Maritime Nigeria

Main Menu

  • Home
  • News
  • Interviews
  • Maritime Info
  • Photo Gallery
  • Fact
  • Profiles

logo

Header Banner

Maritime Nigeria

  • Home
  • News
    • "We are Alert, Watching, Taking Notes and Keeping Records"-AIG Maritime

      May 6, 2025
      0
    • Nigeria Customs Launches Form M On Indigenous Platform

      May 6, 2025
      0
    • Maritime Police Boss Celebrate Workers

      May 1, 2025
      0
    • Oyetola Celebrates Maritime Workers on 2025 Workers’ Day

      May 1, 2025
      0
    • Custom Intercept Drones, Fake Drugs, Renovate Public School In Lagos

      May 1, 2025
      0
    • NIGERIA ENDORSES AMENDMENTS TO EIGHT ILO CODES

      Apr 29, 2025
      0
    • NLNG Launches VIBES For Entrepreneurial Community Development

      Apr 29, 2025
      0
    • Maritime Police Assures Safety As Dockworkers Protest

      Apr 28, 2025
      0
    • OTC 2025: Tanatita Upscale Security Efforts, Seek Collaboration and Partnerships

      Apr 28, 2025
      0
  • Interviews
    • Nigeria Takes Leadership Of MOWCA

      Nov 18, 2021
      0
    • APM Participates in UK Trade Expo

      Oct 31, 2021
      0
    • Reps Seek Admission at MAN

      Dec 7, 2020
      0
    • NIMASA URGE SHIP OWNERS TO RENEW CABOTAGE LICENSES

      Oct 5, 2020
      0
    • FG Sacks Aboloma As NAIC Gets New EDs

      Aug 28, 2020
      0
    • Britain Celebrate Nigerian In Covid Efforts

      Jul 26, 2020
      0
    • Zuckerberg Backs Trump Against Twitter

      May 28, 2020
      0
    • NAFDAC DG Sheds Light On Chloroquine, Herbals, Masks and Covid19

      May 12, 2020
      0
    • Reps Threaten MDAs

      Feb 24, 2020
      0
  • Maritime Info
    • 2023 POP: Minister Task Cadets On Blue Economy

      Dec 15, 2023
      0
    • Rector, Trainees Excited, Laud FG On Modern Academy

      Jan 26, 2023
      0
    • Buhari Redeploys Minister As NPA, NIMASA, MAN, Others Get New Boards

      Apr 7, 2022
      0
    • World Bank Endorse Nigerian Ports, Partners Navy On Capacity Building

      Mar 19, 2022
      0
    • NIMASA Commend Nigerian Navy, Reassures On Floating Dock

      Feb 9, 2022
      0
    • MAN Unveils Lighthouse For Training of Cadets

      Jan 27, 2022
      0
    • shipping

      Singapore Strait Dangerous To Shipping-ReCAAP

      Jan 24, 2022
      0
    • Lekki Deep Sea Port Will Increase Port Efficiency-Amaechi

      Jan 24, 2022
      0
    • Fair Competition: NSC Partners FCCPC For Effectiveness

      Jan 21, 2022
      0
  • Photo Gallery
    • SERAP Calls for Probe of Entire Privatization Processes 1999-2011

      Dec 4, 2017
      0
    • IMO Election: South Africa, Kenya, Liberia, Morroco and Egypt Make Category C

      Dec 2, 2017
      0
    • Maersk Ship on Fire as Coy Launches Six Container Lifting Tech

      Nov 2, 2016
      0
    • Captured Seafarers Languish In Captivity without Ransom

      Nov 1, 2016
      0
    • Niger Delta: Militants Ask FG to Include Former Agitators in Negotiations

      Nov 1, 2016
      0
    • Self-Audit: NIMASA Set to Review 3% Freight Charge

      Nov 1, 2016
      0
    • Recession: Japanese Shipping Companies to Merge

      Oct 31, 2016
      0
    • NSC Partners ICS on Capacity Building

      Oct 31, 2016
      0
    • AGAIN, APAPA CUSTOMS SURPASS MONTHLY TARGET WITH N33B COLLECTION

      Oct 5, 2016
      0
  • Fact
    • Maritime Police Boss Celebrate Workers

      May 1, 2025
      0
    • “VIN Is A Trade Tool, Not Punitive”-Customs

      Mar 2, 2022
      0
    • Blackmailers, False Publishers and Their Agents: Court Clears Rector

      Feb 18, 2022
      0
    • MAN Unveils Lighthouse For Training of Cadets

      Jan 27, 2022
      0
    • "APM Terminals Is Beyond Moving Boxes Around"-Laursen

      Jan 24, 2022
      0
    • MWUN: Welfare, Safety Our Priority-Adeyanju

      Dec 27, 2021
      0
    • Reversing the Trend: Koko Breaks Record at NPA

      Dec 24, 2021
      0
    • Minister Demands More From MAN At Passing Out Parade

      Dec 20, 2021
      0
    • MARITIME NIGERIA TASK NIMASA ON MARITIME DEVELOPMENT

      Dec 15, 2021
      0
  • Profiles
    • CMA CGM Brings AI Onboard

      Jun 5, 2018
      0
    • Customs Notify 577 Officers of Retirement by Eguono Odjegba

      Jan 12, 2018
      0
    • Over 100 Persons Feared Dead in Mediterranean Ship Wreck

      Nov 3, 2016
      0
    • Ballast Water: Panama Signs Up

      Oct 24, 2016
      0
    • Ist Half Report: Customs generate N385.7bn revenue

      Aug 15, 2016
      0
    • Minister/MD Speeches at the Launch of NPA's CCCIS

      Jul 23, 2016
      0
    • Face off Imminent as Dakuku Warn IOCs to Sit Up or Stay ...

      Jul 22, 2016
      0
    • Hadiza, Welcome to NPA

      Jul 16, 2016
      0
    • Habib Abdullahi Sacked Again from NPA

      Jul 12, 2016
      0
  • “We are Alert, Watching, Taking Notes and Keeping Records”-AIG Maritime

  • Nigeria Customs Launches Form M On Indigenous Platform

  • Maritime Police Boss Celebrate Workers

  • Oyetola Celebrates Maritime Workers on 2025 Workers’ Day

  • Custom Intercept Drones, Fake Drugs, Renovate Public School In Lagos

FeaturedMaritime InfoNews
Home›Featured›NIMASA REVIEWS CRUDE CARRIAGE TERMS WITH NNPC

NIMASA REVIEWS CRUDE CARRIAGE TERMS WITH NNPC

By Editor
Sep 6, 2020
993
0
Share:

Moves to Change affreightment of Nigerian crude oil from FOB to CIF.

DG NIMASA, Dr. Bashir Jamoh making a presentation to the Group General Manager, Crude Oil Marketing Division, NNPC, Sir Billy Okoye during a courtesy visit by NNPC to the Agency in Lagos .

In a bid to change and boost national economy to the benefit of Nigerians, the Nigerian Maritime Administration and Safety Agency (NIMASA) has revived efforts to change the Terms of Trade for the affreightment of Nigerian crude oil from Free on Board (FOB) to Cost Insurance and Freight (CIF).

Director-General of NIMASA, Dr. Bashir Jamoh, disclosed this in Lagos, when he received a delegation from the Nigerian National Petroleum Corporation (NNPC) led by the newly appointed Group General Manager, Crude Oil Marketing Division, NNPC, Sir Billy Okoye.

Jamoh, who had earlier met with the Group Managing Director of NNPC, Mele Kyari, at the corporation’s headquarters in Abuja, expressed NIMASA’s appreciation of NNPC for accommodating the Agency’s interests in transactions where the maritime regulator relied on data from the national oil company.

The NIMASA DG also revealed that the Agency was working towards the implementation of a National Maritime Security Strategy to improve security in Nigerian waters and reduce the cost of shipping.

In his words “Since 2018, NIMASA has championed moves for a change in the terms of trade with regard to transportation of Nigerian crude oil, from FOB to CIF to ensure greater benefits for the country from its oil resources,” the Director-General stated. “A technical committee involving NIMASA, NNPC, and other stakeholders would be set up to develop a template for the desired change, with workable timelines,”

Under FOB trade terms, Nigeria has no reasonable control over the delivery of its crude oil as regards carriage, insurance, and other ancillary services. But under the CIF arrangement, the country maintains ample control over the distribution of its oil, which can be leveraged to enhance the competitive advantage of indigenous operators.

Commended the synergy between NNPC and NIMASA, Jamoh said, “Seventy per cent of the Agency’s revenue comes through the sale of crude. Thus, cooperation between NNPC and NNPC cannot be over-emphasised.  The Maritime Intelligence Unit recently established by the Agency is part of efforts to ensure a proactive approach to security in our waters. The focus is to try to nip maritime attacks in the bud by tracking the criminals from the pre-planning and planning stages. The ultimate aim is to develop a National Maritime Security Strategy that would help to minimise the cost of insecurity, which NNPC bears on behalf of the country, in the shipment of Nigerian crude.”

Dr. Jamoh thanked the Management of NNPC for granting the NIMASA’s requests and generous pledge of cooperation during his recent visit to the corporation and prayed for the continuation of such mutual understanding.

“We appreciate the NNPC for accommodating NIMASA in its processes. We do not delay vessels in the search for information on them because of the confidence we have in NNPC’s capacity to readily supply such information.” Jamoh said

The Director-General appealed for more local content in the transportation of the country’s crude in line with the Cabotage regime.

On his part, Okoye declared that NIMASA was a “critical stakeholder in the business of crude oil sale.” He said his goal was to get the two agencies of government interfacing more closely with each other to resolve challenges and ensure seamless movement of crude and petroleum products in the country.

Share this:

  • Click to share on Twitter (Opens in new window)
  • Click to share on Facebook (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • More
  • Click to share on WhatsApp (Opens in new window)
  • Click to share on Telegram (Opens in new window)

Related

Previous Article

MAN UNVEILS THREE YEAR SCORECARD

Next Article

CMA CGM SUSPENDS PEAK SEASON SURCHARGE

0
Shares
  • 0
  • +
  • 0
  • 0
  • 0
  • 0

Related articles More from author

  • InterviewsMaritime InfoNews

    NIMASA URGE SHIP OWNERS TO RENEW CABOTAGE LICENSES

    Oct 5, 2020
    By Editor
  • News

    STCW: Which is Better 6/6 or 8/8 Watch keeping Schedule?

    May 25, 2017
    By Editor
  • SON
    FeaturedNews

    SON IMPOUND USED TYRES, INSISTS ON ENFORCEMENT

    Apr 24, 2021
    By Editor
  • News

    Capacity Building: Tin Can Customs Command Prepares For NICIS 11

    Aug 3, 2017
    By Editor
  • News

    Tax Amnesty: FG Targets $1b From Nigerians

    Nov 30, 2017
    By Editor
  • News

    Safer Shipping: Rolls-Royce Launches IA

    Mar 6, 2018
    By Editor

Leave a Reply Cancel reply

  • InterviewsNews

    IPAC Raises Alarm on 2019 Polls

  • Maritime InfoNews

    NPA Partners FRSC to Ensure Safety

  • FeaturedMaritime InfoNews

    Maritime Education and Training: MAN Takes Training To Next Level

Looking For Something?

Read From

  • Agriculture
  • Customs Operations
  • Fact
  • Featured
  • Interviews
  • Maritime Info
  • News
  • One Question
  • Photo Gallery
  • Profiles
  • sports

Just In

News

“We are Alert, Watching, Taking Notes and Keeping Records”-AIG Maritime

Charge Maritime Stakeholders to be Law Abiding   The Assistant Inspector-General of Police in charge of Nigeria’s Maritime Police Command, Lagos, AIG Musa Yusuf Garba, psc(+), IIPS, PSPS, has reiterated ...
  • Nigeria Customs Launches Form M On Indigenous Platform

    By Editor
    May 6, 2025
  • Maritime Police Boss Celebrate Workers

    By Editor
    May 1, 2025
  • Oyetola Celebrates Maritime Workers on 2025 Workers’ Day

    By Editor
    May 1, 2025
  • Custom Intercept Drones, Fake Drugs, Renovate Public School In Lagos

    By Editor
    May 1, 2025
  • Home
  • About Us
  • Contact Us
© 2013 Maritime Nigeria | All Rights Reserved