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    MarketForces Africa » MarketNews » FG Sets to Increase Nation`s Navigable Waterways – Oyetola
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    FG Sets to Increase Nation`s Navigable Waterways – Oyetola

    Ogochukwu NdubuisiBy Ogochukwu NdubuisiJune 12, 2024No Comments4 Mins Read
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    FG Sets to Increase Nation`s Navigable Waterways – Oyetola
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    FG Sets to Increase Nation`s Navigable Waterways – Oyetola

    The Minister of Marine and Blue Economy, Mr Adegboyega Oyetola says the Federal Government will increase the three thousand kilometres navigable waterways across the nation to five thousand kilometres.

    Oyetola made the assertion on Tuesday in Lokoja during his working visit to the National Inland Waterways Authority (NIWA) and the inauguration of landmark projects embarked upon by the management of the authority.

    According to him, elongating waterways will advance the effectiveness and efficiency of navigation on waterways for the passage of goods and people. I am aware that of the 10, 000 kilometres of our waterways, only 3,000 kilometres are navigable. We are determined to increase them by at least 2,000 kilometres more.

    “This is why it is desirable for us to embark on a holistic dredging of strategically important inland waterways for the passage of goods and people.

    “This is a task that must be accomplished to create positive change, and leave a lasting legacy for generations to come, “ he said.

    Oyetola said the ministry was currently engaging relevant stakeholders to finalise the arrangement for the disbursement of the Cabotage Vessel Financing Fund (CVFF) for the development of the maritime sector.

    “As a ministry, we will continue to create enabling environment, develop policies and offer necessary support to grow inland waterways segment of the maritime sector in line with the Renewed Hope Agenda of the present administration.

    “ In line with the mandate of the ministry, we will continue to vigorously pursue the development of the shipping and maritime related sectors in order to ensure sustainable development of our marine resources.

    “I call on the private sector to explore and utilise the opportunities inherent in the sector for possible investment and partnership with the government to enhance growth and ensure sustainable development, “ the minister said

    According to him, President Bola Tinubu `s policy agenda is the need to improve Nigeria’s balance of trade to strengthen the value of the Naira and create employment. He said the ministry was determined to ensure the maximisation of the comparative advantages that maritime resources present.

    “ NIWA has also keyed into the concerted efforts at achieving the economic goals of the Renewed Hope Agenda of the current administration led by our President. I must commend the management of NIWA for their visionary intervention in ensuring that the Water Transportation Code comes alive after several years of being in the pipeline,“ he said.

    While officially unveiling the national transportation code, Oyetola said it would guide the boat operators, regulate the conduct of passengers and provide a framework for potential investors in water transportation.

    The minister said the code by the NIWA would enhance the ministry to standardise water transportation to reduce accidents on nation`s waters to the barest minimum.

    Other projects inaugurated by Oyetola were, 15 boats of varying capacities and uses, comprising three boats with 150 Horsepower each for surveillance, to ensure that the NIWA Police officers are more visible.

    Five boats with doubles 75 Horsepower each for enforcement of safety rules and regulations; one Gun Patrol Boat (combat ready) with 115Horsepower for emergency response to security threats.

    Others are, one 62-seater passenger boat as a pilot scheme to replace the wooden passenger canoe, three fully equipped water ambulances for prompt response to emergencies and two hydrographic survey boats with multi-beam echo sounders among other projects.

    In his opening remarks, the NIWA`s Director- General, Mr Bola Oyebamiji, said the management had put in place some efforts to reposition the agency for greater efficiency.

    Oyebamiji, however, said the agency was confronted with many challenges including inter-agencies rivalry occasioned by overlapping functions that called for speedy action on the NIWA Act currently before the National Assembly.

    “Sir, we recognise your efforts at ensuring that the Cabotage Fund is disbursed for the greater good of the sector.

    “We therefore plead that NIWA be supported to benefit maximally from this fund and its administrative set-up,”  he said

    The director- general plead for minister`s support in facilitating funding for NIWA`s major Key Performance Indicators; the Capital dredging of 2000 km and the completion of the ongoing inland port at Ganaja, Lokoja. Heritage Bank Liquidation: ASSBIFI Says Future of Members Hanging in Balance

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    Ogochukwu Ndubuisi
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    Ogochukwu Ndubuisi is an editorial content strategist and financial news writer at MarketForces Africa, covering a broad range of topics including Nigeria's equity markets, infrastructure development, energy, government policy, corporate finance, and digital economy.With over 2,400 published articles on MarketForces Africa, Ogochi brings depth and consistency to the publication's daily news coverage.Her reporting spans Nigerian Exchange Group market movements, Lagos State infrastructure projects, and federal government economic policies, oil and gas developments, and emerging sectors shaping Nigeria's economic landscape.She also covers Africa-wide stories, including East African market indices, continental investment trends, and cross-border economic developments.Ogochi works closely with MarketForces Africa's editorial and corporate communications teams to deliver accurate, timely, and well-researched content to the publication's professional readership.Ogochukwu Ndubuisi is based in Lagos, Nigeria.

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