…Jamoh Urges Indigenous Shipowners to Take, Invest what’s available and battle for more!***
The Nigerian Maritime Administration and Safety Agency (NIMASA) has assured that Government would entrench a regime of financial and monetary incentives, in a bold bid to ensure that shipping thrives, in the country.
The NIMASA Director General, Dr. Bashir Jamoh stated this at the Shipowners’ Association of Nigeria (SOAN) End-of-Year Dinner and Gala night in Lagos, reiterating that the Federal Government has exempted local shipowners from paying import duty on brand new vessels.
L-R: Vice President, Federal Republic of Nigeria, Prof. Yemi Osinbajo, GCON; President Muhammadu Buhari GCFR and Director General, Nigerian Maritime Administration and Safety Agency NIMASA Dr. Bashir Jamoh OFR, during the President’s Birthday Celebration in Abuja.
He, however, expressed discomfort, that since the authorities granted an exemption to local shipowners from paying import duty on brand new vessels, no Nigerian Shipowner had seized the initiative, to utilise the window, by acquiring a brand new vessel.
Jamoh highlighted that the Federal Government has already mandated the Central Bank of Nigeria (CBN) to provide forex to shipowners for ship acquisition at an official rate, rather than at the exorbitant black market rate, tasking SOAN and its counterparts, to take advantage of the incentives as well as the planned disbursement of the Cabotage Vessels Finance Fund (CVFF); so as to effectively increase Nigerian fleet and end foreign domination of the nation’s Coastal trade.
L-R: Vice President, Federal Republic of Nigeria, Prof. Yemi Osinbajo, GCON; President Muhammadu Buhari, GCFR; Director General, Nigerian Maritime Administration and Safety Agency (NIMASA) Dr Bashir Jamoh OFR and the Honourable Minister of Aviation, Senator Hadi Sirika during the President’s Birthday Celebration in Abuja.
“The government has approved zero duty for imported new ships, with older ones attracting higher duty, while the second incentive was the Central Bank of Nigeria (CBN) monetary incentive that guarantees forex at official rate for ship acquisition, rather than at the exorbitant black market rate, and the recent approval for the disbursement of the cabotage vessel financing fund (CVFF),” Jamoh indicated, stressing that Government’s humongous investment in the Lekki Deep-sea Port would remain a mirage until Nigerian stakeholders acquired bottoms.
He pointed out that one of the first thing he learned, was that wherever shipping had thrived in any part of the world, Government had played a credible, observable pivotal role.
Consequently, he pledged on behalf of the authorities, to entrench a very conducive enabling environment, by ensuring that Shipowners are not denied the assistance they required, timely.
“So, I try as much as possible to weigh the kind of assistance the Nigerian government can offer the shipowners in the environment they operate,” he pointed out.
L-R: Former Governor of Ekiti State, Dr. Kayode Fayemi; All Progressives Congress APC Presidential Candidate, Bola Ahmed Tinubu and Director General, Nigerian Maritime Administration and Safety Agency, NIMASA, Dr. Bashir Jamoh OFR during the President’s Birthday Celebration in Abuja.
He was however aghast that Shipowners were bickering over the value of the CVFF, even to the point of threatening to sabotage its disbursement, stressing that he would advise that they accept it, invest what they have, while fighting for the restoration of whatever they believed, remained.
“It is high time we came together and ensure we benefit from what God has given us, and stop foreigners from taking over the coastal trade,” Jamoh stated, stressing that Government would ensure observable transparency.
Asking: “What do the shipowners really want?”, the NIMASA Boss said he believes that the indigenous Shipowners should be more interested in wrestling the batton of powers by subduing foreign domination, rather than pursuing actions that would further elongate, foreigners’ continuous milking of the country, simply because they have requisite ships.
“Anyone getting this fund will get it on merit, mutual understanding, and based on the agreement with the bank and NIMASA.
“It is subject to the auditor general’s audit, Federal Ministry of Transportation audit and external auditors’ audit, so it is open. Instead of fighting to see the balance, concentrate on seeing how we can disburse what is available, increase our fleet and benefit from this trade that is very precious.
“All the investments at Lekki deep seaport will be useless if ships do not go there. So, why don’t we put heads together, get the funds, acquire the ships and make our own ports lively instead of struggling to quarrel and fight!”, Jamoh further admonished.
A highly impressed SOAN Arrowhead, Dr. McGeorge Onyung on behalf of the association, actually scored Dr. Bashir Jamoh, a clean 100 percent, noting that the agency’s position was genuinely, food for thought.
