2020: Optimism for Transformation in Maritime Sector
For 2020, perhaps the key word on the minds of many stakeholders is optimism for the best to come in the country’s maritime industry. This is for obvious reasons. The results recorded in the past few years, particularly last year, give an indication as to the direction in which things are moving, and what to expect.
The policy has since its announcement gladdened the hearts of many operators, who are full of expectations. Bareboat charter of vessels has also witnessed an increase, while foreign-owned vessels on Nigeria’s Cabotage register have witnessed a decline. Dakuku disclosed that, currently, there were about 200 vessels captured in the cabotage register. He added that about 68 per cent of vessels trading within the country’s maritime space were Nigerian-flagged.
CVFF was created after the suspension of SASBF and handed over to some banks to manage. About four years ago, industry operators had renewed their call for the disbursement of the fund. However, the Minister of Transportation, Rt. Hon. Chibuike Rotimi Amaechi, had objected to this. Amaechi later gave conditions.
“Part of the strategies include the 2050 African Integrated Maritime Strategy and its Plan of Action, including a roadmap for the incremental implementation of the strategy in line with international maritime law, which were adopted. This is in addition to the Yaoundé Code of Conduct, the Djibouti Code of Conduct, and the Lome Charter, among other strategies.
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