Flowerbudnews
Lagos:  The Shipping Shipping Agencies, Clearing and Forwarding Employers Association (SSACFEA) has urged the Federal Government to dialogue with operators over the 15 per cent port charges implementation.

The association made the plea at a news conference in Lagos on Friday.

The association’s President, Mrs Boma Alabi, a Senior Advocate of Nigeria (SAN), also the government to put the recent 15 per cent port charges implementation on hold to enable dialogue.

(Pic: From L-R The President l, Shipping Shipping Agency, Clearing and Forwarding Employers Association (SSACFEA) SQN, Mrs Boma Alabi, and the Deputy Managing Director, CMA CGM , a shipping line, Mr Ramesh Saraf, during a news conference in Lagos on Friday.)

“We were not informed about the charges before the government implemented them. The government should try to make the ports competitive and attractive, which can be achieved through a reduction of port charges.

“If port charges are reduced, cargo throughput will increase, then the government will make more revenue, and there will be enough jobs available for the youth,” Alabi said.

She said that Nigeria lost cargoes to neighbouring countries due to high port charges.

She said that the government could review cargo costs to enable the ports to be attractive and competitive.

Alabi said that it cost 15,000 dollars for ships to call at other ports, while it cost 150,000 dollars for ships to call at Nigerian ports.

“Before the implementation of the 15 per cent port charges by the government, port charges on 40ft containers additionally cost N100,000, while it cost N55,000 for 20ft containers.

“After the 15 per cent port charges implementation, it costs an additional N290,000 to bring a 40ft container into Nigerian ports, while it costs N145,000 to bring a 20ft container.

“In Singapore, it takes 29,000 dollars for a ship to berth; 60,000 dollars in Abidjan; 35,000 dollars in China; 26,000 dollars in Lome; 27,000 dollars in Cotonou; and 350,000 dollars in Nigeria,” Alabi said.

She called for port expansion, saying that ports could not be competitive if the cost of doing business was high.

Alabi urged the government to re-dollarise port charges on both import and export goods to make Nigerian ports attractive and competitive.

She said that neighbouring countries had hijacked Nigerian cargoes and they still found ways into the country through smuggling, which she described as dangerous to the economy.

Alabi said that vessels calling at Nigerian ports were leaving with empty containers, while agricultural produce was getting out of the country by road with lesser toll fees, enriching neighbouring countries who sold to foreigners.

In his contribution, the Deputy Managing Director, CMA CGM, a shipping line, Mr Ramesh Saraf, pleaded with the government to support them to remain in business.

Saraf said that Meridian Ports Service Ltd., owner of Terminal C in Tema Port, recorded 1.9 million TEUs (20ft equivalent units) that called at the terminal in 2024, while 1.2 million TEUs called at Nigerian ports in 2024.

He said that lower port charges would attract more cargo to Nigerian ports.

“Lekki Deep Sea Port started operation in April 2023 with less than half capacity of cargo, and now less operation is taking place at the port.

“The cost of operation in Lekki Deep Sea Port is triple the port charges in other ports across the world,” Saraf said.

The Nigerian Ports Authority (NPA) announced a 15 per cent increase in port tariffs, the first adjustment in 32 years, citing the need to modernise infrastructure and equipment, which will take effect on March 1.

….Tackles Arik Air over alleged indebtedness

Flowerbudnews

The Asset Management Corporation of Nigeria said it has recovered over N2.1trn debts despite its challenges since inception.

It also stated that the corporation currently has over 2000 cases in court, as some of their debtors do not use the money to do what it was borrow for.

This was disclosed during a press conference held Friday at Marriott Hotel, in Keja Lagos.

Speaking at the event, its Head, Corporate Communications Department, AMCON, Mr. Jude Nwauzor, said that the purpose of the conference was to address the issue of the indebtedness of Arik Air Limited (in Receivership) and its owner, Sir Johnson Arumemi-Ikhide, to AMCON.

(L-R: Chief Financial Officer, Aero Contractors Mr. Charles Grant; Head, Corporate Communications Department of Asset Management Corporation of Nigeria (AMCON) Mr. Jude Chiedozie Nwauzor; Hauwau Ibrahim of Corporate Communications Department; Head of Litigations, Mr. Norbert Enenmoh; Head of Legal Department, Mr. Albert Nwanozie; Acting Company Secretary Mrs Oyinlola Adebayo; Mr Issa Usman of Litigation Unit; and the Technical Assistant to the MD/CEO of AMCON Mr Mohammed Yusuf at a media luncheon with Judicial Editors at Marriot Hotel in Lagos…at the weekend)

AMCON reaffirmed its commitment to recovering the N227.6 billion owed by Arik Air Limited (in Receivership) and its founder, Sir Johnson Arumemi-Ikhide, amid ongoing legal battles and allegations of mismanagement.

According to Nwauzor, at AMCON, we see the Media as very strategic to our recovery mandate because most of these obligors run to the media with some skewed narratives in their desperation to make AMCON look bad.

“The point remains that these are debtors who have contributed to killing the Nigerian economy.
“The media must not allow them to eat their cake and have it,” Nwauzor said.

He noted that as media is the mirror of society, the management of AMCON is convinced that a deeper collaboration between AMCON and the Media will deliver positive dividends for the country.

Nwauzor further added that the task of debt recovery has been arduous and challenging. While several thousands of Nigerians and Nigerian companies have honoured their obligations, AMCON has continued to face resistance from a number of debtors who are unwilling to pay without a fight.

According to him, one of these debtors is Arik Air Limited (in Receivership), an airline company owned by Sir Johnson Arumemi-Ikhide, who is also the promoter of Rockson Nigeria Limited (a power infrastructure company), Ojeimai Farms Limited, and Ojemai Investment Limited.

“These companies’ debts were transferred by various banks to AMCON due to their non-performance, with a total indebtedness of N455, 171, 764, 772.80 billion as at December 31, 2024.

“Arik owes AMCON N227,637,469,394.34 billion; Rockson Engineering N163,502, 837, 397.75bn and Ojemai Farms N14, 031, 457, 980.71bn,” he said.

Nwauzor explained that the fact of the matter is that no matter the smear campaign he is sponsoring against AMCON, these debts must be recovered one way or the other.

“The leadership of AMCON knows that there is no nice way of recovering debt. For that, obligors go to any length to assassinate the characters of both AMCON staff and Management, they malign the name of AMCON, intimidate, and harass our personnel with every arsenal at their disposal.

“Repeatedly, AMCON has made the point at every opportunity that all stakeholders including the Media must view the AMCON mandate as one of serious national importance.

“If at sunset AMCON is unable to recover the huge debt of over N4trn, it becomes the debt of the Federal Government of Nigeria for which taxpayers’ monies will be used to settle.

“The implication is that the general public will be made to pay for the recklessness of only a few individuals who continue to take advantage of the loopholes in our laws to escape their moral and legal obligations to repay their debts,” he said.

Nwauzor said the question AMCON would want the media to ask Sir Johnson Arumemi-Ikide is if indeed he took these loans that led the banks to sell the loans to AMCON.

“If his answer is yes, the aviation media should also be interested in his effort(s) at repayment.

“Amongst several inaccurate claims, the founder of Arik, Sir Johnson Arumemi-Ikhide, has consistently peddled a false narrative regarding his debt to AMCON, claiming that Arik never defaulted in its payment obligations to Union Bank and feigning ignorance of the debt owed to AMCON.

“He has also alleged that the receivership was premature and claimed his loan was performing.

“These claims are misleading. The intelligent public must ask, if the loan was performing, why was it sold and restructured? And why did he agree to the restructuring? Did he fulfill the agreed terms?

“Arik’s debt originated from loans taken from Union Bank of Nigeria, Bank PHB (now Keystone Bank) and others.
AMCON explained that Union Bank classified the loan as non-performing and sold it in 2010, after warning Arik about its financial instability.

“If the loan was performing, why was it sold? Why did he agree to the restructuring? Did he fulfil the agreed terms?” Nwauzor questioned.

AMCON further revealed that Arik had a negative equity value of N80bn in 2016, with total liabilities reaching N289 bn.

“By December 2016, the airline’s negative shareholder capital had surged to N139bn nearly equivalent to its AMCON debt.

Following years of financial distress, AMCON took over Arik in 2017, citing chronic mismanagement, flight cancellations, unpaid staff salaries, and regulatory violations. At the time, Arik was on the brink of collapse, struggling to maintain its aircraft and fulfil ticketed obligations.

“Between November 2016 and January 2017, the airline suspended several operations, failed to pay for insurance, and owed around N30 bn to aviation regulators (NCAA, FAAN, and NAMA).

“The government, concerned about the safety of the airline, the welfare of over 1,500 employees, and the stability of the aviation industry, urged AMCON to intervene,” the agency stated.

“In 2021, Arumemi-Ikhide challenged AMCON’s takeover in the Federal High Court, Lagos.

“However, Justice A. Lewis-Allagoa upheld the receivership, affirming AMCON’s exclusive authority to manage Arik.

“The validity of the receivership has been affirmed by the court and is not in question,” Nwauzor stated.

Nwauzor added that despite the court ruling, Sir Johnson Arumemi-Ikhide continues to dispute the debt, claiming that AMCON’s takeover was “premature” and that his loans were performing.

He also accuses the receivership of mismanaging Arik’s fleet.

However, AMCON dismissed these claims as false, stating that when it took over, only eight aircraft were operational, far fewer than the 30 planes Arumemi-Ikhide claims were in service.

Some aircraft, AMCON alleged, had been used as collateral for personal debts and were later repossessed by creditors.

AMCON, created in 2010 to stabilise the banking sector, has faced severe resistance from debtors, who often resort to legal delays and media campaigns.

“The task of debt recovery has been arduous. If AMCON cannot recover these debts, the burden falls on taxpayers, the general public will be made to pay for the recklessness of a few individuals,” the Nwauzor warned.

By Flowerbud News

Mr Camaru Lateef Ogidan is currently suffering from a kidney related ailment.

The life-threatening disease has kept the business man financially incapacitated.

Camaru who hails from Ondo State, has been on dialysis since 2022 when he was diagnosed with the ailment.

His dialysis takes place three times a week at the cost of N300,000 and N1 200,000 per month. This expenditure has drained his resources, causing him to sell some of his belongings.

Doctors have recommended an urgent kidney transplant owing to the fact that the dialysis is no longer effective.

In a video recorded by Camaru on his hospital bed, he appealed to public spirited individuals and organizations to assist him by generously donating to his kidney transplant, which will cost a whooping N52 million.

“I am soliciting for your assistance so I will be able to live again. I have done dialysis for almost three years. I thought I would be able to do it myself but I am no longer capable of doing it. I need friends and well wishers to come to my assistance. God bless you.

Please send your donations to the 1004892109 United Bank for Africa, Lateef Ogidan.

–  The Clinical Research Organization (CRO) is being supported by funders, led by Chief (Dr.) Dele Fajemirokun, a Nigerian businessman, entrepreneur, investor, venture capitalist, and philanthropist

By Biola Lawal
FLOWERBUDNEWS:   Liddie Bioequivalence (Liddie BE) Ltd (https://www.liddie.org/), an emerging world class Clinical Research Organization (CRO), is now set for a major boost of Nigeria’s health sector with local production of genetic drugs.
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Flowerbudnews reports that the establishment of Liddie BE Limited, a consortium of pharmaceutical and drug research professionals and experts,  is expected to make available high quality and safe generic drugs at significantly reduced costs to the government and patients in Nigeria and Sub-Saharan Africa.

(Chief (Dr.) Dele Fajemirokun, a Nigerian businessman, entrepreneur, investor, venture capitalist, and philanthropist)

The company is already investing heavily in a Bioequivalence/Clinical Trial Centre for a tremendous impact on the nation’s healthcare delivery.

The groundbreaking ceremony for Liddie BE’s state-of-the-art facility in Ibadan, Nigeria, which includes a dedicated 24-bed clinical trial unit and a bioanalytical laboratory (positioned for ISO 17025 certification), will take place by Q2 2025 and will be commissioned in Q3 2026, Flowerbudnews learnt.

The Nigeria-based Clinical Research Organization (CRO), is the first of its kind in sub-Saharan Africa and in collaborative operation with the prestigious Obafemi Awolowo University (OAU), Ile Ife, Nigeria.  The CRO is being supported by funders, led by Chief (Dr.) Dele Fajemirokun, a Nigerian businessman, entrepreneur, investor, venture capitalist, and philanthropist, Flowerbudnews reports.

Flowerbudnews learnt that Liddie BE, which  is already registered with the Corporate Affairs Commission (RC 1575041) has a Corporate Social Responsibility (CSR) commitment to strengthen the pharmaceutical industry in Nigeria in the assessment of the bioequivalence of generic medicines (drugs).

For effective operations, Liddie BE has signed a comprehensive memorandum of understanding (MOU) with the Obafemi Awolowo University (OAU), which covers collaboration in the design and conduct of bioequivalence and clinical research projects for the pharmaceutical industry and building capacity of academic staff and young scientists, Flowerbudnews reports.

A statement on the unique pharmaceutical project made available to Flowerbudnews disclosed that
currently, Liddie BE Ltd bioanalytical laboratory (Bioequivalence and Biopharmaceutics Laboratory, Faculty of Pharmacy, OAU) under the leadership of Prof. Oluseye Bolaji, is equipped with state-of-the-art analytical equipment (including LC-MS and HPLC) that are currently domiciled at OAU.

A clinical site is also now located at the newly built Jennifer Etuh Medical Center, Ifewara, Osun State (with in-house modern laboratories), a few kilometers from OAU, Flowerbudnews reports.

”The Centre will obtain WHO prequalification/FDA certification by Q4 2026 and will work closely with the National Agency for Food and Drug Administration and Control (NAFDAC) to ensure that all the expected clinical and laboratory operations compliances are met and consistent with international best practices,” the statement stressed

The statement further disclosed that ”the Liddie BE company is driven by a strong management team of US-based Nigerian pharmaceutical scientists in partnership with Nigeria-based pharmaceutical and clinical professionals (https://www.liddie.org/team/).

”The company is being built on a quality-driven foundation, staffed with a competent diaspora-sourced clinical pharmacologist with over 30 years combined US FDA/pharmaceutical industry regulatory work experience.”

Flowerbudnews learnt that the ”in-country scientists are composed of university professors with greater than 90 years of combined clinical/pharmaceutical research experience, and regulators with over 60 years of NAFDAC regulatory careers.”

The brief on LIDDIE BE also disclosed that the CRO’s top pharmaceutical scientists and administrators are operating with strategic direction, under a seasoned advisory board to provide oversight. It also has Dr Olawale Salami, an international clinical trials expert, as an advisor, who supports the company with his expertise in the design and management of Phase 1 to 4 clinical trials.

”Dr. Salami has overseen over 40 clinical trials, including complex trials, across several therapeutic areas (oncology, infectious diseases, cardiovascular and gynecological diseases),” the brief stated.

It disclosed further:
One component of healthcare that can be reduced substantially is the cost of medicines and this can be achieved by using cheaper, locally produced, and quality generic substitutes of the often more expensive innovator (or brand-named) medicines.

To serve as substitutes, generic products should be bioequivalent or therapeutically equivalent to the commercially available brand (innovator, originator, comparator) product.

The US FDA defines a generic drug as a “medication created to be the same as an already marketed brand-name drug in dosage form, safety, strength, route of administration, quality, performance characteristics, and intended use.”

Flowerbudnews learnt that the African market is dominated by the presence of generic drugs (>80%). Nigeria also controls more than 60% of pharmaceutical manufacturing in the ECOWAS sub-region, serving 300 million people.

Yet, a vast majority of the generic drugs in the Nigerian market do not have BE data. From Nigeria’s NAFDAC sources, at least 50% of drug products registered that are supposed to have BE data do not come with such data.

Specifically, 80% of antivirals, 75% antibiotics and 96% antimalarials are registered without BE data.

Flowerbudnews also learnt that, with the Maturity Level 3 status of NAFDAC and the goal for Maturity Level 4, the Director General had given a directive that BE data has become mandatory for the registration of products that need such data.

The establishment of Liddie BE Limited will play a significant role in achieving the laudable NAFDAC goal and will make available, high quality and safe generic drugs at significantly reduced costs to the government and patients in Nigeria and Sub-Saharan Africa, the statement assured.

It is noteworthy that Liddie BE recently initiated the first bioequivalence study from a local manufacturer sponsor and a Principal Investigator who is a professor of medicine at OAU, Ile Ife.(Flowerbudnews)

Flowerbudnews

The Court of Appeal sitting in Abuja, on Friday, halted the enforcement of its January 10 judgment, which upheld the Kano State Government’s decision to repeal the 2019 Emirate Council Law.

In its ruling, the court also set aside the June 20 2024 order of the Federal High Court in Kano, which nullified the Kano State Government’s actions under the Kano State Emirate Council (Repeal) Law 2024, these actions included dissolving the five emirates created in 2019 and the reinstatement of Sanusi II as Emir.

By implication, the final decision on the reinstatement of Sanusi Lamido Sanusi as the 16th Emir of Kano or otherwise would now await the pronouncement of the Supreme Court. Details later…