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AMCON announces Capt. Mahmood as CEO for Aero Contractors



By Peace Busari

The Asset Management Corporation of Nigeria (AMCON) has announced Capt. Abdullahi Mahmood, a former Chief Pilot of Arik Air, as the substantive CEO for Aero Contractors.

Nigerian NewsDirect found that this transpired after Aero’s former helmsman, Captain Ado Sanusi stepped down after four years of service to the airline.

For now, AMCON’s choice for Aero MD has worked for Arik Air as both fleet manager and Chief Pilot.

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Universal, Norrenberger, Guinea Group set to sponsor NAIPE AGM



Universal Insurance Plc, Guinea Insurance Plc, and Norrenberger Group will sponsor the 2023/2024 Annual General Meeting(AGM) of the Nigerian Association of Insurance and Pension Editors (NAIPE). This year’s AGM is scheduled for Tuesday, July 9, 2024, at the Nigerian Insurers Association (NIA) House in Victoria Island, Lagos, starting at 11 am.

NAIPE, the professional body for journalists covering insurance and pension sectors in Nigeria, holds its AGM every July. Sponsoring companies gain a unique platform to promote their products and services to NAIPE members, who disseminate this information through their publications.

Universal Insurance Plc, one of Nigeria’s largest personal lines insurers with assets over N8 billion, offers a wide range of insurance products, including Auto, Property, Marine, and Oil & Gas Insurance. The company is known for prompt claims settlement and high service standards, aiming to be a leading non-life insurer in Nigeria.

According to Universal Insurance, “Our vision is to be a dominant, specialised non life insurer in Nigeria, creating and delivering value to stakeholders while our mission is to offer specialised non life insurance protection to clients inspired by innovation, efficiency and prompt claims settlement.”

Norrenberger Group, an integrated financial services provider, offers tailored financial solutions to individual and institutional clients. The Group focuses on investment options and alternative financing, aiming to deliver financial solutions to every household in Nigeria by 2025. Their services include Asset Management, Investment Banking, Pensions, Securities Trading, and Insurance.

Guinea Insurance Company Limited, established December 3, 1958, specialises in non-life insurance and offers solutions in General and Special Risks categories. Known for speed, efficiency, and innovation, Guinea Insurance provides products such as Home Shield, Motor, and Marine Cargo Insurance, serving both individual and corporate clients, however, it has always lived up to its name; consistently one step ahead of the industry in the provision of better and affordable risk management solutions.

The company said, “We are a major player in the provision of first rate financial risk solutions in the General and Special Risks business underwriting categories. We have established a reputation for exceptional competence in the delivery of customer-centric services and product innovation.”

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NSML, Temile ink agreement for management of 23,000cm LPG vessel



NLNG Shipping and Marine Services Limited (NSML) Temile Development Company Limited on Tuesday, signed a Vessel Management Agreement (VMA) to provide comprehensive vessel technical management services for the new 23,000 cubic metre LPG vessel, LPG Alfred Temile 10, owned by Temile Development Company Limited.

At a ceremony in Abuja, NSML’s Managing Director and Chief Executive Officer, Mr. Abdulkadir Ahmed, and Temile’s Chief Executive Officer, Mr. Alfred Temile, signed the VMA. Present at the signing ceremony were Adegboyega Oyetola, Minister of Marine and Blue Economy, represented by Mrs Ekanem Ogegere Celia, Deputy Director, Cabotage and Shipping; Engr. Felix Omatsola Ogbe, the Executive Secretary, Nigerian Content Development & Monitoring Board; Mr. Andy Odeh, General Manager, External Relations and Sustainable Development; Dr. Salihu Jamari, Chief Investment Officer, NNPC Gas & Power Investment Services, among others.

Speaking at the milestone event, NSML’s MD, Mr. Ahmed, emphasised that NSML will leverage its expertise and resources to ensure the safe, reliable, and efficient operation of the Alfred Temile 10. He stated that the relationship with Temile Development Company started with the delivery of the first LPG vessel – LPG Alfred Temile – to NLNG in 2020.

“The relationship grew and continued with the construction, supervision and delivery of the 2nd LPG Vessel – Alfred Temile 10 – to Nigeria in March 2024. This momentous occasion represents our shared commitment to excellence, safety, and innovation in the maritime industry. It also represents the tenacious can-do-spirit of Mr Alfred Temile who has grown his LPG vessel fleet within a span of four (4) years. The Alfed Temile 10 is a testament to our dedication to operating a modern, efficient, and environmentally responsible fleet. With its cutting-edge design and technology, this vessel will set a new standard for LPG transportation in Nigeria and the West Africa,” he said.

Also speaking at the event, Mr. Temile, stressed that the new vessel will play a critical role in gas transportation in Nigeria, enhancing the company’s capacity to deliver high-quality services while adhering to the highest standards of safety and environmental stewardship.

“We are confident that this partnership will set a new benchmark in the industry, and we are excited about the opportunities that lie ahead. As we embark on this new chapter, we also anticipate further strategic investment decisions including a third gas carrier later this year, demonstrating our commitment to deliver sustainable growth and value to our shareholders and Nigeria,” he added.

The keynote speaker, Engr. Felix Ogbe, commended NSML and Temile Development Company for partnering together. He stressed that there was ample human capacity, resources and tenacity in-country to achieve great feats, calling for increased collaboration and cooperation in the maritime industry.

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World Bank, Trade Ministry partner Shippers’ Council to tackle multiple-inspection border posts



By Seun Ibiyemi

The Ministry of Trade and Investment, alongside the World Bank and the Nigeria Shippers’ Council (NSC), have identified simplified trade processes and procedures at the seaports, across states and regional borders as imperative for economic growth.

Speaking recently when the Enhanced National Trade Facilitation Committee and representatives of the World Bank visited the NSC in Lagos, the Minister of Trade and Investment, Dr. Doris Udoka-Anite explained that the benefits of achieving harmonised, standardised and simplified trading processes and procedures are immense and cannot be overstated.

Udoka-Anite, who was represented by an Assistant Director in the Office of the Minister, Dr. Brenda Max-Nduagube, noted that trade facilitation has been a focal point of discussions at national, regional and international levels.

“This is ever more important to small and medium-scale enterprises where the NTFC helps create a more business-friendly environment for SMEs venturing into global markets. This translates to increased competitiveness, growth potential and a more level playfield,” the Minister stated.

She commended the World Bank for its steadfast support and collaboration, which have been instrumental in advancing Nigeria’s national trade facilitation goals while positioning her as a leading trade hub in the region.

She further commended the members of the Enhanced National Trade Facilitation Committee for tirelessly fostering collaboration and synergy across Ministries, Departments and Agencies (MDAs), the private sector and civil society, thereby paving the way for a more integrated and efficient trade facilitation framework.

She explained that the World Bank team was visiting to fully understand the daily operations, inspection processes and trade bottlenecks, and identify policy options to make trade seamless for the Nigerian government.

On their part, leader of the World Bank team, Aleksandar Stojanov, stated that, “We look at ways of supporting the government in terms of improving competitiveness and domestic value addition so that Nigeria can take full advantage of regional trade agreements such as AfCFTA (African Continental Free Trade Agreement), as well as the international agreements that they have.”

According to Aleksandar Stojanov, the World Bank team was on a fact-finding mission that would guide their dialogue on trade, reduce dwell time, and improve trade processes.

“Today, the World Bank has state-level trade operations, which has an inter-state trade indicator for seamless movement of goods across states in Nigeria and export promotion at the state level.

“There is one operation in the pipeline that will support trade facilitation, which has a linked indicator, that is on reducing inspections at the border and improving trade facilitation overall to the authorised economic operator system, which has been launched with the Nigeria Customs Service,” Aleksandar Stojanov stated.

On his part, the NSC Executive Secretary, Mr. Pius Akutah, noted that the Council is one of the major stakeholders in trade facilitation in Nigeria, and West Africa at large, as a member of the ECOWAS Trade Facilitation Committee, among others.

“We work with transport and cross-border infrastructures to reduce transport bottlenecks and facilitate trade, both in local and international markets.

“To consolidate this effort and that of the international agencies, the Nigerian Shippers’ Council has embarked on trade facilitation tools like the inland dry ports, and complaint centres across the country, in order to facilitate trade in the hinterlands and decongest the seaports, especially Apapa and Tin Can Island,” the NSC boss explained.

He disclosed that while on its mandatory activities, the NSC discovered that many traders along the border corridors perform their activities informally, with many small scale businesses carrying out their trades very well.

“We intend to do everything within our mandate to ensure that we formalise these activities. This has necessitated the Council’s collaboration with the Nigeria Customs Service and other stakeholders to establish Border Information Centres at the borders,” Barrister Pius Akutah added.

He assured the World Bank, Ministry of Trade and Investment and the National Trade Facilitation Committee of the NSC’s continued partnership to improve trade and other related activities.

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