More Foreign Exchange For Government As NIMASA Plans Deployment Of N50bn Modular Floating Dock In Lagos

The Nigerian economy is set to see more foreign exchange inflows from the utilisation of Continental Shipyard by the Nigerian Maritime Administration and Safety Agency (NIMASA).

NIMASA said it has fully taken over areas leased to it by the Nigerian Ports Authority (NPA) at the Continental Shipyard and it would be used for the operations of the modular floating dock.

The areas leased by the NPA are the dolphin jetty, an administrative block, a construction site, the waterfront of the jetty adjourning the slipway, a welding and mechanical workshop and a civil maintenance workshop.

The handover took place in Lagos where the Director General of NIMASA, Bashir Jamoh, said the deployment of the modular floating dock would contribute immensely to the Nigerian economy.

The Infrastructure Concession and Regulatory Commission (ICRC) had issued a certificate of compliance for an Outline Business Case (OBC) for the operation of the floating dock.

The modular floating dock has the capacity to handle up to 10,000 metric tonnes vessels.

Jimoh said that the handover marks the last phase of the Agency’s effort to deploy the modular floating dockyard.

The DG represented by the Head, Public, Private Partnership (PPP), Unit Mr. Kabiru Diso told stakeholders and partners that the modular floating dockyard would soon be deployed for use.

According to Diso, all differences between NIMASA and the NPA have been rectified for the deployment of the project.

He said, “The Modular Floating Dockyard is a national asset and now that all grey areas between the NPA and NIMASA have been addressed, we are very close to the deployment of the Modular Floating Dock.

“Our goal is to domicile dry-docking of vessels in the country thus saving the nation foreign exchange currently expended on dry-docking vessels outside the shores of Nigeria.

“The floating Dock will also provide both direct and indirect employment to Nigerians with a multiplier effect on capacity development.”

The project would be run on a Public Private Partnership arrangement.