Pinnacle Time News

The Nigeria Customs Service, Federal Operations Unit Zone 'A' Ikeja has apprehended a truck load of Codeine Cough Syrup 100ml, each containing 200 bottles. The seizure which is in line with the Federal Government present ban on the importation of restricted pharnaceuticals including cough syrups containing codeine marked the first major offensive by the service in third quarter of the year 2018. This is even as the flagship FOU under the watch of Comptroller Mohammed Garba has realised the total sum of One Billion, One Hundred Twenty Million, Seven Hundred and Forteen Thousand, Three Hundred and Thirty Eight Naira, Twelve Kobo (N1,120,714,338,12) in Duty Paid Value from various seized contraband items during the period under review. The Unit Controller, Compt. Mohammed Garba who briefed the press this morning said the seized items include 21 posh vehicles, 9,503 bags of foreign parboiled rice and 436 jerrycans of vegetable oil. The others include 333 cartons of imported fr...

‘We have record of crude production volume’- DPR boss Federal Government of Nigeria has debunked the enduring allegations in certain quarters of its inability to have a record of the volume of crude oil produced by the nation on daily basis, as a benchmark for maintaining an accurate data and planning statistics of daily production as well as records of crude exports carried out via International Oil Companies (IOCs). The absence of crude production statistics mainly by the Nigerian National Petroleum Corporation (NNPC) was however faulted penultimate week by the Director of the Department of Petroleum Resources (DPR), Mr. Mordecai Baba Ladan, who claimed DPR as an arm of the Ministry of Petroleum has up to date daily crude production records, and challenged those peddling such speculations to desist. The DPR disclosed that it is committed to the Federal Government policy on ending gas flaring and raising the country’s oil reserve by as much as 40 billion barrels by 2020; while it is ...

Secures major collabo with MAN, others Eyes N17bn annual revenue generation The Nigerian Shippers’ Council (NCS) has hinted of plans to reintroduce the contentious Cargo Tracking Note (CTN) policy for all imports into the country, which is expected to generate a whooping N17billion in annual revenue into government coffers. To achieve a hitch free policy drive, the Council has brought into the negotiation table all critical stakeholders, even as the Manufacturers Association of Nigeria (MAN) is believed to have wholeheartedly identified with the present effort, having cleared all its doubts about the sincere intention of government in this regard, in addition to firm assurances that the cost implication of the new policy initiative will be negligible with no focus on profit making other than achieving a smooth operation of the framework. The Executive Secretary/CEO of NSC, Barr. Hassan Bello, told reporters in Lagos last week that the reintroduction became inevitable as the only sure ...

Expands National Fleet Committee In anticipation of launching the proposed National Fleet in as little a time it could take, the Federal Government has reviewed its transportation template and has opted for Cost Insurance and Freight (CIF) as against the earlier regime of Free-On-Board (FOB), the Executive Secretary/CEO of the Nigerian Shippers’ Council (NSC), Barr. Hassan Bello has disclosed. This is even as the Federal Government has expanded the National Fleet Implementation Committee with the inclusion of the Federal Ministry of Finance, the Nigerian National Petroleum Corporation and Nigerian Import and Export Bank (NEXIM), in what is believed to be government quest to have a guaranteed, timely and robust strategic recommendation to kick start the new national carrier. The initiative which is championed by the Nigerian Maritime Administration and Safety Agency (NIMASA) in collaboration with the Federal Ministry of Transportation close to two years has sadly failed to materialize o...

Eguono Odjegba Effedua Presents Work-in-Progress Report Card When Commodore Duja Effedua (Rtd) was appointed in September 2017as the Rector, Maritime Academy of Nigeria (MAN) Oron, along a six-man Interim Management Committee (IMC) with the mandate to restructure and reposition the Academy, and bring it at par with other maritime academies operating at international standards, he accepted the job with a huge sense of patriotism. Having gone around to see and to identify the areas that required urgent intervention in appreciation of the task ahead, Effedua told our reporter matter of fact, that because of the criticality of the assignment, every seconds count and as such, he was determined to work at a speed necessary to clean up the rots in a timely manner that would also make it possible to reconnect MAN with its mission objective in as little a time as it takes, within the time frame allocated to him. “I am not a politician and I did not lobby to be appointed. T...

NPA boss snubbed minister’s quick fix directive Contrary to claims that the Nigerian ports Authority (NPA) is leading in the urgent quest to fix the failed Lagos ports access roads, free it from the over six years gridlock and return to cost efficient port trade and services, the leadership of the authority may have engaged in direct plot to abort quick resolution initiatives recommended by a world Bank export consultant, NAFIT, and approved by the Minister of Transportation, Hon. Chubuike Amaechi for immediate implementation. The consultant who was reportedly engaged by the FG to study and recommend solution to solve the traffic problem was believed to have recommended an Intelligence Traffic Management System (ITMS) which consist of a number of realignment in the design of the Apapa Business District traffic superstructure, reduction of human and vehicular access to ports and tank farms through electronics call-up system and the establishment of trucks parking terminals for which 4...

Effort by the present government to resuscitate the economy through efficient fiscal policy implementation remains high and vibrant, despite that unscrupulous elements remain hell bent in thwarting all measures put in place to refloat the economy, the Customs Area Controller of Ogun Command, Comptroller Michael Agbara has disclosed. Nevertheless this criminal sabotage, the government under President Muhammadu Buhari remains unrelenting in its bid to continue to foil, frustrate and deplete these criminals wall chest of funds and antics, the harder they come. To this end, the Ogun customs area command through renewed strategies has continued to achieve increased blockage of leakages of prohibited imported items and smugglings of other trade goods, adjudged to be in violation of import regulations. A source close to the CAC`s office at Idiroko who declined to be mentioned in print, said flash points within the command has received greater policing that is believed to have blocked seizab...