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 Joshua
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

International Customs Day:  C-G Restates Commitment To Mentor Young Officers For Effective Service Delivery

January 27, 2023
ONE To Acquire Three U.S. West Coast Container Terminals

ONE To Acquire Three U.S. West Coast Container Terminals

December 29, 2022
Shippers’ Council Collaborates With Institute On Training

Shippers’ Council Collaborates With Institute On Training

September 23, 2022
Dala Dry Port Has Potential To Service Cargo Needs Of Nigeria, Niger Republic –FG

Dala Dry Port Has Potential To Service Cargo Needs Of Nigeria, Niger Republic –FG

August 6, 2022

Discussion about this post

Latest News

Media Crucial To Nation Building- Channels TV Boss

January 27, 2023

Lekki Deep Seaport To Boost Non-Oil Revenue — NEPC

Military Destroys 39 Illegal Refineries, Apprehends Oil Thieves, Vandals

International Customs Day:  C-G Restates Commitment To Mentor Young Officers For Effective Service Delivery

FG Says Nigeria-Niger Republic Rail Project Critical To Both Countries’ Trade

FG To Establish Free Trade Zone In Ekiti -NEPZA Boss

ANLCA, Congratulates Newly Promoted Customs Officers, Charges Them To Add Value

NRC, Police Reiterate Commitment To Secure Nigeria’s Railways

Transportation Ministry Inaugurates Committee For Ondo, Benin Sea Ports

UK Cuts Tariffs On Nigerian Exports

Nigeria To Net $500m Revenues From Cashew Exports In 2023 — Minister

Lekki Port: Ensure Only Genuine Trade Partners Operate, Shipper Urges Govt.

kindly like our Facebook page

Health

Unhealthy Environment Causes 12.6m Deaths Worldwide, WHO Says
Health

Unhealthy Environment Causes 12.6m Deaths Worldwide, WHO Says

December 19, 2022

The World Health Organisation has said that the number of people estimated to have died as a result of living...

Health Benefits And Side Effects Of Bitter Leaf

Health Benefits And Side Effects Of Bitter Leaf

December 12, 2022
More Women May Die During Childbirth In West Africa — Report

More Women May Die During Childbirth In West Africa — Report

December 12, 2022
The Many Wonderful Uses Of Onions

The Many Wonderful Uses Of Onions

December 5, 2022
Nigeria Yet To Achieve 70% COVID-19 Immunisation Coverage, Says NPHCDA

Nigeria Yet To Achieve 70% COVID-19 Immunisation Coverage, Says NPHCDA

December 5, 2022
COVID-19 Cases Increasing, Continue With Preventive Measures — UITH-ARD Warns

COVID-19 Cases Increasing, Continue With Preventive Measures — UITH-ARD Warns

December 5, 2022
Panic As Monkeypox Spreads To 32 States, Cases Now 604

Panic As Monkeypox Spreads To 32 States, Cases Now 604

November 28, 2022
Over 1bn Youths Risk Hearing Loss From Headphones, Loud Music — Study

Over 1bn Youths Risk Hearing Loss From Headphones, Loud Music — Study

November 28, 2022
Consuming Undercooked Meat May Lead To Tuberculosis — Epidemiologist

Consuming Undercooked Meat May Lead To Tuberculosis — Epidemiologist

November 28, 2022
Infertility Red Flags Men, Women Should Not Ignore – Experts

Infertility Red Flags Men, Women Should Not Ignore – Experts

November 28, 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