBN Forex administration for not impacting both the nation and the trading public positively, saying that the policy promotes all manners of trade irregularities and noncompliance on the part of the trading public, especially in its quest to break even in trade transactions, in relation to profitization.

It added that the policy and the poor administration of the forex regime (persistent forex fluctuations) is a contributory factor in the ailing economic hardship in the country, as the nation is still import-dependent.

CREFFPON called on the CBN and the supervisory ministry to reevaluate the impact of this fiscal policy with a view to reviewing it.

While commending barge operators for their interventionist services undertaken to remedy the port congestion, it cautioned on the need for a streamlined tariff system and efficiency.

For the port industry to progress in the new year, CREFFPON charged the Nigerian Ports Authority (NPA)  to redouble its commitment to tackling vehicular traffic in and around Apapa ports by refining the e-truck call-up system as many streets of surrounding towns around the ports have been taking over by trucks.

“NPA should be concerned about its port rating globally, especially in relation to port friendliness, costs and efficiency,” it also stated.

 

While commending the Nigerian Maritime Administration and Safety Agency (NIMASA) on combating piracy, CREFFPON said “the doggedness of the agency (NIMASA) to combat piracy activities on Nigerian territorial waters had ensured reduction in the sea crime.

It demanded that the Blue Economy project should be communicated further to the stakeholders, especially, in the area of research and human capacity development, as enshrined in the AIM-Strategy content development.”

The group described the declaration of excess revenue and profits amidst low cargo throughputs by the Nigeria Customs Service, shipping companies, terminal operators, and others as depressing, saying it truly “equally speaks volumes that something is wrong somewhere in their mode of operations.”

On the Council for the Regulation of Freight Forwarding in Nigeria (CRFFN) Governing Council Election, CREFFPON urged the Ministry of Transportation to take a firm stand and conclude the electioneering process.

“The freight forwarders cannot continually afford to stay divided by mere trivial issues.

Time to think more of our profession other than our individual interests is now.

“The haulage sector of the freight forwarding profession requires an intervention.

The present trucking system needs better reorganization, and the CREFFPON shall be at the forefront to drive this objective in the year.

The importance of a transport logistics services cannot be overstated, as it touches the lives of Nigerians significantly”, it explained further.

 

Economy

Unstable Economy: UK Firm Presents Solutions To Nigerian Business Leaders

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SOAN Inaugurates New Leadership, Boosting Hopes Of Crushable Inflation

Nigerian business leaders are to benefit from the programme of United Kingdom-based leadership development organisation TEXEM UK on how to win despite the exodus of staff, very high inflation and turbulent operating landscape.

TEXEM’s Director of Special Projects, Caroline Lucas, said on the organisation’s website, www.texem.co.uk, that the programme with the theme “Strategies for Sustainable Organisational Success” is slated for April 24 and April 25 in Lagos.

According to Lucas, in today’s volatile and disruptive business landscape, organisations face numerous strategic challenges.

“TEXEM’s programme, “Strategies for Sustainable Organisational Success,” offers tailored solutions to address these pressing issues.

“Senior leaders grappling with skyrocketing costs, high currency risks, and disruptive technologies require practical insights and tools to navigate uncertainty effectively.

“This programme provides actionable strategies for sustainable success amidst turbulent times,” she said.

Lucas asserts that exceptional crisis management skills are essential in the face of staff exodus and geopolitical disruptions.

“TEXEM equips participants with the necessary leadership capabilities to lead through crises, ensuring organisational excellence even amidst adversity.

“Innovation becomes imperative in turbulent waters.

“TEXEM’s programme fosters a culture of innovation and provides guidance on harnessing adversity as a catalyst for profitable growth,” she said.

According to her, participants will learn to turn challenges into opportunities, driving sustained profitability.

Lucas said resilience and effective risk management are crucial in today’s volatile landscape.

She said through interactive sessions and case studies, TEXEM helps senior leaders develop unshakable qualities, enabling them to navigate uncertainty and confidently mitigate risks.

“Optimizing resource utilisation is paramount amidst soaring costs.

“TEXEM offers insights on managing resources efficiently, ensuring optimal impact even amidst cost pressures. Decisive problem-solving is paramount.

“TEXEM enhances participants’ decision-making capabilities through peer learning and observation practice, empowering them to make better decisions that drive organisational success,” Lucas said.

She said that beyond the curriculum, networking opportunities with industry peers enrich the learning experience, abound.

“Professional exchange provides valuable insights into different approaches to overcoming challenges, enhancing overall learning and impact.

“TEXEM’s programme aims to develop leadership strategies for optimum performance in an era of uncertainty.

“By helping participants understand how to manage and deploy resources more efficiently, it equips them with the skills needed to thrive in turbulent times,” Lucas said.

Saying that adversity is the mother of innovation, she added that TEXEM empowers individuals and organisations to thrive in volatile times, fostering innovation and sustained profitability.

“At the end of the programme, participants can expect to develop leadership skills for better decision-making and possess survival skills to navigate crises effectively.

“Through its comprehensive approach and proven methodology, TEXEM ensures participants unlock their potential, foster innovation, and drive sustained profitability in today’s challenging environment,” Lucas said.

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Economy

Sanwo-Olu Urges Use of Innovative Technologies in Solving Challenges

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Sanwo-Olu Urges Use of Innovative Technologies in Solving Challenges

Gov. Babajide Sanwo-Olu of Lagos State has called for the use of innovative technologies in resolving the economic and social challenges of the country.

Sanwo-Olu said this on Wednesday during the pioneer graduation of the Lateef Jakande Leadership Academy (LJLA) at Konga Place in Lekki.

He said that the new platform of globalisation and Internet of things must be significantly employed to resolve new challenges encountered in the course of improving the living standards of citizens.

30 students, 15 men and 15 women, between 18 and 35 years, graduated from the academy after a one-year course and mentorship in leadership.

The Lagos Leadership Summit (LLS) is a pivotal platform dedicated to empowering Nigeria’s young professionals with the skills and insights essential for success in various leadership roles.

With a focus on leadership excellence, ethical governance, and youth inclusion in governance, the summit offers a unique opportunity for participants to engage with renowned leaders and industry experts.

” You have to be able to innovate for us, you are here as leaders of not tomorrow but today. Proffer solutions that the government can use as a tool, to solve the challenges that we are facing today but more importantly to solve global issues.

“And that is why we started the Lateef Jakande Leadership Academy. For us as a government, we felt how well can we honour a man than for us in public sector to set up a cream of new leaders.

“So we set up this school that has the first set, the one-year fellowship, who indeed have not only shown us that we took the right step, they have been outstanding individuals,” the governor said.

The guest speaker and former governor of Lagos State, Babatunde Fashola, noted that it was important for followers to trust their leaders for a successful outcome.

“The people need to trust the government, they must know the capability of their leaders so that when issues beyond human expectations happen, the followers can show empathy to the plight of their leaders.

” I have always been an advocate that believes that the process is as important as the result, the end shouldn’t justify the means, the process is crucial, it serves as a blueprint for others coming behind,” he said.

Similarly, Dr Obafemi Hamzat, Deputy Governor, who spoke on “Leadership And Community Engagement”, stated that to achieve effective leadership in Nigeria, there was the need to navigate complex political, economic and social landscapes.

Hamzat urged the citizens to be involved in governance while stressing the need for collaborations with private stakeholders and the public sector.

According to him, community engagement with government at all levels is pivotal to the nation’s development.

In her address, Mrs Ayisat Agbaje-Okunade, LIJA’s Executive Secretary, noted that the challenges faced required leaders who are not only capable but compassionate, visionary, and adaptable.

According to her, leadership must transcend rhetoric and manifest tangible outcomes.

“We need leaders who inspire confidence, foster unity, and drive transformation.”

Agbaje-Okunade urged the participants to embrace the responsibility that comes with leadership and pave the way for a generation of new leaders.

The keynote speaker, Mr Abubakar Suleiman, Chief Executive Officer, Sterling Bank, said that leadership is about leading people on a new purposeful journey.

Suleiman said being a strategic thinker and a transformational leader was what makes leadership different from management, adding that the future is being crafted in leadership.

“In essence, as a leader, you must be able to lead people to the future hence, you must be convincing for people to be bold to follow you, able to trust and believe in you.

“For one to be a leader, the people must be able to believe and trust you to take them to the future where you have never been to,” he said.

Also speaking, Mr Tunbosun Alake, Commissioner, Innovation, Science and Technology, stressed that leadership had nothing to do with being young or old but having good values and character.

The commissioner advised the participants to pursue excellence in their various career paths to succeed in life.

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Economy

Eid-el-Fitr: Tinubu Urges Sacrifice, Integrity For National Rebirth

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Eid-el-Fitr: Tinubu urges sacrifice, integrity for national rebirth

 President Bola Tinubu has urged Nigerians to continue to make sacrifices and exhibit integrity for national development.

Tinubu said this after observing the Eid-el-Fitr prayer at the Eid Ground at Dodon Barracks on Wednesday in Lagos.

The President also called on Nigerians to continue to have faith in his government and remain patriotic citizens.

Tinubu said that the Renewed Hope Agenda of his administration, aimed at bringing prosperity to Nigerians, was being diligently implemented.

Encouraging Muslims to extend the values of sacrifice and resilience beyond the fasting period, Tinubu emphasised the need for Nigerians to prioritise the exhibition of love for their country.

‘’The resilience and sacrifice that we have shown and made during these months should be preserved.

“Be a kind and cheerful giver. We must love our country more than any other country because this is the only one we have.

‘’We must continue to protect the integrity of our government and leadership. The Renewed Hope Agenda is alive, well and fine, and Nigerians should continue to be very hopeful. Without hope, there is no salvation.

“Without hope, there is no development. Without hope, there is no life. Eid Mubarak,’’ the President said at the end of the prayers led by the Chief Imam of Lagos State, Sheikh Sulaiman Abou-Nolla.

Earlier in his sermon, the Chief Imam urged Nigerians to shun all acts of violence, ensure peaceful co-existence, and continue to have faith in the country.

He asked those in leadership positions to remain faithful to their oaths of office and work towards alleviating the suffering of the less privileged.

‘‘Let us not forget our brothers and sisters in Gaza and other areas of conflict,’’ the Chief Imam said.

He offered prayers of God’s guidance, wisdom, and protection for the President and the Lagos State government, as well as for peace and stability in the country.

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