NAN-H-57
Act
By Racheal Ishaya
Abuja, Jan. 15, 2017 (NAN) Dr Dakuku Peterside, the Director-General, Nigerian Maritime Adminsitration and Safety Agency (NIMASA), has described the Coastal and Inland Shipping (Cabotage) Act 2003 as a blessing to the country’s maritime industry.
Peterside said it was a blessing because its proper implementation has led to the reshaping of the maritime industry.
The director-general made this known in an interview with the News Agency of Nigeria (NAN) in Abuja.
Highlighting some of the benefits, he said it had made way for local players in the industry to own ships and also gain employment on board foreign vessels.
Cue in audio (Peterside on Act)
“Indeed there are many benefits we have already gotten from enforcing the Cabotage Act.
“Before the passage of the Cabotage Act in 2003, less than 12 per cent of the vessels that ply our coastal waters was owned and flagged Nigeria. Today it is between 60 and 70 per cent of the vessels.
“Before the coming into force of the Cabotage Act, we had less than 15 per cent of Nigerians onboard vessels that trade within our coastal waters; today we have above 60 per cent. So we have more Nigerians on board vessels that ply our coastal and inland water ways.
“Before now, nobody can say that any vessel was built in Nigeria before 2003 but now a few. The number is still insignificant or unremarkable but at least we have made progress.
“A number of vessels have been built in Nigeria. At some point we collaborated with West African Shipyard in Onne; they were building vessels and now we have Elshan in Porthacourt. ‘’
- Cue out audio
The NIMASA boss lamented the underdevelopment of steel and aluminum industries in the country which had stalled progress of local production of ships in the country.
“Importantly, the capital outlay for building a vessel is huge and very often our Nigerian financial institutions are not ready to go longtime. Investing in ship building requires that we invest long time.
“Most of our financial institutions want to do short time, get their money and get out. But if you are to support ship building, it must be long time,’’ he said. (NAN)
RI/YEE/IA
Edited by Emmanuel Yashim/Idris Abdulrahman
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