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Oyetola pledges to abolish undue crude charges, birth national carrier

By Adaku Onyenucheya
06 September 2023   |   6:59 am
Minister of Marine and Blue Economy, Adegboyega Oyetola, has pledged to strengthen Public Private Partnership (PPP) arrangement for abolition of undue charges on crude oil exportation and end to menace of charter vessels. He also expressed the readiness of the newly-created ministry to develop infrastructure in lakes and coastal bodies facing towns and cities across…

Minister of Marine and Blue Economy, Adegboyega Oyetola, has pledged to strengthen Public Private Partnership (PPP) arrangement for abolition of undue charges on crude oil exportation and end to menace of charter vessels.

He also expressed the readiness of the newly-created ministry to develop infrastructure in lakes and coastal bodies facing towns and cities across the federation to further attract tourists for maximum revenue generation.

The minister spoke during a working visit to the Nigerian Maritime Administration and Safety Agency (NIMASA) office in Lagos, in continuation of his tour of agencies under the ministry.

He equally sought investment in the fishing sector since most of the imported shrimps are available in the nation’s waters.

Interacting with the management and staff of the agency, Oyetola advised that no effort should be spared to properly harness the country’s maritime potential, increase revenue and stem the tide of capital flight in the sector.

The minister expressed satisfaction with NIMASA’s Modular Floating Dock, which, according to him, would generate more jobs for Nigerians.

The minister, who decried the rates for charter vessels conveying crude, stated that the time has come to secure stakeholders’ buy-in, as the nation needs a national carrier, especially through a PPP arrangement to overcome the challenge.

His words: “I am convinced we need a national carrier, especially through a PPP arrangement. We are about the only country that is an OPEC member that still charters vessels to carry our crude, where 30 per cent of the charge goes to freight. We must find a way around it.”