General News
Resilient Supply Chains in Africa: Key to Success in 2015- DHL
Successful companies in 2015 will be those that can adapt to the fast changing global environment, such as unstable currency markets, the fast growing global population and rising number of internet users, and make them work in their favour, said DHL.
Speaking on the prediction, Sumesh Rahavendra, head of Marketing for DHL Express Sub Saharan Africa, said that, as the global economy continues to change, retailers, manufactures and other sectors are increasingly facing difficult, and sometimes unique, challenges that impact their supply chains.
Rahavendra added that business decision-makers should be asking themselves how they can respond quickly to fast-changing customer demand, how they can contain or reduce escalating costs and how they can enter emerging markets without substantially increasing their risk.
Rahavendra elaborated on a few areas which are key to building a well-designed supply chain to include:
Annual Planning And Reviewing:
“This lays the foundation for an efficient supply chain as it assists business owners to see the bigger picture and enables them to be flexible in the face of changing business needs.
All potential risks must be identified and assessed, no matter how improbable.
It is equally important to review the past year to ascertain what impacted their supply chain, and what can be improved upon to avoid unnecessary interruptions in the future.
For example, the fluctuating fuel price directly impacts delivery costs.
It is therefore important to streamline delivery processes in order to stabilise costs and in turn, keep client tariffs stable.
Another area to look at is seasonal spikes in business which may require additional resources. For example, retailers often experience a surge in sales over the festive season – effective solutions need to be put in place to avoid customer delay, and ultimately complaints.
Reverse Logistics:
This is often overlooked, however, effectively managing the flow of returned goods and packaging is key to reduce unexpected costs.
International Supply Chain Management:
Trading across borders can present a number of challenges, unique to each country.
In Africa, these include congestion in major cities, such as Lagos and Nairobi, customs inconsistencies with regards to product classifications and duty and tax exemptions, which can lead to complex customs clearance processes, and a lack of air connectivity with just over 12% of cities served by just one flight a week.
It is important to understand these challenges and make the necessary plans to circumvent potential delays.
Rahavendra further advised that in order to maximise a business’s bottom line, decision-makers should aim to take a more holistic approach to managing supply chain risk and achieve greater visibility, flexibility, and control.
“Businesses in Africa are under increasing pressure in the current economic climate to remain competitive, both locally and globally, and sometimes lack the ability to build resilient supply chains. Outsourcing logistics strategically can make a significant contribution to a business’s profitability so make sure that you have the right partners who understand the global economy and more importantly, the intricacies of doing business with each individual African county – it’s not a one size fits all approach,” said Rahavendra.
DHL is the global market leader in the logistics and transportation industry and “The logistics company for the world”.
The Company commits its expertise in international express, national and international parcel delivery, air and ocean freight, road and rail transportation as well as contract and e-commerce related solutions along the entire supply chain.
A global network composed of more than 220 countries and territories and around 315,000 employees worldwide offers customers superior service quality and local knowledge to satisfy their shipping and supply chain requirements.
DHL accepts its social responsibility by supporting environmental protection, disaster management and education.
Nigeria Customs Service (NCS) is set to introduce an electronic declaration system to streamline and enhance compliance for travelers carrying cash into or out of Nigeria.
Speaking in an interview with the News Agency of Nigeria (NAN) in Abuja, Abdullahi Maiwada, NCS spokesperson, emphasized that the initiative aligns with efforts to strengthen Nigeria’s anti-money laundering framework and reinforce financial regulations.
“The Nigeria Customs Service (NCS) has announced the deployment of an Electronic-Currency (E-Currency) declaration form as part of its anti-money laundering measures for travelers carrying cash into and out of Nigeria,” NAN reported. The system will require travelers carrying amounts exceeding the legal threshold to declare them before arrival or departure.
Maiwada further explained the process, stating, “We have developed a system where, even before leaving your point of origin, you can scan a QR code, access the form, fill it out, and we will be able to see it from here.”
He noted that the initiative, set for rollout soon, will enhance monitoring and facilitate information sharing with relevant authorities.
Under the Anti-Money Laundering (Prevention and Prohibition) Act 2022 and the NCS Act 2023, travelers carrying over $10,000 (about N15.4 million) or its equivalent in negotiable instruments must declare the funds to Customs authorities.
To boost awareness, the NCS is working with airline operators to inform travelers through onboard announcements and plans to reinstate signage at airports and border points in English and French.
The move comes as part of broader efforts to tighten financial controls following a recent case at the Murtala Muhammed International Airport (MMIA), where Customs officials seized $578,000 from a passenger attempting to evade currency declaration regulations.
General News
Aquaterra Energy Secures Multi-million-dollar well Intervention Contract with Intrepid Energy in Nigeria
Aquaterra Energy, a leader in offshore engineering solutions, has secured a multi-million-dollar, multi-year contract with Intrepid Energy Limited (IEL) to deliver a bespoke subsea well intervention equipment package for a project in Nigeria.
Aquaterra Energy’s turnkey well access package will enable IEL to conduct intervention operations across multiple mature oil wells in the region, supporting enhanced reservoir production.
The contract includes the supply of a complete seabed-to-surface intervention system and package, spanning from the subsea tree to surface intervention equipment.
Key components include Aquaterra Energy’s TRT tieback tooling, which provides production bore and annular access, a lightweight well pressure control system, and an ISO 13628-7 qualified open water intervention riser with an integrated tensioning system. In addition to equipment provision, Aquaterra Energy will also deliver ongoing offshore engineering support throughout the project.
The 7- 3/8” lightweight well access solution, has been specifically engineered for deployment from jack-ups and lift boats. This innovative approach offers a cost-effective and operationally efficient alternative to floating vessels, reducing intervention costs while maintaining high safety and performance standards.
Andrew McDowell, Delivery Director at Aquaterra Energy comments: “Our expertise in offshore engineering allows us to develop tailored intervention solutions that address the operational challenges of subsea well access.
This system has been engineered for efficiency, ease of deployment, and safety, helping IEL optimise intervention activities across Nigeria while reducing costs. By delivering a complete, integrated package, we are simplifying complex operations and enabling operators to maximise production potential.”
Engr Seun Alonge, CEO at Intrepid Energy Limited adds: “Working with Aquaterra Energy marks a significant step forward for our intervention operations in Nigeria. Their specialised technology enhances our ability to execute intervention programmes efficiently, maximising performance across our assets.
By combining Aquaterra’s technical expertise with our deep understanding of the local operating environment, we’re confident this collaboration will enhance production outcomes and create lasting value for our operations in the region.”
The project is set to support intervention operations over multiple years, with Aquaterra Energy providing ongoing technical expertise, with a dedicated team of engineers providing ongoing service support throughout the project.
George Morrison, CEO at Aquaterra Energy: “Delivering reliable and efficient well access solutions for shallow water subsea operations is central to how we support offshore operators.
This collaboration with IEL reinforces our commitment to providing cutting-edge engineering solutions that enhance efficiency and reduce operational costs. With West Africa playing an important role in the global energy sector, we’re proud to continue supporting its offshore industry with our expertise and innovative technologies.”
Federal government has temporarily suspended the controversial annual dues imposed on public interest enterprises by the Financial Reporting Council (FRC) after fierce opposition from businesses.
Jumoke Oduwole, minister, Industry, Trade, and Investment, announced the decision during a Ministerial Consultative Meeting in Abuja on Wednesday.
The move follows mounting pressure from private sector groups, including the Nigeria Employers’ Consultative Association (NECA) and the Manufacturers Association of Nigeria (MAN), who slammed the Financial Reporting Council (Amendment) Act 2023 for burdening companies with excessive fees.
The Act mandates cumulative annual charges for non-listed entities and imposes a harsh 10% monthly penalty on unpaid dues, compounding until full payment, a provision that sparked widespread backlash.
At the meeting, major industry players like NECA, MAN, the Nigerian Association of Chambers of Commerce (NACCIMA), oil producers, and telecom operators warned that the fees would cripple businesses already struggling in a tough economy.
Oduwole clarified the suspension, stating, “The government has decided to direct the Financial Reporting Council to pause in the implementation of the new annual dues. You know that I am a lawyer, and a suspension request by the organised private sector would be in contravention of legislation duly passed by the National Assembly. A pause is an administrative process simply to review, in line with what we discussed today.”
She assured stakeholders that the halt would last no longer than 60 days, with a technical working group—including FRC officials and private sector representatives—set up to reassess the policy.
“We are a listening administration. The private sector has requested a range from three months to an indefinite suspension. We are not going to do that. So, at the most, 60 days is in my estimate. We are going to set up a technical working group comprised of the FRC and the organised private sector who have formally written in, and this will be reviewed,” Oduwole emphasized.
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