FG Commence Refloat Of Shipping Line With Target View $10bn chartering Market
Speaking at stakeholders meeting in Lagos, Minister of Marine and Blue Economy Adegboyega Oyetola who met with various maritime stakeholders with a view to chatting a new course for the sustainable development of the nation’s marine sector said that Nigeria is a jewel and must be ready for global competitiveness as it hopes to target $10billion Ship charter market.
THE Federal Government through the newly created Ministry of Marine and Blue Economy on yesterday announced moves to commence refloat of the moribund National Shipping Line with a view to targeting the $10billion ship chartering market.
“The ministry’s decision to consider the re-establishment of a National Shipping Line, through a strategic PPP arrangement, is borne out of our desire to capture a substantial share of the estimated $10 billion annual ship charter market within the country.
“Let me hasten to say that this initiative will not seek to impede the growth of local players but rather to provide an avenue for them to create and extract more value from the sector, especially through ship construction, maintenance, and repairs. “This would enable our local businesses to better leverage the Carbotage Act, which gives Nigerians the exclusive right to control locally generated seaborne trade.
Similarly, Permanent Secretary, Federal Ministry of Marine And Blue Economy, Dr. Magdalene Ajani, said the stakeholders forum has been designed for the ministry to inform, equip and enable it share knowledge on critical issues affecting the maritime sector.
As such, this Stakeholders Engagement Roundtable is necessary as it enables us to present our challenges, jointly brainstorm on the solutions with a view to chart a roadmap for a Maritime Industry that is sustainable technological advanced and innovative,” she said.