NIGERIA LOSES $1.5BN ANNUALLY TO OIL CARGO MONOPOLY

-          Nigeria is said to be losing an estimated $1.5bn annually to a monopoly, which allows for the discharge of oil and gas-related cargos at a designated terminal belonging to a particular company.

-          The Chairman, Snake Island Integrated Free Zone, Anwar Jarmakani, said this while receiving the Comptroller General of Customs, Hameed Ali, and members of his management team during a visit to Nigerdock, a ship repair, fabrication, supply and logistics facility on Monday.

-          The Nigerian Port Authority had last year issued a directive, citing presidential order that all oil and gas-related cargos must be handled only by the company’s terminal in Onne, Warri and Calabar Ports.

-          The directive was signed on behalf of the NPA managing director by its General Manager (M&O), A. A. Goje

       CULLED FROM THE PUNCH.