Connect with us

News

Samsung, LADOL Dispute Resolved as Pacific Ruby Docks at SHI-MCI Yard

Published

on

Nigerian government has recorded big breakthrough in alternative dispute resolution over sub-lease conflict between Samsung’s SHI-MCI FZE and LADOL as Pacific Ruby, the first LNG fueled Aframax COT, entered the Lagos ports on Friday.

The dispute between the two parties has been raging for the past four years with countless court cases and with over 3000 jobs under threat by LADOL’s decision to evict the Samsung subsidiary from its fabrication and integration yard.

The intervention of new NEPZA management and the Attorney General of the Federation, Abubakar Malami however changed the tide as LADOL management displayed magnanimity and good faith by allowing the yard to reopen operation for business.

The dispute had prevented Pacific Ruby built by SHI Korea this April and other similar vessels from patronising Nigerian ports as no other quay in Nigeria can receive this size of vessels except disputed SHI-MCI Yard. Nigeria had lost millions of dollars in revenue over the period.

The partnership between SHIN and LADOL started when the two companies entered a joint venture and established SHI-MCI FZE. In turn, SHIN was able to build a fabrication and integration yard at the LADOL free zone in Lagos for the integration of around $3.0 billion Floating Production Storage Offloading (FPSO) unit.

Meanwhile, a Special Economic Zone group, the FTZ Watchdog has described the development as “a big boost to the efforts of Muhammadu Buhari administration to strengthen investors’ confidence in the Nigerian Special Economic Zones and a demonstration of patriotism and integrity by LADOL management”

In a statement in Abuja over the weekend, signed by its Executive Secretary, Bala Bankudi, the group expressed commendation to the management of LADOL for “embracing the bigger picture by resolving to re-embrace its partner for amicable resolution of the almost four year old dispute, adding that “LADOL deserves praises for demonstrating its capacity to be a responsive and responsible player in the SEZ space.

” The regulator of FTZs in Nigeria, that is the Nigerian Export Processing Zones Authority (NEPZA) has now emerged as an effective umpire with tremendous capacity to resolve compllex and complicated business and legal disputes. To this end, we commend the Minister of Trade, Otunba Niyi Adebayo for good guidance to NEPZA under the proactive leadership of Prof Adesoji Adesugba.

” To resolve a dispute ongoing for almost four years under few months confirms stakeholders’ position that NEPZA is best placed to regulate Nigerian Special Economic Zones in line with international best practices”, the group opined.

While urging more application of alternative dispute resolution mechanism, the group hailed the role played by the Attorney General of the Federation, Abubakar Malami who gave neccesary backing and support for the fasttracked intervention of the regulator in the dispute.

” This is a success story for all stakeholders, from LADOL to NEPZA to the Justice and Trade Ministers. A template now exists that can be effectively deployed to resolve other outstanding court cases within the free zone ecosystem. We must embrace all efforts to boost investors’ confidence”, the Watchdog group noted.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Defence/Security

Banditry: Rep member condemns attack on Kwara community

Published

on

Stephen Olufemi Oni, Ilorin

The Member representing Ekiti/Isin/Irepodun/Oke-Ero Federal Constituency in the National Assembly, Hon. Raheem Tunji Olawuyi Ajuloopin, has strongly condemned the recent attack in Idofin Odo-Ashe, Oke-Ero Local Government Area of Kwara State, describing it as a cowardly act that seeks to disrupt the peace and stability of the community.

Hon. Ajuloopin, in a statement personally signed by him, expressed deep concern over the unfortunate incident and sympathised with the victims, their families, and the entire community affected by the dastardly attack, emphasising that acts of violence have no place in a civilised society, and therefore urged security agencies to intensify efforts in bringing the perpetrators to justice.

While commending the swift response of both the federal and Kwara State governments, as well as the security agencies and local vigilante groups, the lawmaker reiterated that the fight against insecurity requires collective responsibility, calling on traditional rulers, community leaders, and residents to remain vigilant and cooperate fully with security operatives by providing timely and credible information.

“Security is everyone’s business. We cannot afford to leave the safety of our communities solely to government agencies. Every citizen must be actively involved in safeguarding our environment and ensuring that peace prevails,” Hon. Ajuloopin admonished.

He reaffirmed his commitment to continued collaboration with relevant authorities to ensure that lasting peace in all parts of Kwara South and beyond.

Hon. Ajuloopin also appealed for calm, assuring that both the federal and state governments are working tirelessly to address the root causes of insecurity and prevent future occurrences.

End

Continue Reading

News

Governor Namadi Attends High profile Ministerial Meeting On Self-Sufficiency In Cairo

Published

on

From Hassan Taiye

Governor Umar Namadi is currently in Cairo,Arab Republic of Egypt, attending the Third High-Level Ministerial Meeting on Rice Self-Sufficiency, holding from October 7th to 9th, 2025, in Cairo and Sakha.

The meeting, themed “Towards Rice-Based Agri-Food Systems Transformation and Delivering on Rice Self-Sufficiency through Peer-to-Peer Learning: The Case of the Arab Republic of Egypt,” is jointly organized by the Egyptian Ministry of Agriculture and Land Reclamation, AfricaRice, the Arab Organization for Agricultural Development (AOAD), and other key continental partners.

This high-level gathering brings together African Ministers of Agriculture, State Governors, and agricultural leaders to share practical experiences on achieving rice self-sufficiency and agricultural transformation.

The event will showcase Egypt’s remarkable progress in achieving rice self-sufficiency despite its limited water and land resources, offering valuable lessons adaptable to other African contexts.
Namadi is participating alongside top policymakers, agricultural experts, and private sector players from across Africa to discuss innovations, policy reforms, and strategic investments aimed at strengthening food security and transforming the agricultural sector on the continent.

Over the three-day programme, delegates will engage in high-level ministerial sessions, technical discussions, and a field visit to Egypt’s renowned Rice Research and Training Centre (RRTC) in Sakha.

During the visit, participants will interact directly with Egyptian scientists and farmers to learn about the country’s advancements in high-yield rice varieties, efficient irrigation systems, and modern post-harvest technologies.

Jigawa State’s participation in this important forum underscores the state’s commitment to agricultural transformation, food self-sufficiency, and consolidating Jigawa’s position as one of Nigeria’s leading hubs for rice production and agribusiness development.

The meeting is expected to conclude with a Ministerial Declaration setting a continental roadmap for achieving rice self-sufficiency through collaborative research, policy coordination, and targeted investment across the rice value chain.

Governor Namadi is accompanied by senior officials from the Jigawa State Ministry of Agriculture and related agencies.

Continue Reading

News

There’s Political Genocide Against Christians in Northern Nigeria – Aisha Yesufu

Published

on

By: Fabian Apechihin

Sociopolitical activist Aisha Yesufu has accused Nigerian political leaders of perpetuating what she described as a “political genocide” against Christians in Northern Nigeria.

Yesufu made the remark on Tuesday in response to American comedian and TV host Bill Maher, who recently alleged that Nigerian Christians are facing coordinated attacks.

Maher, speaking on his HBO show, said, “I’m not a Christian, but they are systematically killing Christians in Nigeria. They’ve killed over 100,000 since 2009 and burned 18,000 churches. These are the Islamists, Boko Haram.”

Reacting via her X handle, Yesufu criticized what she called hypocrisy among Nigerian politicians who express concern over Christian persecution yet supported the Muslim-Muslim presidential ticket during the 2023 elections.

“You are shouting that Northern Christians are being persecuted, but you championed a Muslim-Muslim ticket! Their Christianity was not Christian enough for you during the 2023 election,” she wrote.

She concluded by calling for greater attention to what she termed the “political genocide” against Northern Christians, urging consistency in both words and actions when addressing religious and political marginalization in Nigeria.

Continue Reading

Trending

Copyright © 2017 Zox News Theme. Theme by MVP Themes, powered by WordPress.