Despite assurances by the Federal government that it would change its trade policy from the present Free on Board, FOB, to Cost, Insurance and Freight, CIF, before the end of last year, there seem not to be light at the end of the tunnel.

The FOB makes it mandatory for the buyer to determine who ships his goods, who insures the goods and the  port of destination, while the CIF ensures that the seller determines who ships and who insures the goods bought from him.

Presently, goods bought from Nigeria are on FOB basis while Nigeria’s trade with other nations is on CIF basis.

The position of the government which was made known to Vanguard last year by the Special Adviser to President Goodluck Jonathan on Maritime matters, Mr. Leke Oyewole, assured that the change would by made before the end of last year.

However, in a chat with Vanguard at a breakfast meeting with stakeholders organised by the Nigerian Shippers Council, NSC, over its recent appointment as economic regulator for the ports, Oyewole, said he could not say exactly when the new policy will come into effect.

According to him, “I did not promise anything, that was beyond anything I would have promised but we are working on it and I can tell you authoritatively today also that we are on it and closer than it was last year.

“It is a major thing that some people hijacked long ago, you know exactly that not a drop of Nigerian crude oil has been carried on a Nigerian ship from this country to anywhere in the world, it has never happened.

“So breaking such jinx is not something that anybody can promise but we are working to ensure that it is realised.”

On when the new policy is expected to take effect, the Special Adviser to the President said “President Jonathan is determined to deliver on it before he goes,” he concluded. Oyewole had told Vanguard, that work had been completed on the document for the change in policy, so as to help indigenous operators.

He explained that a document to that effect had been completed and inputs from the Ministries of Finance, Trade and Investment, Petroleum and others, had been made after it went to the President.

According to him, all that was left now was for the Economic Management Team, EMT, to take a final look at it before it returns to the President for assent into law.

He said: “The EMT always has a long list of issues to attend to. They were to have met last month but it was not possible because of some reasons. But I can tell you that within this month, most likely, it will be discussed and when discussed and agreed upon at that level, it will be left to the President to just sign. Once that happens, it becomes an order.”