Going To Sea: Coastal Vessels

Going To Sea: Coastal Vessels

STATUTORY GUIDELINES FOR OPERATION OF COASTAL VESSELS Once again the voyage starts at the Department of Petroleum Resources. 1.0 Definition Coastal vessels are specifically used for lifting and/or discharging of bulk petroleum products at the Nation’s Jetties or from shore to shore or transship to shore. Under no circumstances shall licenced coastal vessels engage in bunkering operations. 2.0 Annual Licence and Verification Fee for Coastal Vessel An annual non-refundable coastal vessel licence fee of One Hundred Thousand Naira (N100,000.00) in Bank Draft shall be payable to the Federal Government of…

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The Bottled or ‘Pure Water’ Business

The Bottled or ‘Pure Water’ Business

“Pure water is the world’s first and foremost medicine.” –Slovakian Proverb– “Filthy water cannot be washed.” –African Proverb– Today, there are over one billion people who do not have access to safe drinking water (potable water), and this results in millions of deaths from preventable diseases every year, especially amongst infants. This is almost exclusively a Third World affliction – and Nigeria is not excluded from these grim statistics. In the rural areas of Nigeria, access to drinking water is often limited to rivers, streams and wells; more fortunate communities…

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Bunkering of the Legal Kind

Bunkering of the Legal Kind

 “If you want to avoid bunker mentality, Leave the bunker.” — Robert Vaughn — Bunkering is an age-old activity – dating back to when ships were first powered by means other than manpower (oars) or wind (sails). Some reports have it that the term “bunkering” came into use when coal was the fuel of choice for powering steam ships. The “bunker” was the dump in which the coal was stored for firing the boilers of steam ships. Coal as a fuel for the powering of ships has long since been…

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The “Petrol Station” Business

The “Petrol Station” Business

“My wife always complains that I don’t take her anywhere expensive… So I take her to a gas [petrol] station.” –Unknown– A filling station is a facility from which fuel, lubricants and other products for motor vehicles are sold. Most common of fuels sold are: Gasoline, which is generally referred to as gas in the U.S. and Canada, or petrol in most other countries. In the Nigerian industry it is known as Premium Motor Spirit (PMS). Diesel, which is known in the Nigerian industry as Automotive Gas Oil (AGO). Kerosene,…

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Going Into the Oil Business In Nigeria

Going Into the Oil Business In Nigeria

“The Kingdom of Heaven runs on righteousness, but the kingdom of earth runs on oil!” –Ernest Bevin– The Right Honourable Ernest Bevin, British Foreign Secretary (1945 – 1951), can be forgiven for making the cynical statement above during a heated debate in the British Parliament, given the dominance of oil in human affairs for the past one hundred years or more. Petroleum, or crude oil, is a naturally occurring oily bituminous liquid, which forms the raw material for a wide range of fuels and other products. Modern industrial civilisation, with…

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Registering Your Business

Registering Your Business

“The first step in making rabbit stew is catching the rabbit.” –Isaac Asimov– The first step in the voyage to actualizing your concepts, plans and visions is registering your business. In Nigeria, that starts at the Corporate Affairs Commission (CAC), which has its headquarters at: Plot 420, Tigris Crescent, Off Aguiyi Ironsi Street, Maitama, Abuja. Nigeria. Website: new.cac.gov.ng Registration of Businesses with the Corporate Affairs Commission (CAC) Business activities may be undertaken in Nigeria through any of the following vehicles: Sole Proprietorship; Partnership; Private or Public limited liability Company; Unlimited…

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The Nigerian Youth and Entrepreneurship

The Nigerian Youth and Entrepreneurship

My son is now an ‘entrepreneur.’ That’s what you’re called when you don’t have a job. -Ted Turner (founder of CNN)- The concept of entrepreneurship (as distinct from other forms of labour) was first established in the 1700s, and the meaning has evolved ever since. There are many descriptions of the entrepreneur, but the one we find most appropriate for our circumstances is from business expert, Peter Drucker (1909-2005): “The entrepreneur always searches for CHANGE, responds to it, and exploits it as an opportunity.” Thus, every change (whether generally perceived…

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