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Expert Petitions President Tinubu Over Unresolved 35-Day Demurrage Waiver from COVID-19 Lockdown

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The President of the National Council of Managing Directors of Licensed Customs Agents (NCMDLCA), Mr. Lucky Amiwero, has petitioned President Bola Ahmed Tinubu regarding the failure of terminal operators and shipping companies to refund a 35-day demurrage waiver that was approved by the presidency during the 2020 COVID-19 lockdown. Despite the presidential directive aimed at alleviating the financial strain on importers and customs agents during the lockdown, service providers have allegedly refused to return the funds, leaving affected parties in a prolonged state of frustration.

Details of the Petition:
In the petition, dated August 28, 2024, Amiwero highlights how, four years after the waiver was granted, importers and their agents are still struggling to recover the wrongly charged demurrage fees. The waiver was part of a relief package communicated by the Presidency on April 6, 2020, which directed terminal operators and shipping companies to waive rent and demurrage charges for 35 days. This period coincided with the severe restrictions imposed due to the COVID-19 pandemic, which significantly disrupted port activities and customs operations.

Challenges Faced by Licensed Customs Agents:
Amiwero emphasized that the Licensed Customs Agents (LCAs) were severely impacted by the lockdown, as they were unable to access ports, bonded terminals, and other critical regulatory bodies such as NAFDAC and the Standards Organisation of Nigeria (SON). The closure of banks and the lack of transportation further hindered their ability to facilitate cargo clearance, making the demurrage waiver essential under the principle of force majeure.

Accusations Against NPA and Service Providers:
The petition accuses the Nigerian Ports Authority (NPA) of colluding with terminal operators and shipping companies to unlawfully collect the waiver fees, with the NPA allegedly backdating the waiver period to avoid issuing refunds. Despite ongoing correspondence between the NCMDLCA and the NPA, there has been no progress in resolving the issue. Amiwero states that detailed records of invoices showing the amounts wrongfully paid by importers and LCAs were submitted to the NPA in 2020, but the refund process remains stalled due to non-compliance by the terminal operators.

Conclusion:
Amiwero’s petition to President Tinubu underscores the ongoing financial challenges faced by stakeholders in Nigeria’s maritime industry, as they continue to seek resolution for the unresolved demurrage fees from the COVID-19 lockdown period. The situation highlights broader concerns about compliance with federal directives and the need for accountability within the maritime sector.

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Business

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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Business

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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