NOGOF 2023: NIMASA DG calls for Review of Freight Terms

Kathy Kyari

Dr. Bashir Jamoh OFR, Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), has advised stakeholders to take into account switching trading terms in the oil and gas sector from the Free on Board (FOB) model to the Cost, Insurance and Freight (CIF) model.

Speaking at the 2023 Nigeria Oil and Gas Opportunity Fair (NOGOF) in Yenagoa, Bayelsa State, Jamoh added that the policies of the current administration at the Agency are designed to support the efforts of the Nigerian Content Development and Monitoring Board (NCDMB) to expand the Nigerian economy through the oil and gas sector.

The Director of Cabotage Services for the Agency, Mrs. Rita Uruakpa, acted as the NIMASA DG's representative.

The NCDMB's efforts to support the growth of the domestic marine sector, according to Dr. Jamoh, had not gone ignored.

"We appreciate the efforts of the Nigerian Content Development and Monitoring Board at growing the indigenous maritime sector, such as the proposed Brass Shipyard. We at NIMASA will continue to strive for the development of our maritime sector by pursuing policies that will ensure the indigenous capacity is grown, which in turn will impact on our fleet expansion to position them to be able to participate in the affreightment of the products".

Speaking on opportunities for indigenous businesses in maritime, he had this to say, "I want to reiterate that we must also create a suitable and sustainable business and investment environment that will afford indigenous operators’ opportunities to participate in the oil & gas industry with a view to accelerating Nigeria’s income for the Oil Industry which in turn will impact our GDP".

While reiterating that the oil and gas industry is highly technical and does not compromise safety and standards, Mr. Simbi Wabote, Executive Secretary NCDMB, urged companies operating in the sector to appropriately prepare themselves.

“If someone gives you projects he intends to execute in the next two years; Nigerian companies, having listened to the opportunities, should go back and continue to build their capacities in readiness to actively participate". He said.

In order to make it possible for hydrocarbons to be produced profitably and at acceptable rates, he also urged the pertinent agencies to address the worrying security issues, particularly oil theft in the Niger Delta.