Daily Independent Online.
*
Thursday, June 17, 2004.
Cabotage: Malaysian shipping firm
offers FG $400 million
By Muyiwa Dare,
Maritime
Reporter,
Lagos
As part of the efforts to assist Nigeria in
the implementation of the cabotage law, the Malaysian International Shipping
Corporation (MISC) has donated $400million to the Federal Government for the
purpose of acquiring new vessels.
According to the Director General of the National Maritime
Authority (NMA), Mr. Ferdinand Agu, this is part of the measures to ensure that
Nigeria remains on the International Maritime Organisation’s white list,
since the cabotage regime took effect in May 2004.
He said an institutional agreement has been
signed between Nigeria and the Malaysian firm, adding that the NMA has also
embarked on series of capacity building measures in the areas of industry hardware,
provision of shipyard and facilities that will be used for vessel repairs.
He said this is aimed at increasing the
vessels in Nigeria’s fleet for cabotage implementation since the NMA is
conscious of President Olusegun Obasanjo’s quest for more vessel
ownership in addition to the existing MV Trainers vessel.
Agu added that the Minister of Transport,
Abiye Sekibo, has given NMA necessary incentives to reposition the maritime
sub-sector of the economy, adding that the acquisition of new vessels will add
value to the national economy through the latest initiative aimed at providing
jobs for scores of trained seafarers who have vital roles to play in the
cabotage regime.
The NMA boss criticised beneficiaries of
the failed Ship Acquisition and Ship Building Fund (SASBF) loan scheme who
refused to repay the loan.
Agu, at a forum in Lagos recently, said that a total of $92
million was disbursed as loans out of which the public sector got $72 million
while the private sector got $20million.
