A Rivers State indigenous firm, BGAM Services Nigeria Limited, has been awarded the Federal Coastal Fisheries Terminal (FCFT) contract with the mandate to boost Nigeria’s industrial fishing sector.

Chief Executive Officer of the firm, Chief Lucky Brown, speaking shortly with newsmen after receiving the FCFT, said the company is tasked with the comprehensive rehabilitation and development of the terminal.

He said the move is in line with the Federal Government’s Public-Private Partnership (PPP), aimed at leveraging private sector dynamism for national economic growth.

According to the CEO, the objective of the PPP arrangement is to transform the FCFT into a state-of-the-art, shore-based service hub for Nigeria’s industrial fishing sector, providing a one-stop solution for successful vessel and marine business operations across the Gulf of Guinea.

He explained that the terminal, which is situated near major offshore oil and gas production and distribution fields, will offer a 190-square-meter berthing space capable of accommodating various vessels.

“It will also feature a slipway for vessel repair and maintenance, a 1.5 million-litre capacity tank farm for petroleum product storage and distribution to marine vessels and onshore utilities, and another 1.5 million-litre tank for water supplies,” the BGAM Services boss said.

“Additionally, the facility will include loading and off-loading capabilities, cold storage for fish and other perishable products (catering to export and domestic markets), warehousing, office and administrative spaces for rent/leases, canteen and restaurant facilities, a weighbridge, and consistent power supply from both public grids and alternative sources like solar and diesel generators.”

Brown states that the Federal Coastal Fisheries Terminal is uniquely secured by a comprehensive network of private and national security apparatus, integrating the latest security technologies with Artificial Intelligence. He projected that the terminal would be “second to none in its class in its vision.”

He believed that the PPP model is exceptionally well-suited for such projects, affirming that under the regime, Nigeria would undoubtedly advance its fisheries industrialisation and achieve greater food security.

The new investment opportunities are expected to accelerate economic growth and position Nigeria at the forefront of an economic renaissance.