July 25, 2024

NIMASA Embarks on PPP to Rescue Floating Dock

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NIMASA yesterday laid to rest speculations that its floating dock has been sold since it remained unused so many Months after acquisition.

Director General NIMASA, Dr Bashir Yusuf Jamoh said the Agency has looked at the intricate nature of the floating dock and with the understanding that NIMASA does not have the technicalities needed to keep it fully functional and profitable, decided to embark on Public Private Partnership (PPP).

Jamoh revealed that NIMASA is partnering with the Nigeria Ports Authority (NPA) and a Managing Partner who will handle the technicalities involved in the running of the floating dock.

Speaking to Journalists at the Agency’s conference Hall, the NIMASA boss explained that, ” the floating dock has been handed to PPP and from our findings, we found out that the floating dock is bankable and doable and we have gone ahead with our Managing Partner and a co-owner, the NPA. The privatisation has been approved by the National Executive Council (NEC).”

Continuing, Jamoh gave clarifications as to how the PPP will function, “when we privatise, the managing Partner can then move the floating dock to it’s proper position, along with our partners, we will ensure that the dock is functioning and attracting commensurate patronage from ships needing repairs.”

Jamoh lamented that Nigeria is losing the business of ship repairs to countries like Ghana and South Africa but once the NIMASA floating dock is fully functional, this would ensure that most ships needing repairs within the shores of Nigeria will be repaired here, so that needed funds would remain within the Nigerian Maritime industry.

Jamoh dismissed the insinuation in some quarters that partnering with the NPA is not a good idea and might bungle or derail the planned partnership with the foreign Managing partner. According to the NIMASA henchman, “you cannot assert that because NPA’s floating dock didn’t work, therefore NIMASA’s won’t work, this involves a lot of technicalities, that’s where the foreign Managing partner comes in, you also need someone to bring in the much needed influx of ships for repairs, the NPA is also fully on ground as the Landlord of the ports, this partnership will work and the floating dry dock will be functional by the ending of first quarter of 2022,” he explained.

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