The Ministry of Marine and Blue Economy has commenced a strategic plan to establish a national flag carrier through a public-private partnership by engaging key stakeholders.
Minister for Marine and Blue Economy, Adegboyega Oyetola, stated this recently in Lagos while speaking at the stakeholder’s forum on the establishment of the National Single Window.
Oyetola said the move is aimed at generating employment, repositioning the maritime sector, and providing revenue streams for the government.
“The Ministry of Marine and Blue Economy has commenced a strategic plan and modality by engaging our stakeholders, looking at the best way to establish a National Flag Carrier through a private-public partnership. This initiative aims to generate employment, reposition the maritime sector, and provide revenue streams for the government,” Oyetola said.
He added that arrangements were ongoing for the disbursement of the Cabotage Vessels Financing Fund.
“Arrangements for the disbursement of the Cabotage Vessel Financing Fund are being finalised to support the development of the shipping sector,” he said.
He further stated that the deployment of an NSW will substantially cut cargo clearance times at Nigerian ports by automating procedures and facilitating simultaneous approvals.
Oyetola highlighted that the advancement tackles the persistent challenge of clearance delays by optimising operations and boosting trade efficiency.
“Estimates suggest that once fully implemented, the system could slash average cargo clearance times at Nigerian ports by as much as 60 per cent. This remarkable efficiency gain is expected to improve port throughput and strengthen Nigeria’s competitiveness in global trade,” he said.
Earlier, the Managing Director of the Nigerian Ports Authority, Dr. Abubakar Dantsoho, stated that the platform interconnects all stakeholders involved in foreign trade and enables them to perform trade procedures on one platform.
“It provides a comprehensive online environment for all governmental and business users, such as importers, exporters, commercial banks, carriers, ministries, and other government agencies, to perform trade operations,” Dantsoho said.
He said the NSW operation is the global trade’s best practice for the electronic exchange of information relating to over 500 million twenty-foot equivalent unit movements and billions of tonnes of cargo for sea, air, and land transport modes.
Dantsoho maintained that the NSW is pivotal to deepening the competitiveness of the ports and positioning Nigerians to reap greater benefits from global trade.
