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NIMASA woos American investors

By News Express on 05/05/2017

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Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside, has used the opportunity of attending the Offshore Technology Conference (OTC) currently going on in Houston Texas, USA, to woo American investors.


Speaking on Thursday during a side event at the OTC, which has as theme, “Sub-Saharan African Oil & Gas Networking Session”, Dr. Peterside informed prospective investors of new developments in the Nigerian maritime sector, describing the Nigerian maritime industry as being full of golden opportunities. 

While stating that Nigeria allows income tax exemptions for infrastructural development in ship building, the NIMASA DG noted that there are financial incentives for ship building and ship scrapping with assurance of foreign repatriation of capital and profit.

In his words, “We ensure that we provide the basket of incentives to ensure that you get into the industry, maximise the opportunities in the industry for the benefit of both Nigerians and the investors.”

He stated that the commitment of President Muhammadu Buhari’s administration to ensure a drastic reduction in bureaucratic red tapes impeding investment in the country sees the Vice President, Professor Yemi Osibajo, coordinating the ease of doing business initiative project. Peterside added that the Presidential Enabling Business Environment Council has approved a national action plan to be implemented across priority areas which will enhance entry and exit of goods and services to spur inflow of foreign investment into Nigeria.

While answering questions from journalists shortly after his presentation, the NIMASA DG noted that the Federal Government of Nigeria is working to refloat a national fleet for the country, which process will be private sector driven.

According to him, “You will recall that the Federal Government of Nigeria through the Federal Ministry of Transportation is trying to refloat the national fleet. The difference now is that the private sector will drive the process while Government will serve as facilitator. That is the way we have chosen to address the issue of national fleet ownership.”

Dr. Timothy Okon of the Nigerian National Petroleum Corporation, who delivered the NNPC position at the event, informed that the Federal Government’s gas flare commercialisation programme is on course to attract significant and sustainable growth to the oil and gas sector.

Similarly, Brent Omdahl, a senior commercial officer with the American embassy in Nigeria said that the Donald trump administration is committed to improve on the trade relations between the United States and Sub Saharan Africa by encouraging more American companies to invest in the region. He said they have the mandate to have American investors explore available opportunities in both the oil & gas, and the maritime sector of the economy. He said the commercial department of the United States embassy has the mandate to facilitate seamless platform for American investors to interact with policy makers, and implementers in sub-Saharan Africa.

On his part, the Chairman, Senate Committee on Marine Transport, Senator Sani Yerima, assured that the legislature is committed to providing the legislative framework to enhance foreign investment in Nigeria, particularly, the maritime sector.

This position was re-emphasized by the Chairman House Committee on Maritime Safety, Education and Administration, Honorable Mohammed Umaru Bago.

The OTC is where professionals meet annually to exchange ideas and opinions to advance scientific and technical knowledge for offshore resources and environmental matters. This year’s event is themed “Sub-Saharan African Oil & Gas networking session”, which is seen as an added advantage to attaining ease of doing business in Nigeria, particularly in the maritime sector.

•Photo shows, R-L, The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside, Chairman, Senate Committee on Marine Transport, Senator Sani Yerima ,Chairman House Committee on Maritime Safety, Education and Administration,  Honorable Mohammed Umaru Bago and Thomas Chance of ASV Unmanned Marine Systems at the Offshore Technology Conference (OTC) currently going on in the US.

Source News Express

Posted 05/05/2017 12:17:27 AM


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