Funding constraint stalls establishment of national fleet


By Godfrey Bivbere & Joshua Yousouph

The Director General of the Nigerian Maritime Administration and Safety Agency, NIMASA, Dr. Dakuku Peterside said that the inability of local investors to raise funds for equity participation has stalled the establishment of a national fleet and licensing of private national carriers.

Dakuku who disclosed this in Lagos, said that the recession has made it difficult for Nigerian ship owners to raise    funds to take up the 60 percent equity.

Peterside Dakuku

On the designation of private carriers as national carries, the NIMASA boss blamed practitioners for not coming forward to apply to for the National carrier status.

He said that the Minister of Transportation, Rotimi Amaechi has made it clear from day one that the National fleet envisaged by the Federal Ministry of Transportation with the support of NIMASA is one driven by the private…

Read More…..Vanguard Newspaper