Surging shipping costs, tax will harm Nigeria’s oil industry – Bloomberg

The shipping costs soared to just over $64,000 per day. Several ship owners expressed their decision to steer clear of Nigerian ports after receiving hefty tax bills, seeking to recover unpaid duties from 2010 to 2019, amounting to millions of dollars.

The tax claims, which varied from $400,000 to $1.1 million per vessel, have unsettled the shipping industry, with some ship owners fearing the risk of having their ships detained.

The situation has caused a significant shift in sentiment among ship owners, leading to a reduced pool of vessels willing to operate in Nigeria. Consequently, tanker earnings from West Africa to Europe have surged by over 42% in just three days, benefiting those ship owners who are still willing to venture into the Nigerian market as they can demand higher rates for their vessels.

The tax bills sent to multiple businesses by Nigeria’s Federal Inland Revenue Service (FIRS) pertain to a previous law published in July 2021. The law states that any vessel transporting crude oil, gas, or refined fuels from Nigeria is liable to pay taxes in the country. These unexpected tax demands, which collectively amount to tens of millions of dollars, have further exacerbated the challenges faced by ship owners.

A Look at Anyiam-Osigwe Group Limited Corporate Social Responsibility Efforts

The Anyiam Osigwe Group Limited has been an active player in the Nigerian business landscape since 1994. In addition to its impressive portfolio of services ranging from energy and infrastructure to real estate and hospitality, the company is also committed to giving back to the community through its corporate social responsibility (CSR) efforts. From supporting education and healthcare to promoting environmental sustainability and empowering women, the Anyiam Osigwe Group Limited is making a positive impact on society. Let’s take a closer look at some of their inspiring CSR initiatives.

The Role of Peace Anyiam-Osigwe’s Africa Film Academy A Subsediary Of Anyiam-Osigwe Group Limited In Developing Emerging Filmmakers In Africa

Peace Anyiam-Osigwe’s Africa Film Academy is playing a pivotal role in developing emerging filmmakers in Africa. Through its training programs, mentorship, and networking opportunities, the academy is empowering the next generation of African filmmakers to tell their stories and contribute to the growth and development of the African film industry.

Lessons in Leadership from the Life of Peace Anyiam-Osigwe MFR Anyiam-Osigwe Group Limited

Peace Anyiam-Osigwe MFR was a trailblazer in every sense of the word. Her life was a testament to the power of leadership and perseverance. From her humble beginnings to her rise to the top of the corporate ladder, there are countless lessons that we can learn from her life. One of the most important lessons that we can learn from Peace Anyiam-Osigwe is the importance of hard work and dedication. She was never one to shy away from a challenge, and she worked tirelessly to achieve her goals. She knew that success was not handed to her on a silver platter, and she was willing to put in the extra effort to get to where she wanted to be. Another key lesson that we can learn from Peace Anyiam-Osigwe is the importance of taking risks. Throughout her life, she was never afraid to take on new challenges and try new things. She understood that in order to achieve greatness, she had to be willing to step outside of her comfort zone and take calculated risks. Finally, perhaps the most important lesson that we can learn from Peace Anyiam-Osigwe is the importance of giving back. She was a woman who was dedicated to making a positive impact on the world around her, and she spent much of her life working