‘Make Floating Dock Part of APC’s Renewed Hope Agenda’ — League Tasks NIMASA

BY KESSIENA SHEPHERDS

The League of Maritime Editors has urged the Nigerian Maritime Administration and Safety Agency (NIMASA) to make the deployment of its long-idle modular floating dock a priority under President Bola Ahmed Tinubu’s Renewed Hope Agenda.

The group stressed that the floating dock, acquired in 2018 to boost indigenous shipping capacity, has remained unused, incurring heavy maintenance costs despite its potential to transform Nigeria’s maritime industry. “If the floating dock works, it becomes part of the renewed hope agenda of the President Ahmed Bola Tinubu,” the League stated, noting that the facility has the capacity to handle vessels up to 10,000mt.

According to the League, the floating dock was intended to allow shipowners to dry-dock their vessels locally, thereby saving foreign exchange and strengthening indigenous capacity in ship ownership, construction, repair, and manning. However, years after its acquisition, the dock has yet to be deployed.

On assuming office, NIMASA’s Director General, Dr. Dayo Mobereola, promised to put the dock into operation, but the League observed that “from all indications this so far has not been achieved.” They called for urgent action to ensure the facility is put to productive use and profitability.

The League in a statement  signed by the President of League, Mrs Remi Itie, Secretary General, Femi Kumuyi and Public Relations Officer, Francis Ugwoke, the group explained that   its position   [s based on history where such past efforts and strong promises turned out to be mere political statements.

“We state this with all sense of history and patriotism, having observed different promises and efforts in the past towards the disbursement that failed to produce results. Everything ended in bureaucratic circles with no disbursement and revolving circle of excuses”, the statement said.

The statement reads, “We note that NIMASA as at last year had not given a clear picture of what has become of its modular floating dock. Surprisingly, the dock which was acquired in 2018 has remained idle.

“The objective was to promote indigenous shipping development so that vessel owners can dry-dock their ships here in Nigeria in what was designed to save foreign exchange.

While spotlighting the floating dock, the League also commended the Federal Government for launching the Cabotage Vessel Financing Fund (CVFF) Application Portal, which could pave the way for long-awaited disbursement of funds to indigenous shipping operators.

The group aligned with the Minister of the Federal Ministry of Marine and Blue Economy, Dr. Adegboyega Oyetola, who described the portal launch as a “strategic step in repositioning Nigeria’s maritime sector as a central pillar of national development.”

However, the League cautioned that past promises on CVFF disbursement had ended in bureaucratic circles and political rhetoric. They urged NIMASA to ensure the current effort leads to real implementation, not another cycle of excuses.

Beyond CVFF and the floating dock, the League pressed for reforms in crude oil shipping policies. They criticized Nigeria’s continued reliance on Free on Board (FOB) trade terms, which allow foreign buyers to provide vessels, thereby excluding Nigerian operators from crude oil afreightment.

They advocated for a shift to Cost Insurance and Freight (CIF) terms, which would empower local shipping lines and boost foreign exchange earnings. Industry stakeholders have previously estimated that Nigeria loses over $2 trillion annually under the FOB regime.

The League reiterated its 2026 growth media agenda, aimed at accelerating Nigeria’s marine and blue economy by exposing bottlenecks and highlighting solutions. They emphasized that effective CVFF disbursement, deployment of the floating dock, and reforms in crude oil afreightment are critical to strengthening indigenous shipping and aligning with the Renewed Hope vision of the current administration.