Esther Oritse
Lagos — In a bid to build capacities for local firms operating in the oil and gas value chain comprising of players in the maritime industry, the Nigerian Content Development and Monitoring Board, NCDMB, has given ten local shipping firms to access its $350 million domiciled at the Bank of Industry, BOI.
Speaking yesterday at Maritime Roundtable Breakfast Meeting held at the Oriental Hotel in Lagos, General Manager in charge of Research, Statistics and Development, Mr. Silas Ajimijaye said that about local shipping firms has had access to the Fund.
Ajimijaye also said that since the Fund is being managed by the Bank of Industyr, the default rate has been very low as more beneficiaries accesses the loan and pay back in no time.
He said: “But what I know is that not less than 10 Nigerian shipping companies have accessed that facility. As a matter of fact, before I came here, I spoke with one of those companies that has really benefitted from our intervention. A good example is Starz Marine Investment and they said they are very happy with what NCDMB has done to help them as a company.
“It is not only them, there are several others we are working with, you know the fund keeps growing, it is a loan but it is a single digit loan. So the facility could be much more because as people are using it, they are paying back.
“If you want specific figures, we can collaborate with you. Mind you this Fund is being managed by the Bank of Industry and every now and then, they provide report to show the progress of the intervention.
So that data is available, if it is useful to you, you can ask the Bank of Industry. The interesting thing is that Bank of Industry has done an excellent work in management of the Fund the default rate is very low unlike the conventional Banking.
“In our law, the Act allows us to collaborate with other relevant government agencies to deepen local; content which we are doing with the Cabotge law to ensure compliance with the law, there is also the Nigerian Content Plan, NCP, which has to be in every contract arrangement, you have to ensure what will be in such contract for Nigerians and how Nigerians can take over such contract jobs on the long run.
“Even with the vessels, in the manning, you have to show how you make Nigerians understand your system and integrate Nigerians into your system.
Similarly, Convener of the meeting and Chair of Zoe Maritime Resources, Mrs Tosan Edodo-Emore said that maritime logistics is an acute driver ocean economy in this digital age adding that it was important to evaluate how logistics affects the development of the ocean economy
