FEC approves 3 projects for NIMASA – Commission
Economy Transportation

FEC approves 3 projects for NIMASA – Commission

By Our Correspondent

The Federal Executive Council (FEC) has approved three Public Private Partnership (PPP) Projects for execution by the Nigerian Maritime Administration and Safety Agency (NIMASA).

This is contained in a statement signed by Mrs Manji Yarling, Acting Head of Media and Publicity, Infrastructure Concession Regulatory Commission (ICRC).

Yarling said the projects are under the regulatory guidance of the ICRC.

The projects, she said, would generate over $1.1 million for the Federal Government during the concession period.

They include the eastern offshore waste reception facility, central/western offshore waste reception facility and a floating dry dock.

Yarling said that FEC approved the project following the issuance of Full Business Case Certificate of Compliance (FBC) by the PPP regulatory body, the ICRC.

According to her, the Director-General of ICRC, Michael Ohiani issued the FBCs for the Offshore Waste Reception Facilities (OWRF) projects.

“The move demonstrates the commitment of Buhari’s administration to the environmental well-being of coastal communities and offshore fishermen.

“The essence of the FEC approvals for the OWRF is to put in place a standard facility for use in Nigeria’s international waters.

“This is in compliance with the International Convention for the Prevention of Pollution from Ships (MARPOL) 1973/1978.”

Ohiani stated that the goal of the partnership would be to protect the offshore environment and provide a visible deterrent for offshore polluters through surveillance.

The project, according to her, would also reduce pollution to the benefit of offshore fishermen and coastal communities.

The statement also quoted the director-general as saying that the OWRF projects would help keep the seas and oceans clean.

“When completed, each facility would be adequate to fully meet the needs of ships and other installations regularly making use of the facilities.

“They will also improve the marine environment.

Read Related News:

NIMASA D-G says NIIA critical to harnessing Nigeria’s economy

Energy transition: NNPC tasks stakeholders on gas utilisation

FG makes significant strides in security, anti-corruption – Buhari

The facilities will enhance the ultimate disposal and discharge of wastes from ships and other installations in an environmentally friendly way, the statement added.

More details on the Eastern OWRF showed that it would adopt the design, finance, build, operate, maintain and transfer (DFBOMT) PPP model.

XPO Marine Services Limited would be the concessionaire for an initial period of 10 years.

The projected total revenue from Eastern OWRF for the entire concession period is about $279.5 million.

Also, about $765,3 million in revenue is expected from the Central and Western zones for the entire concession period.

FEC also approved the management contract for operating, maintaining and transferring the Floating Dry Dock (FDD) of the NIMASA.

The FDD is for the repair of cabotage vessels.

“The concessionaire, J. Marine Logistics Limited, is to manage the Modular/Floating Dry Dock for 15 years.

“Total revenue accruable to NIMASA for the 15 years concession period is about $65.61 million (N27.23 billion).

“When fully implemented, the project will create over 800 direct and indirect jobs.”

Beyond revenue generation, the project will create jobs, develop capacity and provide maintenance facilities for ships and boats.

“FEC also approved PPP project for the Federal Radio Corporation of Nigeria to develop a commercial mixed-use complex,” she added.

The complex, in Ikeja Lagos, would contain houses, hotels, recreational facilities and an office complex.

FEC approved a concession period of 55 years for the FRCN PPP project with expected revenue of N14.9 billion.

The concessionaire for the project is Fish Valley Investment & Property Limited.



Do you have a flair for Citizenship Journalism? Share story(ies) of happenings in your area with The NewsZenith on WhatsApp: 08033668669 or thenewszenith@gmail.com

Leave a Reply

Your email address will not be published. Required fields are marked *