Post by Trade facilitator on Oct 20, 2021 14:39:59 GMT 1
The Federal Government Of Nigeria (FGN) Removes Import Duty On Ships And Its Spare Parts To Encourage Nigerians To Invest In Shipping Business
The Federal Government of Nigeria (FGN) has removed import duty on importation of ships and its spare parts into the country. This was according to thenigerianmaritimenews.com.
The Director General of Nigerian Maritime Administration and Safety (NIMASA), Dr. Bashir Jamoh revealed that the Federal Government has removed the import duty on the importation of ships and its spare parts at the Nigerian International Maritime Summit.
Dr. Jamoh also said that the presidency has heeded to the industry’s request for incentives to enhance the national local shipping capacity. The Ministry of Transportation would officially announce the approval in due course.
The Director General said that when he assumed office as the DG of NIMASA, that he deliberately worked on the incentives for the Maritime sector, and that one of them is fiscal incentives for the shipping industry.
He said “Today the incentive has been granted, I have the memo with me but we are still waiting for the announcement from the transport ministry, which will happen very soon.”
Jamoh said that the fiscal policy was long overdue, and that the Federal Government had made similar incentives for rail transport, manufacturing, airline operations among other sectors.
The Chairperson of the NIMS Advisory Board, Mrs. Mfon Usoro, said that a holistic National Maritime Strategy was imperative for the growth of the sector.
She said “How can we have Nigerians that own vessels but choose to use the shipping registries of other nations?”
In the same vein, a former Director General of NIMASA, Mr. Temisan Omatseye, added that there was a need for more conscious effort towards stripping the nation of sea blindness through deliberate national orientation programmes to ensure that all citizenry truly understood the maritime sector and what it could offer the nation.
A former Chief Executive Officer of the South African Maritime Safety Authority, Commander Tsietsi Mokhele, said “Asian nations are leading various aspects of shipping as the Philippines lead in Seafaring, Singapore a hub for connectivity via ports, while Japan and China are among the top three ship owning nations in the world”.
Up till now, Nigeria has not been able to secure a seat at the International Maritime Organization (IMO) Council despite the country being almost surrounded by water.
Nigeria has continued to under develop its shipping industry through poor infrastructure, pollution, unease of doing business at the ports, lack of synergy between government agencies and the foreign trade partners.
These are the factors working against the country’s chance of securing a seat at The International Maritime Organization (IMO) Council.
The country’s inability to fully implement some of the IMO conventions and instruments continues to affect its return to the organization.
Nigeria will be in the race with 27 other countries whose nations are faring well for the 2022 to 2023 IMO council category C election, which will hold during the IMO assembly session from December, 6-15, 2021.
Maritime law in Nigeria simply comprises of a body of laws, legal rules, principles and concepts that are concerned with the business of transportation of goods and passengers by water, use of marine resources, commerce and navigation.
The following are laws that govern the maritime practices in Nigeria:
The Admiralty Jurisdiction Act 1991
The Merchant Shipping Act 2007
The Nigerian maritime Administration and Safety Agency Act 2007 (the NIMASA) Act
The Coastal and Inland Shipping (Cabotage) Act No. 5, 2003
However, the Constitution of the Federal Republic of Nigeria 1999 (as amended) also vests the exclusive jurisdiction of the Federal High Court to determine admiralty matters whether civil or criminal in Nigeria.
The members of this forum believe that time has come for Nigeria to start thinking about local ship building apart from importation of fully built ships from other countries.
The country has the human resources, the maritime environment and all the things it takes to succeed in the shipping industry, the only thing remaining is the political and economic will to do it.
Stay with us as we bring to you important matters in the shipping and maritime industry in Nigeria.
The Federal Government of Nigeria (FGN) has removed import duty on importation of ships and its spare parts into the country. This was according to thenigerianmaritimenews.com.
The Director General of Nigerian Maritime Administration and Safety (NIMASA), Dr. Bashir Jamoh revealed that the Federal Government has removed the import duty on the importation of ships and its spare parts at the Nigerian International Maritime Summit.
Dr. Jamoh also said that the presidency has heeded to the industry’s request for incentives to enhance the national local shipping capacity. The Ministry of Transportation would officially announce the approval in due course.
The Director General said that when he assumed office as the DG of NIMASA, that he deliberately worked on the incentives for the Maritime sector, and that one of them is fiscal incentives for the shipping industry.
He said “Today the incentive has been granted, I have the memo with me but we are still waiting for the announcement from the transport ministry, which will happen very soon.”
Jamoh said that the fiscal policy was long overdue, and that the Federal Government had made similar incentives for rail transport, manufacturing, airline operations among other sectors.
The Chairperson of the NIMS Advisory Board, Mrs. Mfon Usoro, said that a holistic National Maritime Strategy was imperative for the growth of the sector.
She said “How can we have Nigerians that own vessels but choose to use the shipping registries of other nations?”
In the same vein, a former Director General of NIMASA, Mr. Temisan Omatseye, added that there was a need for more conscious effort towards stripping the nation of sea blindness through deliberate national orientation programmes to ensure that all citizenry truly understood the maritime sector and what it could offer the nation.
A former Chief Executive Officer of the South African Maritime Safety Authority, Commander Tsietsi Mokhele, said “Asian nations are leading various aspects of shipping as the Philippines lead in Seafaring, Singapore a hub for connectivity via ports, while Japan and China are among the top three ship owning nations in the world”.
Up till now, Nigeria has not been able to secure a seat at the International Maritime Organization (IMO) Council despite the country being almost surrounded by water.
Nigeria has continued to under develop its shipping industry through poor infrastructure, pollution, unease of doing business at the ports, lack of synergy between government agencies and the foreign trade partners.
These are the factors working against the country’s chance of securing a seat at The International Maritime Organization (IMO) Council.
The country’s inability to fully implement some of the IMO conventions and instruments continues to affect its return to the organization.
Nigeria will be in the race with 27 other countries whose nations are faring well for the 2022 to 2023 IMO council category C election, which will hold during the IMO assembly session from December, 6-15, 2021.
Maritime law in Nigeria simply comprises of a body of laws, legal rules, principles and concepts that are concerned with the business of transportation of goods and passengers by water, use of marine resources, commerce and navigation.
The following are laws that govern the maritime practices in Nigeria:
The Admiralty Jurisdiction Act 1991
The Merchant Shipping Act 2007
The Nigerian maritime Administration and Safety Agency Act 2007 (the NIMASA) Act
The Coastal and Inland Shipping (Cabotage) Act No. 5, 2003
However, the Constitution of the Federal Republic of Nigeria 1999 (as amended) also vests the exclusive jurisdiction of the Federal High Court to determine admiralty matters whether civil or criminal in Nigeria.
The members of this forum believe that time has come for Nigeria to start thinking about local ship building apart from importation of fully built ships from other countries.
The country has the human resources, the maritime environment and all the things it takes to succeed in the shipping industry, the only thing remaining is the political and economic will to do it.
Stay with us as we bring to you important matters in the shipping and maritime industry in Nigeria.
