Piracy - Foreign Shipping Firms Pay N14 Billion to Escort Vessels in Nigeria

Due to the volatile nature of Nigeria waterways, foreign shipping companies spend over N13.76 billion ($45 million) annually to escort their vessels from one point to another on Nigeria's waterways, LEADERSHIP has learnt.

About four major international shipping companies operate in the country including Maersk Line, Mediterranean Shipping Company, Grimaldi and CMA/CGM in addition to smaller foreign and local shipping companies operating on the waterways.

Piracy: US warns ships over Nigerian waters

The United States of America, through its Maritime Administration, has published the latest Maritime Alert.

In the alert, which was released, Wednesday, it warned ships to be wary when approaching Nigerian waters.

According to the US Maritime Administration, the two recent incidences of pirate attacks in the Niger Delta of Nigeria is a confirmation of escalating insecurity around and on the waters of Nigeria. It made reference to the attacks on October 21 and 25, 2017.

Oando posts N7.1b profit-after-tax in 9 months

Despite its running battles with Nigeria's Securities and Exchange Commission (SEC), Oando PLC on Wednesday announced unaudited results for the nine months period ended 30 September, 2017. Commenting on the results Wale Tinubu, Group Chief Executive, Oando PLC said: “Our third-quarter financials are reflective of the success of our strategic initiatives of Growth through our dollar earning upstream portfolio; Deleverage through recapitalization and asset divestments and the expansion of our oil export trading business.

NPA/Intels Crisis: Reps say FG flouted due process

The lingering crisis over the cancellation of Nigeria Ports Authority (NPA) boats pilotage monitoring and supervision agreement with Intels Nigeria, by the federal government has taken another dimension, as members of the House of Representatives yesterday insisted that government flouted due process and must return to status quo.
Lawmakers, who spoke on this development at the weekend pointed out that government action did not only lack due process, but, added that it is wrong for one of the parties involved to take action without consulting the other.

Bayelsa Govt pledges support to NCDMB

The Bayelsa State Government will cooperate and support the Nigerian Content Development and Monitoring Board (NCDMB) to succeed with its initiatives and implementation of the Nigerian Content Act, says Governor Seriake Dickson.
He spoke at the 2017 Succession Planning Workshop, organised in Yenagoa, Bayelsa State by the Nigerian Agip Oil Company (NAOC) for its contractors, and described the Executive Secretary of NCDMB, Engr. Simbi Kesiye Wabote as a competent oil and gas professional and worthy ambassador of the state.

Reps reverse INTELS’ contract revocation

The House of Representatives have ordered an immediate reversal of the termination of the contract between Integrated Logistics Services (INTELS) Nigeria Limited and the Nigerian Ports Authority (NPA).
Adopting a motion sponsored by Diri Duoye under matters of public importance during the plenary session presided over by Speaker Yakubu Dogara on Wednesday, the House resolved to raise an ad-hoc committee to ascertain if due process was followed before the termination of the contract.