The German business community in the port city of Hamburg have discussed with the Lagos State Governor, Mr. Babatunde Fashola, and other state officials opportunities for business partnership between Lagos and Hamburg.
The meeting, was at the instance of the German Consul-General.
In his presentation titled, “Investment Opportunities In Africa’s Emerging Model Mega-City,” Fashola explained the rationale behind the LFTZ, the proposed Lekki airport, deep sea multi-purpose port within the zone, light industrial and manufacturing estate, petrochemical plants and oil refineries, housing and power supply projects as well as the incentives, which had been provided for the benefit of investors.
Incentives include 100 per cent repatriation of capital, profit and dividends; 100 per cent tax holidays, custom duties and levies, tax-free imports of raw materials and components for goods destined for re-export, waiver on all import and export licenses and waiver on all expatriate quotas for companies operating within the zone.
Fashola pointed out to the German business community, that water supply offeres huge returns on investment as Lagos had over 18 million people and a growing population.
Other areas of investment in this sector, according to the Governor, include construction and management of water plants, water distribution and bulk metering of 31 zones and waterworks.
Areas of investment in the sector, according to Fashola include the Blue Line, 27 kilometres, and the Red Line, 31km, station parking, rail infrastructure development which required $787m, with projected returning annual revenue of $400m.
Fashola said with the capacity to transport 37 million people annually with projected yearly revenue of $37m, the four ferry routes in the state is also another investors haven where investors can also take on jetty construction and management, operator services as well as ferries.
Also on the trip with governor Fashola were the Chief Whip of the state House of Assembly, Dr. Abdulrazaq Balogun, Chairman, House Committee on Commerce and Industry, Mr. Sanai Agunbiade and Chairman, House Committee on Health, Dr. Babatunde Adejare.
Others are the state Commissioner for Transportation, Prof. Bamidele Badejo and his health counterpart, Dr. Jide Idris, Special Adviser on Works and Infrastructure, Mr. Ganiyu Johnson, and his Commerce and industry counterpart, Mrs. Sola Oworu.
Monday, June 7, 2010
ANOTHER PLUS FOR CARGO TRACKING NOTE
Inspite of criticisms by some Stakeholders in the maritime industry on the introduction of the cargo tracking system in Nigerian ports, others have continued to throw their weight behind the system.
A member of the Council of Regulation of Freight Forwarding in Nigeria, Alhaji Inua Mohammed, said the newly-introduced Cargo Tracking Note (CTN) will not only promote maritime trade but if well run will contribute enormously the's country’s financial well being and ability to facilitate legitimate trade and attract new inward investment.
According to Mohammed, CTN is very critical to the economy, and the maritime system because it has introduced accountability and transparency into cargo clearance.
He said there is no additional cost on cargo tracking as everything is paid for right from the port of origin noting that many shipping agents have over the years been collecting the monies and never remitted them.
He said with CTN, the government will be able to pluck revenue loop holes which have undermined economic growth.
The Comptroller-General, the Nigeria Customs Service, Alhaji Dikko Abdullahi, while calling on Nigerians to support the Federal Government’s Cargo Tracking Note(CTN) for safety, security and prompt clearance of goods at the port said that contrary to wide-held speculations, the CTN will neither increase freight charges nor cost of operations at the ports.
"You see, when we talk about this procedure, it is that we are very much aware about the way cargoes come into the country, actually with some of them not having verification because where government says these are the fiscal policies; these are the laid down rules as regards imports but with this cargo tracking note, actually, the shipper must tell us what the container is carrying including the documents of the container.
" So one, it will actually assist the customs in knowing what is in the container. It will help us reduce burden of physical examination except where we think we have profiled the container for 100 per cent examination. I believe it is very good. I believe it’s going to bring much awareness to the people of Nigeria about what (the importer) is going to bring in terms of security and it will increase our revenue collection because we are going to know how much cargoes or the exact quantity of what is in the container,"
While calling on members of the organised private sector and maritime stakeholders to embrace CTN, he argued that the newly introduced scheme will guard against sharp practices, under-declaration of cargo and concealment by importers.
"As a Custom officer, I can bring you the bill of laden but I can tell you that there are no actual content of what the cargo is carrying and that is why we have false declarations. One may tell you that he’s carrying used engines, but when we open, we will find he’s carrying textile.
Although Freight forwarders are spoil-ing for war with the organised private sector for not giving a soft berth for the new Cargo Tracking Note (CTN),Nigerian Ports Authority (NPA) says the newly-introduced Cargo Tracking Note (CTN) will not add to the cost of doing business in the Nigerian ports.
Spokesman of the authority ,Musa Iliya,said the CTN fee or charges had been an integral part of cargo freight.
According to Iliya, there is no additional cost on cargo tracking as everything is paid for right from the port of origin but shipping agents have over the years been collecting the monies and never remitted them.
The Cargo Tracking Note was approved by the Federal Executive Council at its meeting of 9th of December, 2010.
A member of the Council of Regulation of Freight Forwarding in Nigeria, Alhaji Inua Mohammed, said the newly-introduced Cargo Tracking Note (CTN) will not only promote maritime trade but if well run will contribute enormously the's country’s financial well being and ability to facilitate legitimate trade and attract new inward investment.
According to Mohammed, CTN is very critical to the economy, and the maritime system because it has introduced accountability and transparency into cargo clearance.
He said there is no additional cost on cargo tracking as everything is paid for right from the port of origin noting that many shipping agents have over the years been collecting the monies and never remitted them.
He said with CTN, the government will be able to pluck revenue loop holes which have undermined economic growth.
The Comptroller-General, the Nigeria Customs Service, Alhaji Dikko Abdullahi, while calling on Nigerians to support the Federal Government’s Cargo Tracking Note(CTN) for safety, security and prompt clearance of goods at the port said that contrary to wide-held speculations, the CTN will neither increase freight charges nor cost of operations at the ports.
"You see, when we talk about this procedure, it is that we are very much aware about the way cargoes come into the country, actually with some of them not having verification because where government says these are the fiscal policies; these are the laid down rules as regards imports but with this cargo tracking note, actually, the shipper must tell us what the container is carrying including the documents of the container.
" So one, it will actually assist the customs in knowing what is in the container. It will help us reduce burden of physical examination except where we think we have profiled the container for 100 per cent examination. I believe it is very good. I believe it’s going to bring much awareness to the people of Nigeria about what (the importer) is going to bring in terms of security and it will increase our revenue collection because we are going to know how much cargoes or the exact quantity of what is in the container,"
While calling on members of the organised private sector and maritime stakeholders to embrace CTN, he argued that the newly introduced scheme will guard against sharp practices, under-declaration of cargo and concealment by importers.
"As a Custom officer, I can bring you the bill of laden but I can tell you that there are no actual content of what the cargo is carrying and that is why we have false declarations. One may tell you that he’s carrying used engines, but when we open, we will find he’s carrying textile.
Although Freight forwarders are spoil-ing for war with the organised private sector for not giving a soft berth for the new Cargo Tracking Note (CTN),Nigerian Ports Authority (NPA) says the newly-introduced Cargo Tracking Note (CTN) will not add to the cost of doing business in the Nigerian ports.
Spokesman of the authority ,Musa Iliya,said the CTN fee or charges had been an integral part of cargo freight.
According to Iliya, there is no additional cost on cargo tracking as everything is paid for right from the port of origin but shipping agents have over the years been collecting the monies and never remitted them.
The Cargo Tracking Note was approved by the Federal Executive Council at its meeting of 9th of December, 2010.
LAGOS STATE SIGNAGE AND ADVERTISING AGENCY(LASAA) BAGS COMMERCE AND INDUSTRY CORRESPONDENTS 2009 CRYSTAL AWARD OF EXCELLENCE.
The Lagos state signage and advertising agency(LASAA) has bagged the Commerce and industry correspondents 2009 crystal award of excellence. The award was presented during the association’s annual dinner and award night held at Sheraton hotel.
Appreciating the gesture by CICAN the chief executive officer, Lagos state signage and advertising agency (LASAA)Makanjuola Alabi said the award is an indication that the agency is making tremendous progress inspite of complaints from some quarters.
Reiterating the state government’s commitment to create a more conducive and habitable environment the LASAA boss said the agency will continue to provide infrastructures capable of promoting good advertisements in line with the mission statement of the agency to modernize, standardize and regulate street scopes so as to benefit the citizensry and visitors alike.
He said the goal of the agency established by the Lagos state structure for signage and advertisement agency law 2006 is to sustain excellence in service delivery as it relates to the advert industry. Stressing the growing trend in outdoor advertising the LASAA boss said advertisers have increasingly acknowledged the effectiveness and its wide reach.
He urged stakeholders and their agents to ensure compliance with the laws of the agency so as to attain the mega statues dream of the state government.
Commenting on the award, the chairman CICAN Babatola Adeyemi said the agency’s recognition for excellence is based on its performance in standardizing and regulating outdoor advertising in the state. He said the CICAN crystal award which is an annual event will continue to reward excellence in the real sector of the economy with its growing recognition.
Appreciating the gesture by CICAN the chief executive officer, Lagos state signage and advertising agency (LASAA)Makanjuola Alabi said the award is an indication that the agency is making tremendous progress inspite of complaints from some quarters.
Reiterating the state government’s commitment to create a more conducive and habitable environment the LASAA boss said the agency will continue to provide infrastructures capable of promoting good advertisements in line with the mission statement of the agency to modernize, standardize and regulate street scopes so as to benefit the citizensry and visitors alike.
He said the goal of the agency established by the Lagos state structure for signage and advertisement agency law 2006 is to sustain excellence in service delivery as it relates to the advert industry. Stressing the growing trend in outdoor advertising the LASAA boss said advertisers have increasingly acknowledged the effectiveness and its wide reach.
He urged stakeholders and their agents to ensure compliance with the laws of the agency so as to attain the mega statues dream of the state government.
Commenting on the award, the chairman CICAN Babatola Adeyemi said the agency’s recognition for excellence is based on its performance in standardizing and regulating outdoor advertising in the state. He said the CICAN crystal award which is an annual event will continue to reward excellence in the real sector of the economy with its growing recognition.
'CARGO TRACKING NOTE SYSTEM 'GETS SUPPORT OF NATIONAL COUNCIL OF MANAGING DIRECTORS OF LICENSED CUSTOMS AGENT
kPrior to the September eleven booming of the world trade centre in the U.S. customs authorities were responsible for the clearance of imported goods at destination With the incident a cargo security program was developed.
This new protocol for tracking and screening of cargo both from the country of origin to destination known as the cargo tracking note system was the focus of a one day National workshop organised by the commerce and industry correspondents association of Nigeria at the Airport Hotel in Lagos.
Delivering the paper titled “strengthening global cargo security system through tracking, screening and inspection of import and export of goods”, the National President , National Council Of Managing Directors of Licensed Customs Agent, Lucky Eyis Amiwero explained that for the global requirement for supply chain mechanism America enacted three laws to take care of port facilities, vessels and cargo.
They are namely Maritime transport security act, the safe port act and the trade partnership against terrorism act. He explained that the safe port act among others focuses on harmonization of advance electronic cargo information requirements for inbound and transit shipment.
Enumerating the benefits of the cargo tracking system, Amiwero said cargo tracking represents an additional layer of security to ensure that goods reach their destination in the same condition as they began their journey.
Speaking on the 7 percent port development levy and cargo tracking note, Amiwero said the concept of 7 percent port development levy should be looked into so as to drop such charges as was recommended by the inter – Ministerial task force for the review of port charges. He said the present collection of seven percent levy in port industry is not in consonant with the port concession agreement that transfer port development activities to the terminal operators. , Amiwero stressed the need to transfer such charges to more productive aspect of port operation which is the cargo tracking note process that is for revenue generation, security and safety of cargo in line with global trend.
This new protocol for tracking and screening of cargo both from the country of origin to destination known as the cargo tracking note system was the focus of a one day National workshop organised by the commerce and industry correspondents association of Nigeria at the Airport Hotel in Lagos.
Delivering the paper titled “strengthening global cargo security system through tracking, screening and inspection of import and export of goods”, the National President , National Council Of Managing Directors of Licensed Customs Agent, Lucky Eyis Amiwero explained that for the global requirement for supply chain mechanism America enacted three laws to take care of port facilities, vessels and cargo.
They are namely Maritime transport security act, the safe port act and the trade partnership against terrorism act. He explained that the safe port act among others focuses on harmonization of advance electronic cargo information requirements for inbound and transit shipment.
Enumerating the benefits of the cargo tracking system, Amiwero said cargo tracking represents an additional layer of security to ensure that goods reach their destination in the same condition as they began their journey.
Speaking on the 7 percent port development levy and cargo tracking note, Amiwero said the concept of 7 percent port development levy should be looked into so as to drop such charges as was recommended by the inter – Ministerial task force for the review of port charges. He said the present collection of seven percent levy in port industry is not in consonant with the port concession agreement that transfer port development activities to the terminal operators. , Amiwero stressed the need to transfer such charges to more productive aspect of port operation which is the cargo tracking note process that is for revenue generation, security and safety of cargo in line with global trend.
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