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Business

Lekki Deep Sea Port must be operational by 2022 – Amaechi

The Transport Minister has given a directive for the Lekki Deep Sea Port project at Ibeju Lekki to be completed in 2022.

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Amaechi proposes a capital budget of N205 billion for Ministry of Transportation in 2021, FG approves $3 billion Port Harcourt-Maiduguri railway and $462 million Bonny deep seaport, Banks to hold shipowners accountable for $200m CVFF disbursement. FG sets deadline for completion of Ibadan-Kano rail project, gives reason for delay 
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Mr. Rotimi Amaechi, Nigeria’s Minister of Transportation, has directed Dr. Magdalene Ajani, the Permanent Secretary of the Ministry, and the legal department to document an agreement with the Lekki Port LFTZ Enterprise Ltd., to ensure that the port becomes operational in 2022.

The Minister of Transportation gave this directive while inspecting the Lekki Deep Sea Port project at Ibeju Lekki, which is expected to be completed in 2022.

According to a news report by NAN, the agreement to commission the port in 2022 took place in Singapore. Hence, Mr. Amaechi wondered why the construction company was stating 2023 as the operational year of the port.

(READ MORE: Equipment needed for Deep Blue Project will be ready by March 2021 – Amaechi)

He reiterated that the sluggish pace of the construction of the port can not be fully attributed to the COVID-19 induced lockdown, although there had been hitches on the way. Thus, it is important that the project becomes operational by 2022.

Why this matters

Upon completion, the Lekki Deep Sea Port would become the first deep seaport in Nigeria.

It would have two container berths of 680 meters long and 16.5 meters water depth, making it Nigeria’s Deepest Sea Port in the making, in the heart of the Lagos Free Trade Zone.

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The port will also have the capacity to be berthed by fifth-generation container ships with a capacity of 18,000 TEU ship.

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(READ MORE: Lagos-Ibadan railway will be completed on or before January 2021 – Rotimi Amaechi )

Therefore, when completed it would take a lot of pressure off Apapa and Tin Can Island ports.

What they are saying

Commenting about the Lekki Deep Sea Project, Mr. Amachi said: “The contract for the facility was launched in March 2018, and as a layman, my views might not matter. However, we must tie them to a written agreement that it must be commissioned by President Muhammadu Buhari in 2022.

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“There are so many things tied to a port construction and many factors that can work against that date like force majeure issues or if anything goes wrong with the contractor. That is why we need to tie them to a verbal and written agreement that by 2022, Lekki port must become operational.”

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Omokolade Ajayi is a graduate of Economics, and a certificate holder of the CFA Institute’s Investment Foundation Program. He is a business analyst, and equity market researcher, with wealth of experience as a retail investor. He is a business owner and a stern advocate of Financial literacy, who believes in the huge economic prospect of the Nigerian Payment channels and Fintech space.

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Business

FG launches National Gender Steering Committee for Gender Policy in the agricultural sector

The policy document is a developmental strategy for poverty reduction and it is expected to empower small scale holder farmers who are predominately women.

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FG moves to reduce gender inequality in agriculture, De-risking the agricultural sector
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The Federal Government has announced its inauguration of a National Gender Steering Committee for the Implementation of the Gender Policy in the Agricultural sector, in a bid to offer equal access and gender-sensitive approaches towards food production.

This was disclosed by Permanent Secretary, Federal Ministry of Agriculture and Rural Development, Dr Ernest Umakhihe, who inaugurated the Committee on Wednesday in Abuja.

“The initiative will promote and ensure the adoption of gender-sensitive responsive approaches, plans and programmes in such a way that men and women will have equal access and control of productive resources,” he said.

He added that availability of the policy document was expected to address the vulnerability of women to biases in the Agriculture sector, integrate gender perspectives in National Planning, create more jobs and financial empowerment for women, citing that the National Gender Policy in Agriculture was consistent with the Global 2030 Agenda for Sustainable Development adopted by World Leaders at the United Nations Summit in New York, USA, in September 2015.

Director, Special Duties in the Ministry, Mrs Fausat Lawal also stated that “Women, small scale holder farmers constitute about 70-80% of the agriculture labour force and they produced the bulk of food for domestic consumption.”

She added that the policy document is a developmental strategy for poverty reduction and it is expected to empower small scale holder farmers who are predominately women.

What you should know 

  • Female unemployment rate in Nigeria as of Q4 2020 increased to 35.2% from 31.6% recorded in Q2 2020. This is according to the recent labour force report released by the National Bureau of Statistics (NBS).
  • A total of 61.63 million women were in the working population (15 – 64 years of age) as of Q4 2020 accounting for 50.5% of the total working population. Only 30.15 million of these women were willing and able to work, which represents about 43.3% of the total labour force in the period under review.

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Business

CAC discloses email addresses for manual submission of registration applications

The CAC disclosed that submissions through email would be pended till the deployment of the interface for submission on the CRP.

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CAC, Corporate Affairs Commission selects NIPOST as official courier partner
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The Corporate Affairs Commission (CAC) has announced the email address for customers and the public for manual submissions, despite closing the window of submission for some post-incorporation applications earlier this month.

The CAC disclosed this in a statement on Wednesday evening, adding that submission through emails would be pended till the deployment of the interface for submission on the CRP.

“The Commission wishes to inform the General Public and its Esteemed Customer that it shall in addition, continue to accept manual submission of the following post-incorporation application through the respective email address,” they said.

What you should know

Nairametrics reported earlier this month that the CAC had stated that it would continue to accept manual submissions in respect of some specific processes, despite the closure of the window on manual submission of registration applications, which took place on March 31, 2021.

They said, “The Commission shall continue to accept Manual Submission in respect of the processes listed below pending the conclusion of the interface for online submission under the Company Registration Portal. The processes are:

  1. Alteration of Memorandum & Article of Association
  2. Schedule 14 (Form of Statement to be filed by Banks, Insurance and deposit Finance Institution)
  3. Amendment of Constitution
  4. Bi-annual Statement for Incorporated Trustees.

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