Nigeria, Greece Sign Ship Acquisition Deal
By Aiswarya Lakshmi
Friday, July 10, 2015
Nigeria and Greece have signed a deal that will enable Nigerian ship owners to own vessels that would be transferred to them by their Greek counterparts, reports Channels Television.
Nigerian ship owners have reiterated their preparedness to partner their Greek counterparts on coastal trade and ship building in the country.
To this end, the ship owners, under the auspices of the Nigerian Ship Owners Association (NISA), have sealed a partnership with some ship owners from Greece to bring in 40 vessels into Nigeria.
“We have signed the agreement between us and Greeks and Nigeria will acquire the 40 ships in not less than 24 months. NISA is providing a platform for younger and unborn generations and I wish the ships will be growing from 40 to 60 and to 100. A total of 600 vessels are operating on oil and gas; and only 10 per cent belongs to Nigerians as at 2015,” Labinjo said.
Nigeria imports about 1.7 billion litres of petroleum products each month, but does not own a single vessel to participate in the global maritime trade.
This new vessel acquisition agreement will help Nigeria to protect its maritime industry and ensure indigenous participation in the shipping business worth some three trillion dollars annually.