18 Aug

Daily Watch – Shallow waters hamper Warri Refinery, FAAN talks tough

  • Shallow waters are stifling crude lifting to Warri Refinery. The shallowness of the water channel leading into the Warri Port in Delta State could slow down efforts to put paid to Nigeria’s insufficient supply of fuel, as the channel has filled with silt and will need to be dredged before laden barges can navigate through. Warri port’s advantages include its proximity to Anambra, Imo, Enugu, Delta, Edo, Kogi, Ondo, Benue and others, for haulage of cargo, when compared with other operational ports based in Lagos.
  • The Federal Airports Authority of Nigeria (FAAN) has issued a seven-day ultimatum to all its debtors to settle all debts owed to the Authority or face the consequences. Debt owed by airlines, concessionaires, contractors and other users of the Authority’s facilities might be up to N18 billion.
  • Bristow Helicopters will pay over $600,000 as compensation and damages to victims of the ill-fated helicopter that crashed last Tuesday, killing six persons out the 12 on board. According to the International Civil Aviation Authority (ICAO), each victim is entitled to $100,000. They will get $30,000 as initial payments shortly after the accident and then get the remaining $70,000 three months after the crash.
  • CBN’s policy, which reduced ATM withdrawal limits to N60,000 a day, continues to draw criticism from unhappy customers who say that the policy could affect the capacity of small and micro businesses, especially during weekends.