shippingposition
  • Home
  • News
  • Editorial
    • Vox Pop
  • Maritime safety
  • Oil and Gas
  • Personality
  • Health
No Result
View All Result
shippingposition

Home » BPE Shops For New Buyer for NUL …Says “we thought it was a solid coy”

BPE Shops For New Buyer for NUL …Says “we thought it was a solid coy”

by Ade
February 15, 2009
in Uncategorized

 

Months after oil sector magnate, Mr Femi Otedola collected the US$20 Million he paid for the national carrier; Nigeria Unity Line (NUL), the Bureau of Public Enterprises (BPE) says that it had commenced search for a new buyer for ill-fated shipping line.
Although Shipping Position Weekly could not confirm how far the search has gone or if anyone had already indicated interests in acquiring the national carrier, it was confirmed that searchlight is already beamed in the direction of key players in the nation’s maritime sector.
Otedola’s shipping company which he used to bid for NUL in 2005 was paid US$20Million mid last year; after which the BPE beat a retreat on new plans to resell the company until last week when news filtered out that the bureau which supervises sales of all government’s interests was set to call for bids.
Seaforce won the bid for NUL on December 1, 2005, paid the US$20Million in February, 2006, but failed to take advantage of the company as a national carrier until September, 2007, by which time, a new President had been sworn in. Spokesman for BPE, Mr Chigbo Anichebe confirmed the development to our correspondent, but refused to give details of the unfolding deal.
According to him, the BPE was not properly informed about the status of NUL before its sale. “We thought it was a solid company, but we found out that what attracted Seaforce was the promise of using the status of the company as  national carrier to lift crude oil” , he disclosed.
Industry sources told our correspondent last week in Lagos that it would be difficult for BPE to get a buyer for NUL within the Nigerian maritime sector, because according to them, the company is worth nothing, except on paper.
“The only ship, MV Abuja which NUL would have had was sold in 2002 under very controversial circumstances and one wonders why the government decided  to sell the certificate of NUL which is a government-owned company and which is national carrier to an individual”, a source said.
Our sources confirmed last week that Otedola dumped NUL following the inability of Seaforce to use the acquisition of NUL to enter into the big league of crude oil carriers contrary to an agreement that was said to have been reached with the BPE.
It was learnt that both Seaforce and BPE had reached an agreement based on alleged directives form the presidency that Seaforce would use the NUL status as a national carrier to lift 40 per cent of the nation’s crude oil.


Related Posts

VESSELS EXPECTED AT LAGOS PORT AS AT TUESDAY 10, MAY 2022

VESSELS EXPECTED AT LAGOS PORT AS AT TUESDAY 10, MAY 2022

May 10, 2022
VESSELS EXPECTED AT LAGOS PORT AS AT FRIDAY 29, APRIL 2022

VESSELS EXPECTED AT LAGOS PORT AS AT FRIDAY 29, APRIL 2022

April 29, 2022

‘Why I Pay More Attention To Rail Than Maritime Sector’- Rotimi Amaechi

September 27, 2021
ANLCA President Calls For Emergency On Reconstruction Of Roads Leading Into Apapa

ANLCA President Calls For Emergency On Reconstruction Of Roads Leading Into Apapa

May 15, 2021

Discussion about this post

Latest News

Shipping Position Interaction with Dr Eugene Nweke (Concluded)

Shipping Position Interaction with Dr Eugene Nweke (Concluded)

May 28, 2022

NNS KADA Will Further Improve Maritime Security Around Gulf Of Guniea  – CNS

AfDB Targets Wheat Importation Cut In Nigeria By 40 Per Cent

VESSELS EXPECTED AT LAGOS PORT AS AT SATURDAY 28, MAY 2022

Customs Western Marine Command Intercepts Cannabis Sativa, Rice

Minister Inaugurates Committee On Nigeria Agro Produce

Nigeria, EU Partner To Address Instability In Niger Delta

U.S. Seizes Iranian Oil Cargo Near Greek Island – Sources

VESSELS EXPECTED AT LAGOS PORT AS AT FRIDAY 27, MAY 2022

100 Days In Office: NPA MD Commissions Training School

NIMASA To Entrench Home Grown Human Capacity Development – DG

Egypt’s Suez Canal Maritime Traffic Generates $15m Daily — Official

kindly like our Facebook page

Health

Stay Away From Bush Meat To Prevent Monkeypox, NCDC Urges Nigerians
Health

Stay Away From Bush Meat To Prevent Monkeypox, NCDC Urges Nigerians

May 23, 2022

The Director-General of the Nigerian Centre for Disease Control, Dr. Ifedayo Adetifa has urged Nigerians to avoid bush meat as...

Stop Consuming Suya Roasted With Open Flames, Physician Tells Nigerians

Stop Consuming Suya Roasted With Open Flames, Physician Tells Nigerians

May 23, 2022
COVID-19, 40 Other Outbreaks Top Regional Diseases In 2021 – WAHO

COVID-19, 40 Other Outbreaks Top Regional Diseases In 2021 – WAHO

May 16, 2022
EU Relaxes Anti-COVID Measures, Drops Wearing Of Masks On Planes

EU Relaxes Anti-COVID Measures, Drops Wearing Of Masks On Planes

May 16, 2022
What You Need To Know About Monkeypox

What You Need To Know About Monkeypox

May 16, 2022
Sleep Duration Of 7 Hours Optimal For Elderly – Study

Sleep Duration Of 7 Hours Optimal For Elderly – Study

May 16, 2022
COVID-19 On Increase In Americas, Africa – WHO

COVID-19 On Increase In Americas, Africa – WHO

May 9, 2022
‘65 Per Cent Of Africa’s Population Survived COVID-19’

‘65 Per Cent Of Africa’s Population Survived COVID-19’

May 9, 2022
Seven Hours Of Sleep Ideal For Middle-Aged Persons – Study

Seven Hours Of Sleep Ideal For Middle-Aged Persons – Study

May 9, 2022
Some Things That Are Actually Damaging The Kidneys (2)

Some Things That Are Actually Damaging The Kidneys (2)

May 9, 2022

The World Of Vaccines, Before And After COVID

April 29, 2022

© 2021 Shippingposition

Navigate Site

  • Home
  • About Us
  • Contact us
  • Privacy Policy
  • Sitemap
  • Terms

Follow Us

No Result
View All Result
  • News
  • Coast To Coast
  • Oil and Gas
  • Maritime Education
  • The Terminals
  • Maritime safety

© 2021 Shippingposition