NAN-HE-8
Partnership
By Uche Eletuo
Lagos, May 25, 2017 (NAN) The Cargo Defence Fund (CDF) and Multimix Academy, Lagos, have agreed to collaborate to address the challenges facing importers and exporters in the nation’s maritime industry.
The Secretary of the Fund, Mr Daniel Okwudiri, disclosed this on Thursday during a visit to the Chief Executive Officer of Multimix Academy, Dr Obiora Madu, at Surulere, Lagos.
He said that the synergy between the two organisations in the maritime sector was timely.
The News Agency of Nigeria (NAN) reports that the Cargo Defence Fund, an initiative of Nigerian Shippers’ Council, is a company limited by guarantee set up as a Cargo Protection & Indemnity (Cargo P & I)scheme.
It is established to mitigate losses incurred by shippers, especially small time importers and exporters, who may not have the financial muscle to pursue their legitimate maritime claims.
The Fund is a mutual scheme to provide cover for particular risks as agreed upon by members, focus is on Nigerian importers and exporters. It became operational in 2001 and is managed and administered by a Board of Trustees representing major interest groups and stakeholders.
Okwudiri said the partnership became imperative following what he called the short-changing of Nigerian importers and exporters by their foreign counterparts.
“The partnership will see to it that our importers and exporter, who are being shortchanged in international trade seek redress.
“If the collaboration is properly done, it has the potential to take away government’s attention from oil to the logistics sector.
“If the required attention is given to the maritime sector by the government, it has the capacity to return the country to its pre-independence glory,” he said.
In his remarks, Obiora called for enlightenment of stakeholders on how to access Cargo Defence Fund, saying not all importers and exporters are aware of the Fund.
“Nigerian importers have suffered losses in international trade because of a `weak position’ even when they are the ones paying the bills.
“Foreigners take advantage of us and this is why the cargo fund is very essential, especially for all importers and exporters.
“All of us should join hands to `bake a bigger cake’ that will go round and stop feasting on just the oil sector,” he said.
Obiora said prior to the establishment of the funds, the council noticed that many Nigerian shippers, who could not afford the cost of pursuing their legitimate claims had abandoned it.
To provide a viable solution to the problem, he said the council established two similar schemes initially known as the Cargo Protection and Indemnity Fund and the Cargo Litigation Fund. (NAN)
EUC/DA
Edited by Dele Akinsola