By Sylvanus OBASI Stakeholders at the Maritime Reporters Association of Nigeria (MARAN) Breakfast Meeting held on Tuesday April 15, 2025 have described the ‘Nigeria-China Currency Swap’ as a welcome development that would ease trade between the two nations. The ‘Nigeria-China Currency SWAP Deal’ pursues the use of the currency of both countries, Naira and Renminbi…
By Sylvanus OBASI The Central Bank of Nigeria (CBN) has described the Nigeria-China currency swap deal as a transformative policy instrument that could significantly reduce shipping costs, enhance trade efficiency, and ease foreign exchange pressure in Nigeria’s maritime industry. Speaking at a stakeholders’ breakfast meeting organized by the Maritime Reporters’ Association of Nigeria (MARAN) in…
War risk insurance (WRI) is an additional surcharge imposed by international shipping companies on cargo bound for Nigeria. It comprises two key components: war risk liability, which covers people and goods aboard the vessel and is calculated based on the indemnity amount, and war risk hull, which covers the vessel itself and is determined by…
By Sylvanus OBASI The Nigerian Institute For Oceaonography and Marine Research (NIOMR) has been upgraded from its present status as National Centre of Excellence to a higher status known as Regional Centre of Excellence. This status upgrade was done by The West and Central African Council for Agricultural Research and Development (CORAF) after a 3…
…We Will Sustain Momentum – NIMASA DG. The United States Coast Guard has commended Nigeria, and the Nigerian Maritime Administration and Safety Agency (NIMASA), for what the Coast Guard described as considerable progress in the implementation of the International Ships and Ports Facility Security (ISPS) Code. This was made public by Joe Prince Larson…
By Sylvanus OBASI The Federal Government of Nigeria through its Ministry of Marine and Blue Economy, and the Nigerian Maritime Administration and Safety Agency (NIMASA), has continued its advocacy for the formal designation of seafarers as key workers. This, the government explained, would ensure legal protection, and a harmonized framework between the International Labour Organisation…
…We Must Prioritise Sustainable, Responsible Maritime Practices – Mobereola Nigeria’s Minister of Marine and Blue Economy, Adegboyega Oyetola has called on Maritime stakeholders across Africa to leverage the continent’s renewable energy potential to become a global leader in green shipping. The Minister made the remark at the maiden Africa Strategic Summit on Shipping Decarbonization, held…
By Sylvanus OBASI The Nigeria Customs Service (NCS) has intercepted a total of $1,154,900 (One Million, One Hundred and Fifty-Four Thousand, Nine Hundred US Dollars) and SR135,900 (One Hundred and Thirty-Five Thousand, Nine Hundred Saudi Riyals) undeclared foreign currency at the Mallam Aminu Kano International Airport (MAKIA). The seizure was made recently during a routine baggage check…
By Sylvanus OBASI The Managing Director of Nigerian Ports Authority (NPA), Dr Abubakar Dantsoho has stated that the Authority will not relent in supporting the rights and equality for all women and girls and to practically create opportunities for women and girls within and outside the NPA to be empowered to reach the best of…
By Sylvanus OBASI SIFAX Group has reaffirmed its commitment to gender inclusion and leadership advancement with a high-level International Women’s Day (IWD) 2025 event, themed “Beyond Glass Ceilings: Breaking Boundaries, Redefining Success”. Held at the Lagos Marriott Hotel, the event convened senior executives, industry professionals, and thought leaders to explore practical strategies for empowering women…
