THE Nigerian Maritime Administration and Safety Agency (NIMASA) on Wednesday said the Cabotage Vessel Finance Fund (CVFF), a two per cent contribution by indigenous ship-owners on every contract done in the nations maritime sector, is now $124m Dollars (N37.9bn).
Disclosing this during a media chat with selected maritime journalists in Lagos on Wednesday, Director General of NIMASA, Dr. Dakuku Peterside explained that as at last check in the Treasury Single Account (TSA) at the Central Bank of Nigeria (CBN), the fund is now N37.9bn.
According to Dakuku Peterside, “Within the last three years that the current management of NIMASA came onboard, the agency has reviewed freight rates benchmark for 3 per cent levy billing. The review was done to reflect prevailing realities in shipping based on the request by operators. The significance of the new benchmark is that it has fostered harmonious regulator-operator relationship. Also, the review brought about positive trends in the industry leading to more patronage. So far, in 2018, total cargo throughput between January-June is 96,626,737.96 MTs /CBM, showing a 31.24% increase from the cargo throughput of same period in 2017 which stood at 73,628,546.62 MTs/CBM.
“The agency is working on a special forex intervention for vessel parts acquisition and loan repayment processes to enable indigenous operators to compete favourably with their foreign counterparts. We have approached the Central Bank of Nigeria and a Committee has already been set up to work out modality to implement the policy.”
On the nation’s faulty terms of trade, the NIMASA DG stated that “Since we started the clamour for a change of terms of trade from Free on Board (FOB) to Cost Insurance and Freight (CIF) for the affreightment of Nigerian crude oil cargo, more stakeholders are now better informed.
“We have approached the NNPC and a team has been put together by both organizations to review and come up with modalities for implementation.
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“Also, there has been increase in indigenous participation on Cabotage vessels manning, ownership building and registration as a result of zero tolerance on granting manning waivers. We have also introduced electronic software for vessels monitoring and investigation.
“Our improved interface with the Nigeria Content Development and Monitoring Board (NCDMB) has led to a harmonized marine vessel categorization standards which aim to deliver a common database. Increased Port State and Flag State inspections have led to significant reduction of sub-standard vessels on our waters.”
In the area of cabotage, Dr. Dakuku Peterside explained that “We have also witnessed an increase in total number of wholly Nigerian owned vessels on the Nigerian Cabotage register. Half year result shows 125 vessels registered, representing a 33% increase when compared with the 94 registered in the corresponding period in 2017. We have also introduced the New Cabotage Compliance Strategy.
“The number of Nigerian Seafarers placed onboard vessels from January to June this year (2018) is 2,337, representing a 58.9% increase in the number of seafarers employed.
“For vessels owned by Nigerians, a total of 125 vessels were registered in 2018 as against 94 vessels in 2017, which is an increase of 33%. For vessels manned by Nigerians, a total of 2,840 Nigerian officers and ratings were recommended to be placed onboard Cabotage Vessels in 2018 as against 1,789 Nigerian seafarers in the same period in 2017 which reflects an increase of 58%.”
On the compliance of International Ships and Ports Security Code (ISPS) code, he stated that the agency has recorded80 per cent compliance.
“The primary responsibility of NIMASA is to ensure ships calling at our ports are safe and secured. We do this under two principal programs, ISPS code programme and NIMASA maritime security strategy i.e the total spectrum of maritime security strategy.
“We have grown compliance from 13 per cent at various times to 80 per cent. We also ensure port facilities adhere to ISPs code and we have been commended by the department of transport of United Kingdom and United State Coast Guard. We have received commendation from these two major international partners,” the NIMASA DG added.
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