NCDMB Partners BOI, Donates $200million Seed Money For Indigenous Participation     

There are indications that the Nigerian Content Development and Monitoring Board (NCDMB) in partnership with the Bank of Industry (BOI) may have released seed money of US$200 million for indigenous ship operations in Nigeria. 

The Executive Secretary of the board, Engineer Simbi Wabote, said this last week at an event in Lagos organized by the Nigerian Maritime Administration and Safety Agency (NIMASA).

Simbi who was represented by the Manager, Research at NCDMB, Mr. Ajimijaiye Silas, said that board is determined to deploy more funds in the range of seven digits to boost indigenous activities in the industry.

He said that the board is ready to deploy more funds in conjunction with NIMASA, Central Bank of Nigeria (CBN) and other government agencies.

“But without the necessary finance it is going to be a big issue. That is why for NCDMB for instance we have to partner with the Bank of Industry; we have given a seed money of about $200million. We want to deploy more funds to pump into the industry.  For those who are ready we want to deploy our funds to bring these things to action.  We can deploy our resources in conjunction with NIMASA, CBN and several government agencies to have this in place”, he assured.

Wabote  also said that the agency is currently conducting a research to ascertain the identities of the operators in the industry.

“Talking about manning which we are doing a lot in that area, we are doing a new study now where we want to know who is who in the maritime industry; in terms of certifications. All the expatriates in the industry, now we know why are they in the oil and gas industry, we try to profile all their certifications and their experiences and I think this is very important”

The NCDMB boss also charged the nation apex maritime regulatory body, NIMASA to be more aggressive in the area of providing infrastructure for the industry, adding that there is need for the agency to align even with the private sector.

“NIMASA has to be very aggressive in the area of backed up infrastructure. We have to aggressively align with the necessary government instruments; even the private sector to play in the steel production space in other to have the backup infrastructure”

“There are lots of resources right now in the industry in terms of capacity in assets and infrastructure. NIMASA, NCDMB, DPR and the various agencies of government; we have to work closer more than ever before in other to achieve these goals. So from our angle now we have done the chart, we have to find a way of bringing together Nigerians collaborating with the foreign owners of those assets, that is the challenge in the industry and see how we can even appeal to their patriotic conscience and see how we can turn the tide”, he added.