NIMASA to end capital flight, job losses in economy with national fleet

Nigerians will be able to lift its nation’s crude oil for export if the national fleet comes into operation, Dakuku Peterside, director general of the Nigerian Maritime Administration and Safety Agency (NIMASA) has assured.

Peterside, who was speaking at a breakfast meeting on the sideline of the ongoing Nor Shipping Conference and Exhibition in Oslo, Norway, said the establishment of national shipping lines will end capital flight, associated with the present arrangement of selling oil on free on board (FoB) basis to customers.

While assuring that it will also lead to employment creation, he said the new national fleet will be owned 49 percent by a technical partner and the remaining 51 percent will be reserved for Nigerian investors.

According to him, Nigerian investors will hold equity in lots to avoid having domineering shareholder. He however stated the planned national fleet will be private sector led to ensure sustainability and profitability.

“The national fleet is part of the country’s new strategic plans on developing the blue economy, designed to tap its maritime potentials. While opportunity in crude freight and right of first refusal to lift cargo generated by all tiers of government are just some of the much potential in the sector,” he said.

He invited local and foreign investors who are interested in the project to partner with the country. He said the country is also taking its maritime security serious and has invested in the acquisition of security assets to boost the policing of its waters.

He listed the assets to include patrol boats, special mission aircrafts, helicopters, unmanned air vessels and special mission ships, adding that the assets, acquired under the ‘Deep Blue Project’, which he described as homeland security solution that will be operational by September this year.