THE ECONOMICS OF IMPORT TARIFF One of the most important issues in a country’s economy is trading; therefore, tariffs are most often discussed when talking about imported goods. A tariff is simply a tax or duty placed on an imported good by a domestic government. Tariffs are usually levied as a percentage of the declared value of the good, similar […]
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On Wednesday 2nd of October 2013, the Federal Executive Council (FEC) in Abuja approved the Automotive Industry Development Plan for the development of the nation’s automotive industry. The Plan is intended to facilitate the emergence of a transformed automotive industry with enough capacity to attract investment, become a major driver of economic growth and diversification, create job, engender local value […]
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DELIVERY, DEMURRAGE AND FORCE MAJEURE Deliveries and penalties: Haulage contracts should be explicit about the service given such as how the goods are received, delivered or passed on to another freight system. In some cases, this section of the agreement will also cover curtailment and assessments needed to ensure the quality of the delivery. Following from these, it will also […]
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It can be a very exciting time when a haulage firm has just ‘landed’ a heavy contract with a major company or blue-chip. Such times could result in all caution being thrown to the wind with the haulage business owner having his eyes mainly set on the expected returns. This may not be too healthy! Haulage contracts could be the […]
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Four days, four petrol tanker accidents in densely populated areas of Lagos and one major fatality! On the 8th of January, in Berger Suya, Apapa, Lagos at about 9.30-10pm, a petrol tanker fell, spilled its products and went up in flames leaving a trail of unimaginable loss of lives and properties. On the 9th of January, around 2am, another […]
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It was a sunny Wednesday afternoon sometime in the month of July when it happened. The truck driver had been away for close to 1week on a delivery job that had seen him haul a dead weight cargo of 40tons all the way from Lagos for delivery at Uyo in Akwa-Ibom State of Nigeria. Everything about the journey up till […]
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While in other climes, the issue of wheel separation seems to have been roundly addressed and reduced to the barest minimum, in our geographical space, that surely may not be our testimony. Rough estimates suggest that unplanned separations still occur at a rate of probably several per day. Exact numbers are hard to determine because most incidents go unreported. A […]
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