Home Maritime NIMASA Calls For Review Of Nigeria’s Terms Of Freight

NIMASA Calls For Review Of Nigeria’s Terms Of Freight

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L-R: Bassey Adie of Loyz Marine Nig. Ltd; Greg Ogbeifun of Starz Marine Nig. Ltd and Rita Uruakpa, director, Cabotage Services of NIMASA, at the Nigerian Oil and Gas Opportunity Fair (NOGOF) 2023 held in Yenagoa, Bayelsa State recently.

Bashir Jamoh, the director-general of the Nigerian Maritime Administration and Safety Agency (NIMASA), has said that the policies of the Agency are tailored to complement the efforts of the Nigerian Content Development and Monitoring Board (NCDMB) to grow the Nigerian economy through the oil and gas sector.

The NIMASA DG, who was represented by Rita Uruakpa, the Agency’s Director of Cabotage Services, at the 2023 Nigerian Oil and Gas Opportunity Fair (NOGOF) in Yenagoa, Bayelsa State, urged stakeholders to consider a change of trade terms in the Oil and Gas sector from the Free on Board (FOB) to the Cost, Insurance and Freight (CIF) model.

According to Jamoh, the efforts of the NCDMB at helping in the development of the indigenous maritime sector had not gone unnoticed, adding that NIMASA will continue to strive for the development of the maritime sector by pursuing policies that will ensure the indigenous capacity is grown, which in turn will impact on fleet expansion to enable Nigerian shipowners to participate in the affreightment of the products.

“We must also create a suitable and sustainable business and investment environment that will afford indigenous operators opportunities to participate in the oil & gas industry with a view to accelerating Nigeria’s income for the Oil Industry which in turn will impact our GDP,” he said.

On his part, Simbi Wabote, the executive secretary of the NCDMB, charged firms operating in the sector to prepare themselves adequately, restating that the oil and gas industry is highly technical and does not compromise safety and standards.

“If someone gives you projects he intends to execute in the next two years; Nigerian companies, having listened to the opportunities, should go back and continue to build their capacities in readiness to actively participate,” he said.

He also challenged relevant agencies to address the worrisome security challenges, particularly oil theft in the Niger Delta, as this would enable the production of hydrocarbons at reasonable costs and profitability.

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