Cost of shipping set to reduce as state announces new Inland Dry Port launch date
- Borno state government has reiterated its commitment to building the Jauri Inland Dry Port in Maiduguri
- The project is expected to provide shipping services to shippers in the hinterland according to Professor Zulum
- The infrastructure is expected to enhance transborder trade, resulting in significant financial gains for the governments
Legit.ng journalist Zainab Iwayemi has over 3-year-experience covering the Economy, Technology, and Capital Market.
The state government's commitment to establishing the Jauri Inland Dry Port in Maiduguri has been reaffirmed by Borno State Governor Babagana Zulum. He also stated that the project will soon enter the mainstream.
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The actualization of the Jauri Inland Dry Port (IDP) is a component of the state government's efforts to provide shipping services to shippers in the hinterland, according to Professor Zulum.
He made the disclosure on Wednesday during a courtesy visit to the management of the Nigerian Shippers Council (NSC) in Lagos.
According to the governor, the goal is to lower the total cost of shipping freight to hinterland areas of the state and its neighboring nations.
More jobs to be created
In addition to assuring stakeholders that the IDP will see significant growth over the next six months, Zulum stated that the state government's objectives were to create jobs and lessen instability.
He added in a Telegram report that the facility will improve transborder trade, which will generate a great deal of cash for the federal and state governments.
The facility has only recorded 5% progress, which is not promising for business, according to Executive Secretary/CEO of the NSC Barrister Pius Akutah. He said that the state government's willingness to support the initiative is a positive development.
The head of NSC referred back to the Dala Inland Dry Port project, which was completed successfully and is now operational. He also mentioned that Funtua Inland Dry Port has been designated as the port of origin and final destination.
According to the head of NSC, the Council is facilitating the Inland Dry Port (IDP) project in order to decongest seaports, provide shipping services to shippers in the hinterland, generate significant revenue for the government, and create job opportunities for citizens.
He said,
“The importance of Borno state as a border town to three countries cannot be overemphasized, especially as it affects the African Continental Free Trade Agreement (ACFTA) which Nigeria opens its borders to.
“The Jauri Inland Dry Port was concessioned to Messrs Migfo Nigeria Limited and the facility has a total of 10,000% TEUs capacity with 5% development completion.”
Customs implements duty-free import of food items
Legit.ng reported that the Nigeria Customs Service (NCS) has officially begun the implementation of zero per cent import duty and exemption of value-added tax (VAT) on selected basic food items, following a directive from President Bola Ahmed Tinubu.
In a statement released by Abdullahi Maiwada, Chief Superintendent of Customs and National Public Relations Officer for the Comptroller General of Customs, the duty-free policy will remain in force from July 15, 2024, until December 2024.
Nigeria Customs explained that the initiative is part of the government's temporary measure to mitigate current hardships and will focus on addressing the national supply gap.
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Source: Legit.ng
