{"id":86408,"date":"2021-09-25T14:57:06","date_gmt":"2021-09-25T13:57:06","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=86408"},"modified":"2021-09-25T14:57:06","modified_gmt":"2021-09-25T13:57:06","slug":"wreck-removal-exercise-will-boost-investment-opportunities-in-maritime-sector-says-amaechi","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2021\/09\/25\/wreck-removal-exercise-will-boost-investment-opportunities-in-maritime-sector-says-amaechi\/","title":{"rendered":"Wreck removal exercise will boost investment opportunities in maritime sector, says Amaechi"},"content":{"rendered":"

Minister of transportation, Rotimi Amaechi has stated that the ongoing removal of wrecks will boost investment opportunities in Nigeria’s maritime sector.<\/p>\n

This was stated on Friday by Amaechi at the\u00a0official launch of the removal of wrecks along the Badagry creek from Tincan Island to Navy Town, Lagos.<\/p>\n

The minister commended Bashir Jamoh, director-general of the Nigerian Maritime Administration and Safety Agency (NIMASA)<\/a>, for coming up with the wreck removal idea.<\/p>\n

\u201cThis creative venture of clearing our waters of wrecks and derelicts, apart from guaranteeing better safety of navigation, opens up the prospects of many new investments in the maritime industry,\u201d Amaechi said.<\/p>\n

\u201cThis would tremendously help the federal government\u2019s economic diversification drive and enhance Nigeria\u2019s standing within the global maritime community.\u201d<\/p>\n

In his remarks, Jamoh said the successful removal of the wrecks and derelicts would restore confidence in Nigerian waters, and eliminate obstacles to smooth, safe, and profitable navigation.<\/p>\n

Jamoh said the commencement of the wreck removal exercise was another milestone in the incremental achievement of the Triple S strategy of the current management of NIMASA, which is anchored on maritime safety, maritime security, and shipping development.<\/p>\n

\u201cThese wrecks inhibit the operation of shipping companies, which constantly strive to increase efficiency in order to remain in business,\u201d he said.<\/p>\n

\u201cAs a result, most of the shipping companies usually avoid operating or investing in areas where navigational hazards are identified due to high insurance premium charges.\u201d<\/p>\n

He said with the elimination or reduction of the costs associated with insurance, survey and charting of wrecks, the cost of shipping will drop to the benefit of mariners and other stakeholders in the maritime industry.<\/p>\n

\u201cIt is pertinent to state that the benefits that would be derived upon completion of the exercise extend to other areas of maritime core functions, such as search and rescue services, cabotage monitoring, as well as prevention and mitigation of marine pollution,\u201d he added.<\/p>\n","protected":false},"excerpt":{"rendered":"

Minister of transportation, Rotimi Amaechi has stated that the ongoing removal of wrecks will boost investment opportunities in Nigeria’s maritime sector. This was stated on Friday by Amaechi at the\u00a0official launch of the removal of wrecks along the Badagry creek from Tincan Island to Navy Town, Lagos. The minister commended Bashir Jamoh, director-general of the […]<\/p>\n","protected":false},"author":17,"featured_media":8799,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_override_bookmark_settings":[],"jnews_override_counter":[],"footnotes":""},"categories":[2],"tags":[18642,18641,10458,2125],"class_list":["post-86408","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","tag-investment-opportunities","tag-maritime-sector","tag-nimasa","tag-rotimi-amaechi"],"yoast_head":"\nWreck removal exercise will boost investment opportunities in maritime sector, says Amaechi<\/title>\n<meta name=\"description\" content=\"Minister of transportation, Rotimi Amaechi has stated that the ongoing removal of wrecks will boost investment opportunities in Nigeria's maritime sector.\" \/>\n<meta name=\"robots\" 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