FG To Refloat National Shipping Line Through Strategic PPP Arrangement - Oyetola
By: Bisi Akingbade
Oyetola disclosed this at the maiden event of 2023 Maritime Stakeholders Engagement Roundtable at the Lagos Continental Hotel in Lagos, that national shipping line will be established. through a strategic Public-Private-Partnership (PPP) arrangement.
He explained further that the target was to ensure that the share of the $10 billion which is spent annually on charter market in the country is captured.
The Minister however stressed the need for collaborative efforts for the plan of the government to be achieved, which will bring about the betterment of the maitime industry.
His words: “There is an urgent need for a collaborative effort to brainstorm and devise strategies to leverage our marine resources for the betterment of the economy and safety of our planet. It is imperative we come up with practicable ways of ensuring that our Inland Rivers, Lakes and Waterways are well utilised for cargo shipment and passenger transportation.
“This Engagement Forum is crucial to the development of the sector as it offers an opportunity for us all to collectively contribute our perspectives, ideas and offer relevant inputs that can propel the sector to the trajectory of success necessary to support the development of the economy as well as meet the expectations of Mr. President who took the courage to open up Nigeria to focus on the Blue Economy Value Chain.
“The zeal for a better life for Nigerians propelled President Bola Ahmed Tinubu GCFR to recently unveil 8 Presidential Priorities to address critical national challenges. These priorities are to be delivered through eight focus areas, namely: economic growth, food security, energy and natural resources, infrastructure development, security, healthcare, education, improved governance, and job creation.
“Our Ministry though new, is not resting on its oars and has continued to foster Inter-Agency collaborations and implement initiatives to promote Port efficiency, cargo shipment, maritime security and tap into the resources of the Seabed.
“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.
“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.
“Other anticipated outcomes include the creation of substantial job opportunities and the facilitation of increased trade and investment in the nation, reinforcing our collaborative and forward-looking approach”.
