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Cargo evacuation by rail will help decongest port —- NSC Director

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Chiazo Ogbolu
Nigerian Shippers’ Council(NSC) on Monday said it would be supervising the Standard Operating Procedure (SOP) of cargo evacuation between the Nigerian Railway Corporation (NRC) and the APM Terminal.

Mrs Ifeoma Ezedinma, Director, Regulatory Services, NSC made this known at the resumed evacuation of cargoes by rail in Lagos.

She said that to ensure that things move smoothly, the NRC and the APM Terminal would have to adhere to the SOP.

“There are many challenges in the port right now due to the shutdown which has resulted to congestion, but with this reintroduction of evacuation by rail, we believe it will go a long way in the port decongestion.

“The rail evacuation will reduce cost, the economy of demand and supply will also come to play as it will give room for our exports which are languishing on the road to gain access to the port,” she said.

Mr Jerry Oche, Railway District Manager, NRC, Lagos said that the new agreement for the evacuation of cargoes would work because of the SOP was binding on everyone and shippers council was standing as the supervisor.

“We have been on this for quite sometime, but the difference today is that we are starting with an SOP; in the past, all we were doing was that everyone was doing his or her own thing.

“Now we have an SOP binding on everyone and we have a shippers council as a supervisor; yes, we have done it in the past and I tell you this will work because this is different,” he said.

The district manager said that a train was made up of 19 wagons and each of the wagons could take 40ft or 20ft containers.

According to him, if they are doing 40ft it means 19 trucks off the road and if it is 20ft, that would take 38 trucks off the road.

Oche said that APMT had urged them to do four trips but they were starting with two.

”We want to start small and increase, but we believe we can do more than four trips,” he said.

Oche said that adopting the standard gauge would improve their operation, and when the standard gauge comes, the SOP would be on auto pilot, a seamless operation driving itself.

The External Affairs Manager, APM terminals, Daniel Odibe, said the new SOP would help bridge communication gap that they had experienced with NRC in the past.

“This is an important milestone being achieved here, and it is something we have always asked for, an SOP for receiving trains into the terminal and servicing them.

“It will definitely help in planning, bridge communication gap that we have experienced with NRC in the past and lead to more efficient operation with more cargo being handled through the rail tracks,” he said.

Odibe commended the Shippers’ Council for bringing together the NRC and APM terminals to bridge that communication gap.

“Right now, we have an SOP that will enable us receive the right containers coming to APMT without any hindrance and also enable us service the trains within the agreed timelines.

“We do not envisage more challenges with the commencement of the SOP and it will also create a platform for us to meet, review the past and seek ways to improve.

“What we proposed was for four trains in a day within every 12 hours but NRC advised we start with two and scale up as we go, assuring us that the process would be sustained,” he said.

Odiba said that their intention when they constructed the rail line in 2013 and connected it to the national line was to provide alternate mode of evacuation of cargoes to customers.

He said that the day’s event would increase the number of containers evacuated through the rail line, as it was coming at the best time, when the bridge was closed for repairs.

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Shehu Sani Criticizes World Bank Over Nigeria’s Economic Outlook

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Former Kaduna Central Senator Shehu Sani has criticized the World Bank for worsening Nigeria’s economic difficulties. In a post shared on X, Sani accused the institution of projecting that Nigeria’s hardship would extend for another 15 years before the country could reach a better economic future. He questioned how many Nigerians would be left to enjoy that future, and how many African nations the World Bank has successfully helped to prosperity.

Sani’s remarks follow the World Bank’s latest *Africa’s Pulse* report, which forecasts that the Nigerian Naira will be among the worst-performing currencies in Sub-Saharan Africa by August 2024. The report placed the Naira’s decline alongside that of the Ethiopian Birr and South Sudanese Pound.

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HIG: Building Trust and Driving Innovation in Nigeria’s Insurance Market

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Heirs Insurance Group (HIG) recently announced impressive financial results for the 2023 fiscal year, marking significant growth across all key metrics. The Group’s Gross Written Premium (GWP) surged by 59.3%, from N19.9 billion in 2022 to N31.7 billion in 2023. This remarkable performance underscores HIG’s resilience and operational efficiency, further solidifying its position as one of Nigeria’s fastest-growing insurance firms.

Heirs General Insurance (HGI) saw a 77% increase in GWP, reaching N12 billion in 2023. HGI’s profit before tax (PBT) also rose by 203%, reflecting the company’s effective cost management. Similarly, Heirs Life Assurance (HLA) reported a 71% GWP increase and a staggering 395% rise in PBT. Both companies have demonstrated a strong commitment to customer satisfaction, disbursing billions in claims.

Beyond financial success, HIG actively engages in corporate social responsibility (CSR) projects, contributing over N100 million to education, community development, and financial literacy. With plans for future expansion and innovation, HIG is poised to remain a key player in Nigeria’s evolving insurance market.

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Wike Urges Nigerians to Pay Taxes for Improved Social Services

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Federal Capital Territory (FCT) Minister, Nyesom Wike, has called on Nigerians to fulfill their tax obligations, emphasizing that government revenue is essential for delivering social services. Wike made this appeal during the inaugural Abuja Business and Investment Summit, held in Abuja on Wednesday.

Speaking on the summit’s theme, “Optimising Investment Through Partnerships,” Wike stressed the importance of collaboration to generate investment opportunities. He dismissed the misconception that the government does not need revenue, explaining that taxes are crucial for funding public services.

Wike reiterated that both investors and the government must benefit from such partnerships, ensuring that both parties “go home smiling” through a fair exchange of services and taxes.

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