BusinessDay

Five things to know to start your Wednesday

FG urges speedy dispensation of maritime matters by courts

Sen. Gbemisola Saraki, the Minister of State for Transportation, who addressed an audience at the International Maritime Seminar for Judges in Abuja on Tuesday, called for a speedy dispensation of maritime matters by the courts.

She believes that such developments in the maritime sector will not only enhance the industry’s credibility but drive growth in the sector.

According to NAN, Saraki, who was represented by the ministry’s Director of Procurement, Hussein Adamu, also commended the sustained partnership between the Nigerian Shippers Council (NSC) and the National Judicial Institute (NJI).

“This strategic partnership stemmed from the recognition of the need to specially furnish our judicial officers with the requisite knowledge to assist them in facilitating the expeditious dispensation of justice in maritime causes in our courts.

“The lacuna created by the low penetration level in Maritime Law at the undergraduate levels of our universities, coupled with the fast pace of development in international trade, exerts a lot of strain on our judicial officers,” she said, acknowledging the capacity gap created by the university curriculum.

In his address, the Acting Chief Justice of Nigeria, Justice Olukayode Ariwoola, reiterated the need for continued training in order to guarantee the independence of the judiciary.

Training will also add value to the quality and efficiency of the judicial system, which the judiciary is known for.

According to him, the seminar was designed to acquaint participants with emerging trends in the sphere of Admiralty Law and the challenges that digitisation and globalisation may throw up in the adjudication of admiralty matters.

Kuje prison under attack

Kuje Medium security prison has come under severe attacks by bandits, reports said.

It was gathered that the bandits invaded the prison around 11 pm Tuesday and opened fire on the security personnel guarding the prison.

The Prison is home to top suspects, top government officials, including those awaiting trial.
DCP Abba Kyari who was allegedly involved in drugs related case, amongst other top high profile suspects are kept in the prison.
As of the time of filing this story, the casualties remain unclear.

 

Gambia signs $68 million World Bank grant to revive tourism

The Gambia and the World Bank signed a $68 million grant on Tuesday aimed at supporting the diversification and climate drive of tourism in the west African country.

Representatives from the Gambia and the World Bank agreed that the grant would be used to not only revitalise the tourism sector, but also to drive employment and economic growth in a sector that is still struggling to recover from the devastating effects of COVID-19 and the economic fallout from Ukraine’s war.

The World Bank’s director of operations, Axel Van Trotsenburg, said at the signing ceremony in Banjul, the state capital, that the grant will also help protect Gambia’s Atlantic coastline from the impacts of climate change.

Oil theft is our biggest problem –NLNG

Philip Mshelbila, the Chief Executive of Nigeria LNG Ltd, said on Tuesday that oil theft is the biggest problem in the oil and gas industry in Nigeria.

He made this conclusion at the ongoing Nigeria Oil and Gas conference aimed at bringing industry experts together to brainstorm to find solutions to the country’s challenging oil and gas sector.

He said that the NLNG plant is not producing up to 100 percent because of this theft of crude oil and the vandalism of pipelines, among other problems.

On gas exports, Mshelbila said his company had stopped exports of liquefied petroleum gas so as to concentrate on the home front.

Venezuelan, Iranian oil could ease energy crisis – OPEC

Mohammad Barkindo, OPEC Secretary-General, said on Tuesday that crude oil from Venezuela and Iran could ease the current global energy crisis.

According to Reuters, the Nigerian-born oil and gas expert attributed the current energy crisis to not only restrictions against Venezuelan and Iranian oil but also the sanctions placed on Russia due to its invasion of Ukraine.

He also linked calls by some countries to divert from hydrocarbons as a limiting factor for the industry as major international oil companies withdraw from further investment in the sector.

He urged the west to reconsider allowing oil from these sanctioned countries, specifically Venezuela and Iran, to help address the current energy crisis.

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