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C&I Leasing grows shipping fleet to 21

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C&I Leasing Plc has launched a new 60 metres 80-ton bollard pull AHTS vessel named MV Bello 2015 to buoy its shipping fleet to 21 vessels.

The vessel, billed to execute a five-year contract for Shell Petroleum Development Company of Nigeria Limited, was supported by the Bank of Industry (BoI), and First City Monument Bank (FCMB).

The Managing Director, C$I Leasing, Andrew Otike-Odibi, at the official unveiling in Lagos, said the commissioning of MV Bello 2015 marks another milestone for C&I Leasing Plc.

He said the 80-ton bollard pull AHTS vessel is the biggest vessel in the fleet, describing the feat as a testimony of its diligent and efficient service delivery to its clientele.

Otike-Odibi said: “This new addition to our fleet is a strong demonstration of the government’s commitment to developing local capacity especially in the oil and gas industry.

“In 26 years, we have grown from a finance lease business to now a logistics support business in Nigeria and Ghana. This has seen us grow our fleet in the marine business to 21 vessels cutting across different oilfield service vessels such as crew boats, patrol boats, tug boats, pilot boats and platform support vessels.

“We believe the future for our business is bright, even with the difficult operating terrain in the country,” he said.

The vessel was named after its pioneer Chairman, Air Vice Marshall Abdullahi Dominic Bello (rtd), whose daughter officially unveiled the vessel.

The Group Head, Large Enterprises, BoI, Joseph Babatunde, who represented the Managing Director of the Bank, said: “It’s been a wonderful collaboration, and we are determined to expand our business relationship with C$I Leasing.”

He said the projects are aimed at improving local participation in the oil and gas industry.

“We can’t leave this industry in the hands of foreigners completely; we need more indigenous players to be able to take our destiny in our hands, and this is why I have to commend C$I Leasing. This is a venture that will create employment and add value to the national economy,” he added.

The Managing Director/Chief Executive Officer, FCMB, Adamu Nuru, said: “We believe in partnerships and relationships that will grow this economy. We have invested in the right resources, which support various specialised industries, and this project that we are commissioning today is a testimony to such support. I expect that the local content law will enable more Nigerian industries to spring up and exploit the financing benefits in-country.



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