A civil rights organisation, Africa Network for Environment and Economic Justice, has raised the alarm that two companies based in Switzerland, Vitol and Trafigura, are allegedly engaged in the importation of dirty fuel to Nigeria. The ANEEJ advised the government to “work closely with the National Assembly and help to activate all environmental laws that will check the illegitimate business […]
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Given the scale of the challenges facing Nigeria over infrastructure and Babatunde Fashola’s unique position in which he has been saddled with fixing it on the three most critical fronts, it is understandable if the Minister of Power, Works and Housing sometimes seems overwhelmed. When he said at a town hall meeting in Lagos the other day that the Federal […]
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CFAO Equipment has introduced two new Fuso trucks to the Nigerian market, the medium (FA & FI) and heavy duty (FJ) models, which is expected to boost the competition and raised the standard in the nation’s truck market. Speaking at the event held in Lagos, the Managing Director, CFAO Motors Nigeria Limited, Mr. Thomas Pelletier, said, “Today’s milestone represents another […]
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The Major Oil Marketers Association of Nigeria (MOMAN) has faulted the claim by the Nigerian National Petroleum Corporation (NNPC) that it has a stock of 1.2 billion litres of petrol, saying such huge volume of products, equivalent to about 300 imported cargoes, could not be stored anywhere in the country! Earlier this month, the NNPC had stated that its downstream […]
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Chief Cyprian Arinze is Chairman/Chief Executive, Eagle Haulage Nigeria Limited, a major hauler. He speaks on the pros and cons of the haulage business in a recent interview: Is haulage business regulated? Haulage business is supposed to be a regulated business in the sense that there are bodies responsible for this regulation. We have the Nigerian Shippers’ Council; we have […]
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A Boost to Employment: Flying a Ruse! It was also stated that the new tariff will create employment almost immediately. Two employment generating windows were identified as possible spinoff of the new tariff regime. First, it is claimed that many multinational car manufacturers will, on account of the new tariff regime, be induced or practically fall over themselves to set […]
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A REVIEW OF THE NEW AUTOMOTIVE IMPORT TARIFF When the Minister of Trade and Industry stated that the new tariff regime will among other things “make imported cars more expensive thus, promoting the purchase of locally manufactured vehicles”, a number of issues readily come to mind. Some of the incontrovertible facts that flood the mind are adequately captured in the […]
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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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When buying Used Trucks is the Only Option: The Benefits of Buying a Used Truck Naturally, if you buy a used heavy or medium duty truck, the cost for the vehicle is significantly lower than if you were to pay for a brand new one. Additionally, with proper guidance, many used trucks that are put up for sale are […]
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