Connect with us

Business News

Peterside: Nigeria will soon export crude with its national fleet

Published

on

Dakuku Peterside, director general of the Nigerian Maritime Administration and Safety Agency (NIMASA), says the country will be able to lift its own crude for export immediately the national fleet begins operation.

Speaking at a media breakfast meeting on the sidelines of the ongoing Nor-Shipping Conference and Exhibition in Oslo, Norway, Dakuku said this move will bring an end to the present arrangement where Nigeria sells its oil on free on board basis to customers.

A statement by Isichei Osamgbi, NIMASA’s head of corporate communications, quoted the DG to have said that the new national fleet will be owned 49% by a technical partner and the balance of 51% by Nigerian investors.

According to the plan, the Nigerian investors will hold equity in lots, so there will be no domineering shareholder.

The former lawmaker said the government has also acquired security assets to boost the policing of its waters.

These assets, which include patrol boats, helicopter, unmanned air vessels and naval ships, were acquired under the ‘Deep Blue Project’ that will be operational by September.

Peterside urged investors to tap into the potentials of the maritime sector in Nigeria saying the government has incentivised the sector with offers of tax holidays and institutional support.

He said Nigeria accounts for 70% of seaborne trade into West Africa and is endowed with the world’s ninth largest hydrocarbon deposits.

Click to comment

You must be logged in to post a comment Login

Leave a Reply

Trending