National Economy
Thursday, August 14, 2025
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
Read News
National Economy
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
National Economy
No Result
View All Result
Home News

‘Dangote Refinery Won’t Breach Cabotage Act’

by Yusuf Babalola
2 years ago
in News
Reading Time: 2 mins read
'Dangote Refinery

'Dangote Refinery

Share on FacebookShare on TwitterShare on Telegram

 

Dangote Port Operations has assured the Nigerian Marítime Administration and Safety Agency (NIMASA) that the refinery will not be in a breach of the Cabotage act.

This assurance was given by the managing director, Dangote Port Operations, Akin Omole, during a visit to the director general of NIMASA, Dr Bashir Jamoh, in Lagos.

While speaking, Omole said, “We talked about business being done in a way that there is no obstruction, no delay. In shipping, a day’s delay is a huge cost, we have an average of over $50,000 demurrage on a ship per day, so we want to be sure that these kinds of delays are not experienced.

You May Like

NLC Wants FG To Sell Crude To Dangote In Naira

BREAKING: Federal Gov’t To Review KWAM 1 No-Fly Ban, Withdraw Criminal Complaints

“All bottlenecks, hindrances that will cause the delay will be addressed jointly and collaboratively with our team and NIMASA team,” he stated.

Responding, the DG of NIMASA, Dr Jamoh, said the Agency is committed to ensuring that the business of the Dangote Ports and refinery are not hindered by the implementation of the regulatory instrument under the provisions of the Cabotage law.

According to the DG, the Agency will work with Dangote Ports to also ensure the Group does not breach any regulation of the Federal Government as regards Wet Cargo affreightment.

However, both parties agreed to set up a working committee to address the operational concerns at the refinery within 14 days.

“I suggested a joint committee with membership from NIMASA and Dangote to sit down and look at issues objectively. Our priority is to ensure regulatory implementation does not impede the operations of Dangote Ports and by extension, Dangote Refinery.

Though the coming on stream of the Dangote Refinery would lead to a drop in NIMASA revenue, because ships importing petroleum products would reduce drastically thus reducing the 3% freight levy collected by the Agency. However, Nigerian economic growth and long term benefit to the Nigerian masses is far better than immediate revenue for NIMASA,” he said.

Tags: 'Dangote Refinery Won't Breach Cabotage Act'
ShareTweetShare
Previous Post

Expert Seeks Financial Symbiosis Between Industries, Academia In Nigeria

Next Post

SERAP Demands Accountability For Over N40trn LGA Allocations From Govs, Wike

ANOTHER GOOD READ

NLC Wants FG To Sell Crude To Dangote In Naira
News

NLC Wants FG To Sell Crude To Dangote In Naira

4 hours ago
JUST-IN: NCAA To Ban Fuji Star KWAM 1 From Flying In Nigeria
Aviation

BREAKING: Federal Gov’t To Review KWAM 1 No-Fly Ban, Withdraw Criminal Complaints

15 hours ago
Police Arrest 2 Suspected Oil Thieves In Akwa Ibom
News

Police Arrest 2 Suspected Oil Thieves In Akwa Ibom

1 day ago
Jonathan Unveils Azikel’s New Helicopters For Niger Delta Operations
Aviation

Jonathan Unveils Azikel’s New Helicopters For Niger Delta Operations

1 day ago
Tinubu Approves N4.2bn For 158 TETFund Research Projects
News

Tinubu Reshuffles HYPREP Council, Board to Boost Ogoni Cleanup

1 day ago
News

FCTA Clears Illegal Structures, Traders From Abuja UTC Area

1 day ago
Next Post
SERAP Demands Accountability For Over N40trn LGA Allocations From Govs, Wike

SERAP Demands Accountability For Over N40trn LGA Allocations From Govs, Wike

Most Recent

NLC Wants FG To Sell Crude To Dangote In Naira

NLC Wants FG To Sell Crude To Dangote In Naira

August 13, 2025
SEREC Backs Customs’ Digital Drive To Tackle Cartels, Smuggling Customs

Nigeria’s Single Trade Platform Now In Integration Phase

August 13, 2025
Tinubu Plans First National Industrial Manpower Policy For Nigeria

Tinubu Plans First National Industrial Manpower Policy For Nigeria

August 13, 2025
Tinubu Reiterates Commitment To MSME Growth

Tinubu Reiterates Commitment To MSME Growth

August 13, 2025
Only 2 States Generated Enough Revenue To Cover Expenses–BudgIT

C’River Assembly Approves N642bn Supplementary Budget

August 13, 2025
Subsidy Removal: Tinubu Kept His Campaign Promise

Subsidy Removal: Tinubu Kept His Campaign Promise

August 13, 2025
Investments In Circular Economy Will Increase Forex Earnings – NESREA

Investments In Circular Economy Will Increase Forex Earnings – NESREA

August 13, 2025
Google Introduces Initiative To Equip 1,000 Nigerian Developers

Google Introduces Initiative To Equip 1,000 Nigerian Developers

August 13, 2025
Advertise with us

© 2024 | National Economy

No Result
View All Result
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy

© 2024 | National Economy