Residents of Zamfara, Cross River and the Federal Capital Territory (FCT) paid the highest intra-city bus journey fares in Nigeria in April, the National Bureau of Statistics (NBS) has said.
The bureau, in its transport fare watch report for April, said residents of Zamfara paid an average of N305.00; those in Cross River paid N284.00 and those in the FCT paid N280.00 in the month under review.
The report added that states with the lowest bus journey fares within the city were Sokoto N132.00, Abia N130.70, and Bauchi N95.00.
Some of the most important global sea lanes pass the continent of Africa. Major routes navigate the Cape of Good Hope between the Atlantic and Indian Oceans, through the Red Sea and east-west through the Mediterranean Sea. Although Africa’s own maritime transport sector remains relatively undeveloped, more than 90 percent of all imports and exports in Africa are facilitated by sea through ports along the coast. Africa is also home to one of the world’s largest shipping registries. The Liberian Registry covers 11 percent of the world’s oceangoing fleet.
The African Development Bank (AfDB) and ECOWAS, have signed an agreement for a study into a 1,000 km highway that will link Cote d’Ivoire’s commercial capital Abidjan, to Lagos. Mr Chawki Chahed, Senior Communications Officer, Communication and External Relations Department of AfDB, made this known in a statement in Abuja on Tuesday.
Chahed disclosed that the development would mark a new step in building regional integration and trade in the sub-region.
The maritime industry in Nigeria is very green and vast. With its long coastline, unique location, large oil and gas deposit, large and growing population, among others, Nigeria is well-positioned to transform its ports into attractive destinations for both regional and globaltrade.
The maritime sector provides vast window of business opportunities in several related activities that offer commensurate returns on investments to the potential investors.
Over 100 maritime leaders are uniting in Accra to showcase upcoming mega-projects and call for partners in development at African Ports Evolution - West Africa.CAPE TOWN, WESTERN PROVINCE, SOUTH AFRICA, July 6, 2017 /EINPresswire.com/ -- With West Africa now receiving significant attention from global investors, over 100 of the region's maritime leaders are uniting in September to showcase upcoming mega-projects and call for partners in development.
Dramatic expansion plans at the region’s ports not only promise to improve port capacity but also hinterland connectivity to exponentially grow West Africa’s blue economy. Against this backdrop, the African Ports Evolution - West Africa Forum takes place in Accra, Ghana from 5-7 September 2017. The forum will unite leading port users and customers from bulk exporters to international investors and tourism boards to discuss multi-modal requirements and infrastructure solutions to propel the blue economy into a leading contributor to GDP.
Paul Asare Ansah, Director General of the Ghana Ports and Harbours Authority will discuss the $1.5 billion project for the expansion of the Port of Tema and Hadiza Bala Usman, Managing Director of the Nigerian Ports Authority, will discuss procurement for various projects under NPA's proposed 2017 Capital and Recurrent Budget that includes maintenance, rehabilitation and construction projects.
The International Sea Trade and Investment Convention (ISTI) Committee on Wednesday said that all was set for Nigeria to host its first International Sea Trade and Investment Convention. In a statement in Lagos Mr Adebayo Sarumi, the Chairman of the convention committee said that the aim was to position Nigeria as a maritime hub. The News Agency of Nigeria (NAN) reports that the event, which is scheduled to hold in Lagos on Oct. 5 and 6., is designed as a platform to address issues of new and direct trade route between Nigeria and her leading trading partners. The Convention with the theme “Exploring New Trade Frontiers” will explore cross border potentials along regional trade corridor.
The Federal Government’s policies on importation of rice and motor vehicles, as well as the new Central Bank of Nigeria (CBN) policy on foreign exchange, are taking a toll on the operating capacity of the country’s seaport terminals, with many now operating at between 30 percent and 40 percent below capacity.
Industry watchers say that most terminals at the port now operate below capacity due to the reduction in the number of ships that call the port, which results in a decline in the volume of imported cargo at the port.
Formerly, an average of 100 vessels berthed at the port monthly, with various cargoes in the Lagos pilotage district.
This number has however decreased in the past three months, to an average of 40 vessels per month. The implication is that terminals which have the capacity to handle three to four vessels simultaneously now handle one or two vessels in a week.
BusinessDay invetigations reveal that the most affected are the break bulk and roll-in, roll-out (RoRo) terminals. These are specialised terminals built with equipment to handle bulk cargoes such as wheat, rice, salt and sugar, while RoRo terminals are equipped to handle imported new and used vehicles which come in RoRo vessels.
Badagry Ship Repair and Maritime Engineering Company (BSMEC), a consortium of five Nigerian firms, has named Samsung Heavy Industries and Hyundai Heavy Industries as technical partners to the development of the ship repair project at Badagry, Lagos.
The consortium, which restated its commitment to the project, said Samsung and Hyundai would be investing in the facility as promoters as well as adding their technical expertise. The facility will undertake the repairs and maintenance of large vessels and offshore units, while the catchment area of the facility will include the West African market.
Speaking after its fourth strategic partners meeting in Lagos, Taiwo Afolabi, chairman of BSMEC, said the project, if completed would be a game changer.
“The vision of this facility is to establish a world-class ship repair and maintenance centre in Nigeria, which will take care of the huge number of vessels that currently operate in Nigeria. It will create jobs, develop both the maritime and oil industries, and act as foreign exchange earner, among other benefits.
“The consortium is working with various globally-tested technical partners and shipyard operators. Samsung Heavy Industries and Hyundai Heavy Industries are part of the project, while we have also opened discussions with Damen Shipyard in Holland. All the partners are committed to see this project come to a completion,” he said.