The Federal Government is said to save $100 million annually as the Nigerian Maritime Administration and Safety Agency (NIMASA) will soon take delivery of largest modular floating dockyard on the African continent, according to Dakuku Peterside, director general/CEO.
This will be a direct savings from the dry docking of vessels operating in Nigeria, which are mostly done outside the country at the moment. Peterside said the Agency will partner with the private sector to run the dockyard.
He restated the commitment of the agency in collaboration with the supervisory ministry to provide enabling environment for the private sector to thrive.
Speaking at the world press conference in Lagos, Peterside said the agency’s aim is to target 100 percent cabotage compliance in the nearest future, adding that it has been able to achieve 20 percent in building cabotage vessels from a completely foreign denominated era.
He cleared the air of erroneous impression that Nigeria has not made progress with the cabotage regime, saying Nigeria has made a lot of progress.
According to him, before the cabotage regime came into being, less than 12 percent of Nigerians were on board vessels operating in Nigerian waters, today, over 60 percent of workers onboard vessels operating under the cabotage regime are now Nigerians.
“The issue of the cabotage vessels financing fund is one we have taken a critical look at and I can categorically say that we are addressing the issues militating against the fund being fully operational and accessible”, the director general said.
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