FG To Establish Sustainable Plan for Shipping

 The federal government of Nigeria is set to establish a sustainable plan for the shipping industry.

The plan would ensure that the government provides intervention at various segments while the industry is actually operated by the private sector as it is been practice in many developed maritime nations.

The Minister of Transport, Hon. Rotimi Amaechi revealed this at the maiden edition of the Nigerian Ship Finance Conference and Exhibition NISFCOL which held in Lagos last week.

Rotimi Amaechi, who was represented by the Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA) Dr. Dakuku Peterside, noted that the federal government was already working with stakeholders on the issue of funding vessel.

“We are working with Singaporean investors to float a national shipping line. The iron and steel industry will also be supported due to its crucial role” Amaechi said.

Also speaking at the event with the theme; “financing sustainable maritime development in Nigeria”, Mr. Taofeek Adegbete stressed the importance of stakeholders partnering to support the industry.

He further explained that his firm in collaboration with a Norwegian shipping firm has sent fifteen Nigerians from the Maritime Academy of Nigeria (MAN) Oron to study the process of making ships abroad.

Mr. Rotimi Fashaki from NIMASA also decried that the high cost of import duties at the West African shipyard has halted ship production since 2012.

He stated that it became cheaper to build a vessel outside than in Nigeria, he further stressed the need for the review of import duties to remedy the situation.

Why responding to question on scrap vessel, the DG NIMASA, Dr. Dakuku stated that, “a new act would have to be established to enable investors build ship recycling plants, there is enough metal scraps to enhance our economy”

He further said the outcome of the conference, will bring policies and actions that will add value to the industry.