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More Foreign currency for the government is needed as NIMASA prepares to deploy a $50 billion modular floating dock in Lagos

Aug 9, 2023 | International | 0 comments

The Nigerian Maritime Administration and Safety Agency’s use of Continental Shipyard would boost Nigeria’s foreign currency (NIMASA).
NIMASA claimed it had completely taken over sites leased from the Nigerian Ports Authority (NPA) at Continental Shipyard for modular floating dock operations.

The NPA leases the dolphin jetty, administrative complex, construction site, shoreline of the jetty adjourning the slipway, welding and mechanical workshops, and civil maintenance workshops.

NIMASA Director General Bashir Jamoh said the modular floating dock will boost the Nigerian economy during the handover in Lagos.

The Infrastructure Concession and Regulatory Commission (ICRC) certified an Outline Business Case (OBC) for floating Dock operations.

The modular floating dock can accommodate 10,000-ton boats.

Jimoh said the transfer completes the Agency’s modular floating dockyard deployment.

The Head, Public, Private Partnership (PPP), Unit, Mr. Kabiru Diso, informed stakeholders and partners that the modular floating dockyard will soon be used.

Diso claims all NIMASA-NPA disagreements have been resolved for project implementation.

He stated, “The Modular Floating Dockyard is a national asset, and now that all grey issues between the NPA and NIMASA have been cleared, we are very close to deploying it.

“Our aim is to domicile dry-docking of boats in the country to save the nation foreign cash now spent on dry-docking vessels outside Nigeria.

The floating Dock would employ Nigerians directly and indirectly, multiplying capacity development.

PPP would manage the project.

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