By Godfrey Bivbere
The creation of a national fleet will end the capital flight and save the nation huge foreign exchange through the lifting of the country’s crude oil export.
Disclosing this at a media breakfast meeting on the sideline of the ongoing Nor-Shipping Conference and Exhibition in Oslo, Norway, Director General of the Nigerian Maritime Administration and Safety Agency, NIMASA, Dakuku Peterside, said such an outcome will end the capital flight, associated with the present arrangement where Nigeria sells its oil on a free-on-board basis to customers and will also lead to employment creation.
The NIMASA boss said the new national fleet will be owned 49 per cent by a technical partner and the balance of 51 per cent by Nigerian investors. According to the plan, the Nigerian investors will hold equity in lots, so there will be no domineering shareholder.
He said the planned national fleet will be private sector led for sustainability and…