Nigeria: Nimasa Deploys Floating Dock to Stem N180bn Annual Capital Flight

14 February 2024
Leadership (Abuja)
By Yusuf Babalola

The Nigerian Marítime Administration and Safety Agency (NIMASA), on Tuesday, set to deploy its N50 billion modular floating dock for dry docking of vessels operating on the nation's waters to stem capital flight,

LEADERSHIP reports that NIMASA took delivery of the N50 billion modular refinery in 2018 with the aim of ensuring that ships of various sizes calling at Nigerian ports repair their vessels in the country and thus help save the country from capital flights as a result of dry docking vessels outside the country.

According to the former president of the Ship Owners Association of Nigeria (SOAN), Engr. Greg Ogbeifun, Nigeria is losing up to N180 billion annually to neighbouring countries due to lack of ship repair yards in the country.

However, in a press statement by the assistant director, Public Relations, NIMASA, Osagie Edward, the agency has commenced preparations to deploy the Modular Floating Dock for commercial operations.

According to him, the agency has moved the Floating Dock to a jetty at the Standard Flour Mills in Apapa in preparation of its movement to the scheduled operational base at the Continental Shipyard, Apapa.

The heavy 50-ton cylindrical spuds, which are for anchoring the dock, are being prepared for installation.

Also speaking against the backdrop of the movement, the director general of NIMASA, Dr Bashir Jamoh, assured stakeholders that Nigeria will soon save foreign earnings with the commencement of operations of the dock.

"We are moving slowly but steadily to our destination. Today, we are lifting out the cylindrical studs to be prepared for piling at the Continental Shipyard where the Floating Dock is scheduled to commence operations.

"These spuds have to be firmly installed before we can tow the Floating Dock there. We assure stakeholders that very soon, Nigeria will save foreign earnings with the commencement of operations of our Dock," Jamoh stated.

Earlier, the Nigerian Ports Authority (NPA), had leased designated areas at the Continental Shipyard for the operations of the Modular Floating Dock last year.

The areas include; the Dolphin Jetty, waterfront of the jetty adjourning the slipway, an administrative block, a construction, welding and mechanical workshop and a civil maintenance workshop, among others.

The project will be run on a Public Private Partnership (PPP) arrangement.

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