Musings From Abroad

Nigeria loses $9.2 billion to foreign shipowners

Published

7 months ago

April 28, 2024

A group of maritime experts has revealed that Nigeria loses $9.2bn a year to foreign shipping lines that carry goods that the country’s fleet should be carrying.

Hassan Bello, who used to be the Chairman of the National Fleet Implementation Committee, said at the inauguration of the new leaders of the Shipowners Association of Nigeria in Lagos on Friday that the national fleet should be a private-sector project.

“$9.2bn lost annually to foreigners. This is trade that goes to foreign-owned shipping companies or carriers. You could imagine what that could do to our economy if we had a national fleet. The national fleet should be an initiative of the private sector but the government should encourage it,” Bello said.

Bello, who used to be the executive secretary of the Nigerian Shippers Council, said that all the money that was meant to come from Nigeria now goes to foreigners, giving them jobs. He said again how important it was for indigenous people to be able to trade with other countries.

“You know the significance of having indigenous participation in international trade. 90 per cent of international trade is done through the sea, carried by ships from one country to another.

“And we have been missing in action, that’s the whole problem. We need to be elusive, unequivocal, and deliberate in our efforts. And that is why it is important for this association. We will see it as one of the efforts to take us out of the dungeons,” he asserted.

A person who used to be the executive secretary of the Nigerian Shippers Council complained that Nigeria’s economy was based on exporting only one good, which was crude oil.

“We have to own and operate indigenous tonnage, purely private sector driven by providing incentives that are the function of a government, friendly operating climate, like tax holidays, and a wide range of very important incentives, which other countries have used. We have no time to do that. We are talking about tax holidays. We are talking about fiscal policies, legal, and the policy changes,” he stated.

Also, Dr. McGeorge Onyung, who was President of the SOAN right before he left, was upset that Nigeria wasn’t taking advantage of the $14tn ocean economy. Onyung, who is also the Managing Director of Jevkon Oil & Gas, said that when Nigeria brought materials and equipment from China for the Lagos-Calabar train line project, it made Chinese shipowners rich instead of keeping the freight money in Nigeria.

“The economy of this country would not improve if we don’t diversify into the ocean economy. The fact is very clear that without shipping, there is no shopping. If you don’t remember anything today, please remember that without shipping, there is no shopping.

“Now, we are building a railway from Lagos to Calabar. I don’t know how much that will cost. I don’t know how long it will take. But all the wagons and the rails must come from China, wherever, by sea. And it should be ships that should bring them in. So, we should start making the money before the railway is constructed,” he averred.

Related Topics:Featured Foreign shipowner Nigeria

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Musings From Abroad

Russia vetoes Sudan conflict Security Council move

Published

8 hours ago

November 20, 2024

Ifeoluwa Dada

A draft resolution from the UN Security Council urging Sudan’s warring parties to immediately end hostilities and guarantee the delivery of humanitarian supplies was vetoed by Russia on Monday.

China and every other member of the 15-member council supported the British-Serra Leonean-drafted motion.

In a decision described as “mean, nasty, and cynical” by British Foreign Secretary, David Lammy, Russia was the only member to vote against, sending a message to the warring parties that they may act without consequence.

The world’s greatest relocation crisis began in April 2023 when the Sudanese army and the paramilitary Rapid Support Forces engaged in a power battle ahead of a scheduled transfer to civilian administration.

The conflict’s participants were urged by the draft resolution to “immediately cease hostilities and engage, in good faith, in dialogue to agree steps to de-escalate the conflict to urgently agree a national ceasefire.”

In addition, it urged them to hold talks to reach agreements on humanitarian pauses and arrangements, guarantee the safe movement of people, and provide sufficient humanitarian relief, among other things.

The United Kingdom was accused by Russia of trying to interfere in Sudanese affairs.

“We agree with all Security Council colleagues that the conflict in Sudan requires a swift resolution. It is also clear that the only way to achieve this is for the warring parties to agree to a ceasefire,” Deputy Russian U.N. Ambassador Dmitry Polyanskiy told the meeting.

He claimed Lammy’s critique was an “excellent demonstration of British neo-colonialism” and accused those who supported the proposed resolution of using “double standards” by allowing Israel to continue violating international humanitarian law in Gaza.

“One country stood in the way of the council speaking with one voice. One country is the blocker. One country is the enemy of peace. This Russian veto is a disgrace, and it shows to the world yet again, Russia’s true colours,” Lammy told the meeting.

“I ask the Russian representative, in all conscience – sitting there on his phone – how many more Sudanese have to be killed? How many more women have to be raped? How many more children have to go without food before Russia will act?”

Nearly 25 million people, or half of Sudan’s population, require help, according to the U.N., since 11 million people have abandoned their homes and starvation has spread to displacement camps. Of those, almost 3 million have departed for other nations.

Musings From Abroad

UK wants Security Council vote on Sudan resolution

Published

8 hours ago

November 20, 2024

Ifeoluwa Dada

According to the British foreign ministry, Britain will look to other members of the UN Security Council on Monday to support its call that the warring parties in Sudan halt their fighting and let in humanitarian supplies.

A vote on a draft resolution offered by the UK and Sierra Leone that also demands for the protection of civilians is scheduled to be chaired by British Foreign Minister David Lammy, as London holds the council’s rotating presidency.

British Foreign Minister, David Lammy, is set to chair a vote on a draft resolution proposed by the UK and Sierra Leone that also calls for the protection of civilians, as London holds the council’s rotating presidency.

The British foreign ministry said that Britain will look to other members of the UN Security Council on Monday to support its call for the warring parties in Sudan to cease their fighting and allow humanitarian supplies.

He was supposed to declare that Britain “will keep standing with Ukraine until reality dawns in Moscow” in reference to the conflict in Ukraine.