Business
Maritime Workers Decry Delays in Port Concession License Renewals
The Maritime Workers Union of Nigeria (MWUN) has expressed frustration over the ongoing delays in renewing the port concession licenses for terminal operators at the nation’s seaports. MWUN President Adewale Adeyanju voiced these concerns during the 2024 Dockworkers Day event in Lagos, organized by the Shipping Correspondents Association of Nigeria (SCAN) in partnership with the union.
Adeyanju emphasized that the renewal of these licenses is long overdue, stressing that the delay is affecting operations at the ports. He urged the Federal Government to expedite the signing of the agreements to prevent further uncertainty and potential disruption to the jobs of maritime workers.
“We are calling for the immediate renewal of terminal operators’ licenses. The delays are creating anxiety among workers who are concerned about the stability of their employment. The situation must be resolved promptly to avoid any negative impact on port operations,” Adeyanju stated.
He also called on terminal operators to continue investing in the training of maritime workers and to ensure that qualified personnel are involved in their programs.
The event’s keynote address was delivered by the Minister for Marine and Blue Economy, Gboyega Oyetola, who highlighted the critical role dockworkers play in Nigeria’s maritime industry. Oyetola emphasized that the maritime sector is vital for the country’s socio-economic development and that the government is committed to maximizing the potential of the marine and blue economy sectors to create jobs, boost revenue, and drive sustainable development.
“The maritime sector is pivotal to Nigeria’s economic growth. This administration is dedicated to advancing the marine and blue economy sectors to enhance productivity and create more job opportunities. We will continue to work closely with the private sector to address infrastructural gaps and improve service delivery in the maritime industry,” Oyetola said.
The Executive Secretary of the Nigerian Shippers’ Council (NSC), Barr. Pius Akutah, also addressed the event, urging terminal operators to prioritize the welfare of dockworkers. He noted that dockworkers are essential to the smooth operation of ports and the success of national trade, which significantly contributes to Nigeria’s GDP and attracts foreign investment.
Chairman of the Seaport Terminal Operators Association of Nigeria (STOAN), Princess Vicky Haastrup, praised dockworkers for their expertise and dedication. She acknowledged the positive impact of Nigeria’s port concession program, which she described as transformative, enhancing working conditions, safety standards, and job security for dockworkers.
The event underscored the importance of resolving the license renewal issue to maintain stability and progress in the maritime sector.
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.
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.
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.
Van Vicker Celebrates 21st Wedding Anniversary: “I Have No Regrets”
Davido Declares ‘Timeless’ His Best Album
‘Adire’ Secures Four Nominations at the Best of Nollywood Awards
-
Business14 hours agoOkpella Monarch: Obaseki Ratified Kingmakers Decision, End 5years leadership Vacuum
-
Banking10 hours agoFree Food Saga: Akpabio quoted out of context-CSO
-
Foreign15 hours agoSci-tech innovation fuels China’s high-quality development
-
Entertainment7 hours agoDavido Declares ‘Timeless’ His Best Album
-
Entertainment7 hours ago‘Adire’ Secures Four Nominations at the Best of Nollywood Awards
-
Business7 hours agoWike Urges Nigerians to Pay Taxes for Improved Social Services
-
Foreign9 hours agoQinling Mountains better safeguarded with comprehensive digital platform
-
Foreign9 hours agoExpressway service station in Shandong achieves carbon neutrality