NIMASA projects N1 bn monthly revenue from modular floating dock operations

The Nigerian Maritime Administration and Safety Agency (NIMASA) on Thursday said it hopes to be generating at least N1 billion monthly revenue from its modular floating dock, when operations begin.

Director General of NIMASA, Dr. Bashir Jamoh, on the occasion of his 100 days in office, told newsmen in Lagos that the agency’s floating dock would come into full operations, taking advantage of ship repair services, which is a key part of shipping development.

He said that the Agency was already in talks with the Nigerian Ports Authority (NPA) to enable it move the floating dock from its present location to the NPA-owned Continental Shipyard.

“The second leg of the shipping development has to do with ship repairs.

“We have the Modular Floating Dock, so any moment from now, we will move our floating dock from Naval Dockyard to the Continental Shipyard, and then enter into agreement with the NPA for the Continental Shipyard, and a managing partner,” he said.

Jamoh, however, noted that “It is one thing to have the floating dock, it is another thing to have stakeholders’ confidence to take their vessels for repairs in that modular floating dock.

“But, we already have those who are interested. Our challenge is just to ensure that we move that floating dock and commence operations. “

The NIMASA DG disclosed that in its efforts to get the operations started, it had signed a Memorandum of Understanding (MoU) with some International Oil Companies (IOCS) that are in business with the Nigerian National Petroleum Corporation (NNPC) for their patronage.

NIMASA would also be filing for approval with the Infrastructure Concession and Regulatory Commission (ICRC) on the Public Private Partnership (PPP) arrangement for managing the dock, Jamoh said.