NAMASA Initiates Moves To Finance Indigenous Ship-Owners
 9th JAN 2007

The National Maritime Administration and Safety Agency (NAMASA) is discussing with banks and industry operators to assist indigenous ship-owners on ship financing.

NAMASA Head of Public Relations, Ms Ego Nwokocha, told the News Agency of Nigeria (NAN) in Lagos last week that the organisation held different fora with Access Bank, Chamber of Shipping and other stakeholders last year to make funds available to indigenous ship-owners to expand their fleet.

Nwokocha noted that the Director-General of NAMASA, Mrs. Mfon Usoro, had pleaded with the banks to add value and support the maritime industry.

She added that the Cabotage Vessel Financing Fund (CVFF) to facilitate infrastructure development for the cabotage trade had been on course.

She said that the management of NAMASA had established several strategies to meet the mandate given to the organisation by the Federal Government.

The MAMASA spokesperson said that the private sector culture had been introduced at NAMASA, as well as targets set weekly and quarterly for the staff to meet and surpass.

She explained that the NAMASA bill had passed through the second reading in the National Assembly and expressed optimism that if it is passed early, it would benefit the whole nation.

She said that the clearance of ship wrecks by the organisation had entered the second phase so that ships can sail through the nation's waters without hindrance.

"The safety and pollution control unit carried out surveillance during the holidays,'' she added.

Nwokocha called on all operators in the industry to ensure that the industry made some progress by giving useful suggestions on how to develop the maritime agency.

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