The Nigerian Maritime Administration and Safety Agency has declared its preparedness to dish out $25million to each ship owner to enable them build new befitting ships for better businesses.
This was disclosed by the Director General of NIMASA, Bashir Jamoh who stated that the agency is in the quest to boost blue economy matket by sharing the $720 Cabotage Vessel Financing Fund (CVFF) with ship owners to buy more ships to ensure provision of 350 million jobs in the blue economy as part of their plans of the stakeholders to weather through the economic threat caused by the shift from oil business.
Jamoh during a call in University of Lagos (UNILAG) explained further that the entire world is working tirelessly to phase out crude oil and fossil energy to quench the health and environmental hazards.
At the end, the NIMASA boss concluded with assurance that, the NNPC is also in collaboration with the idea and is willing to provide 9% out of the 15% needed funding for shipowners to ensure they buy new ships in order to achieve the provision of 350 million Jobs as estimated.