The Nigerian Maritime Administration and Safety Agency (NIMASA) said it has signed a Memorandum of Understanding with Sternula of Denmark towards enhancing safe navigation of ships on Nigerian waters.
The MoU is expected to see Sternula providing full-scale Very High Frequency (VHF) Data Exchange System space capabilities to the Agency.
The MoU was signed by Jacob Weibrent of Sternula and witnessed by Jette Bjerrum, consul general of Demark to Nigeria.… Read the rest
The Nigerian Ports Authority (NPA) has announced a $1 billion reconstruction plan for Tincan Island, Apapa, Rivers, Onne, Warri, and Calabar port complexes.
The NPA also allocated funds for similar reconstruction as part of the new port development plan for the Badagry deep seaport, Snake Island, Burutu, and Ondo deep seaports.
The plans were disclosed on Wednesday, in a document titled ‘Consolidation of Superior Performance at the Nigerian Ports Authority 2023 — A Synopsis of the Authority’s Performance Improvement 2022-2023’.… Read the rest
The House of Representatives Committee on Maritime Safety, Education and Administration, says it will probe contractors who abandoned projects at the Maritime Academy of Nigeria, Oron, Akwa Ibom.
The chairman, Khadijah Ibrahim, stated this in Oron on Thursday when the committee visited the academy as part of its oversight functions.
Ms Ibrahim said that the committee would investigate all cases of project abandonment from the inception of the institution.… Read the rest
President Bola Tinubu has approved three new directives in the oil and gas sector to introduce fiscal incentives for related projects, reduce contracting costs and timelines, and promote cost efficiency in local content requirements.
This followed “extensive engagements, analyses, and benchmarking with other jurisdictions” a statement signed by the President’s Special Adviser on Media and Publicity, Ajuri Ngelale, read Wednesday.
The statement is titled ‘President Tinubu signs executive orders on oil and gas reforms.’… Read the rest
The Nigerian Maritime Administration and Safety Agency (NIMASA) has signed a Memorandum of Understanding (MoU) with Sternula Denmark on full-scale Very High Frequency (VHF) Data Exchange System (VDES) space capabilities between the Agency and Sternula.
The Director General of the Nigerian Maritime Administration and Safety Agency, NIMASA Dr Bashir Jamoh, OFR, who signed on behalf of the Agency noted that the international partnership to enhance vessel to vessel/ land communication in Nigeria will not only enhance safety and security of navigation in Nigerian waters, but also improve productivity of seafarers. … Read the rest
As the Nigerian Maritime and Safety Administration (NIMASA) plans to deploy its N50 billion modular floating dock, the federal government also eyes to generate N12 billion annually from the facility, saying it will help attain the blue economy objectives of the Tinubu administration.
NIMASA also said the dock will not only arrest capital flight, but also boost the nation’s ship repair capacity and transform Nigeria’s maritime industry for wealth and employment creation.… Read the rest
Aliko Dangote is reportedly in the process of establishing an oil trading division, potentially situated in London, aimed at managing the crude and product supply chain for his upcoming refinery in Nigeria, according to six informed sources who spoke to Reuters.
This strategy is expected to diminish the influence of the largest trading companies in the world. These companies have been in discussions for an extended period, seeking to secure financing for the refinery and supply crude oil, in return for the rights to export its products. … Read the rest
Dangote Refinery has ramped up its stock of imported crude oil from the United States as a second cargo as a second shipment of US light sweet crude oil was headed to Nigeria on Friday for delivery to the refinery, according to a trader and ship tracking data.
This is coming as indications emerged at the weekend that Nigeria’s efforts to raise crude oil production continued to yield results during the February circle, with output for the month rising by approximately 60,000bpd during the month.… Read the rest
The Nigerian Maritime Administration and Safety Agency (NIMASA) has noted that the federal government waste management project with XPO Marine Services Limited will enhance the economic growth of the country.
XPO Marine Services, a provider of offshore marine support services to the oil and gas industry, recently entered a Public Private Partnership (PPP) with the country for the establishment of an offshore waste recovery facility.… Read the rest
Brent, the global benchmark for crude oil, witnessed a rise in price in the past three days, crossing $84/barrel on Friday, after trading for an average of $80/barrel in the past weeks.
Its price rise came at a time the Nigerian government announced a new crude oil production target of 2.5 million barrels per day, a development that would really grow the foreign exchange fortunes of the country if met.… Read the rest