Nigeria on track to building its own ships – to begin construction of shipbuilding facilities

Nigeria is on track to begin building its own ships and has approved a N58.6 billion (US$369 million) fund for or the construction of ship building facilities and dockyard in Delta State – a move that is likely the country’s huge oil industry.

According to the country’s Minister of Transport, Idris Umar, an initial N40.2 billion (US$253.2 million) will be provided for the delivery of maritime equipment, with a further N18.4 billion (US$115.9 million) for civil and structural engineering works.

Umar also added that the construction of a ship building facility in Nigeria, would “end the huge capital flight in the procurement of ships by Nigerians from outside the country”. Once completed, the facility will help reduce the amount spent on procuring ships from foreign manufacturers.

The project which is expected to create hundreds of jobs, is in line with Nigeria’s drive towards local production of ships and other maritime facilities. At present, Nigeria operates 6 ports including: – the Lagos Port Complex; the Tincan Island Port Complex, a port in Rivers state; a port in Delta state; Calabar and Onne.

Read more: BusinessDay