Floating dock to save Nigeria N36bn annually – NIMASA

The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside, has said the multimillion dollar floating dockyard owned by the agency will save the country about N36billion in capital flight annually once it commences operation.

Dr. Peterside also noted that effort was being made to create enabling environment for the growth of indigenous participation in shipping.

The NINASA DG, who made this known during an interactive session with journalists in Lagos, said the facility which would be operated on a Public Private Partnership (PPP) model would be located at a facility of the Nigerian Navy (NN).


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He said the Floating Dockyard would commence operations immediately after its commissioning by President Muhammadu Buhari.

He added that when fully operational, Nigerian ship owners and their foreign counterparts would no longer need to take their vessels outside the country for dry docking.

“Nigeria loses up to $100m annually simply because when our ship owners need to dry-dock their vessels, they mostly take them to neighbouring countries like Ghana and Cameroun, thus spending avoidable foreign exchange (Forex). When this facility is fully operational, it has the capacity to dry-dock any vessel in the country and save the much needed Forex,” he said.


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