NIMASA DG says vessel replacement key to Cabotage success

[bayo4luv]

A deliberate policy to assist indigenous ship owners in Nigeria to replace old vessels in their fleet is essential for the Cabotage regime to succeed in the country.   

This view was expressed by the director general of the Nigerian Maritime Administration and Safety Agency (NIMASA), Temisan Omatseye, in Abuja shortly after a meeting with Norwegian ship owners who were in the country to explore avenues of collaboration with Nigerians in the maritime sector. 

Omatseye explained that his meeting with the seven Norwegian firms was to facilitate the transfer of their ships onto the Nigerian Flag under a Bareboat Charter arrangement. The vessels which at the moment are lying fallow in Norway will be leased to Nigerians while NIMASA will serve as a guarantor in the arrangement.   

He noted that there are lots of interests in the Nigerian maritime sector which he described as very buoyant, adding that the need for better Nigerian participation cannot be overemphasised. "We are looking at LPG Tankers, LNG Tankers, and Very Large Crude Carriers (VLCC). With this arrangement, NIMASA can now compel the international oil companies to give contracts to indigenous ship owners without fear of substandard vessels", he said. 

While restating that NIMASA will not compromise on safety standard, the director general added that the agency is desirous to have more indigenous participation in the nation's maritime trade.   

The NIMASA helmsman restated his belief of a bandwagon effect from other ship owners from other parts of the world to seek collaboration with Nigerians for the growth of the Nigerian maritime sector. Omatseye also stated the need for more fiscal incentives for shipping in Nigeria.   

"I sincerely believe that we should grant pioneer status to all those desirous of setting up shipyards in Nigeria. In addition to giving them tax holidays, we should also look at tax waivers for all those importing ships into the country. The industry is capital intensive and transformation can only be a graduated process", he said. 

The management of NIMASA has a ten-year strategy agenda, which the director general said has the potential of leading Nigerian maritime sector to greater heights when fully implemented.

NIMASA DG says vessel replacement key to Cabotage success

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