Assures on Single Digit Loans For facilities

Dr. Peterside Dakuku, DG, NIMASA

In continuation of its commitment to inspire and motivate quality education in the country,  the Nigerian Maritime Administration and Safety Agency, NIMASA,  has donated educational materials to schools in the South-South and South-East geopolitical zones. The gesture is part of the Agency’s Corporate Social Responsibility (CSR) initiative.

Schools in Imo, Rivers, Anambra, and Abia states benefited from the materials, which included desktop computers, laptops, uninterrupted power supply (UPS) system, white boards, exercise books, pens, pencils, white board pens, scientific calculators, and textbooks for English, Mathematics, Biology, Chemistry, Physics, and Economics.

Director-General of NIMASA, Dr. Dakuku Peterside, said the donations were in line with the Agency’s CSR mission to encourage educational excellence and stimulate national development.

Dakuku, who was represented by the Head, Planning, Research, and Data Management Services, NIMASA, Mrs. Ronke Thomas, stated, “We are making these donations to encourage learning and excellence in our education system, which will ultimately inspire development.

“We also intend to encourage students to build a career in maritime and help to drive the on-going efforts to unlock the vast potential of Nigeria’s blue economy.

“Though a few schools have been selected for this educational support exercise, which is being conducted simultaneously across the six geopolitical zones of the country, more schools will be benefitting from this gesture in the near future.”

The benefiting schools include Okrika Grammar School, Okrika; Community Secondary School, Opobo; RoyalCourt School, Rumuekini; Community Secondary School, Ubima; Umuariam Secondary Technical School, Umuariam; Abayi Girls Secondary School; and Modebe Secondary School, Onitsha.

Thanking NIMASA for the kind gesture, a traditional ruler in Imo State, His Royal Highness, Eze Adison Nwaigwe, the Eze Ohachoro III of Umuariam, said, “NIMASA’s choice of these public schools for this donation is symbolic and strategic. Education can make a lot of difference between the poor and the rich. If you commit yourself to quality study, you can get to the top, irrespective of your background.”

The traditional ruler, who was represented by Engr. Ebere Anosike, urged the communities hosting the benefiting schools to support the government and the schools to secure the learning materials.

 The Director, Eastern Zone, NIMASA, Mr. Heaky Dimowo, praised the students’ enthusiasm in learning, saying, “We expect that this modest action of ours performed to convey our love for quality education will help to sustain and, indeed, increase the zeal of the students in education. And we urge the authorities of the recipient schools to ensure that the items are put to judicious use.”

Single Digit Loans Coming

Afters years of wailing and moanings by Nigerian Ship/Facility owner, NIMASA, in collaboration with the Bank of Industry, BOI, has raised hopes on the possibility of single digit loans for maritime operators in Nigeria.

Rising from a meeting with a BIO delegation led by the Managing Director of the bank, Mr. Olukayode Pitan, Dakuku  the partnership with BOI is part of efforts to make Nigerian maritime players competitive in the global maritime arena.

According to the NIMASA DG “We have continuously sought partnerships that would grow our industry. We know that maritime asset financing is one of the major challenges of this industry and we are tackling it head-on. In no distant future our people would be able to reap the benefits of our strategy.”

Pitan commended the NIMASA for its various transformative initiatives in the maritime sector. He said the initiatives had brought renewed confidence in the maritime industry and BOI was ready to partner with NIMASA because the viability of the sector would rub off on the entire economy.

From left: Executive Director Maritime Labour and Cabotage Service of NIMASA, Mr. Gambo Ahmed, The Managing Director Bank of Industry (BOI) Mr. Olukayode Pitan, The Director General NIMASA, Dr. Dakuku Peterside, The General Manager Enterprises (BOI)Mr, Leonard Kange, DGM Oil and Gas of BOI Mrs Ebehi Ehi-Omoike and the Head Cabotage Services of NIMASA, Mr. Victor Egejuru when BOI visited NIMASA

The BOI managing director revealed that the bank has an existing financing model in partnership with the Nigerian Content Development and Monitoring Board (NCDMB), which could also benefit the maritime sector if applied.

Pitan disclosed that “We are proposing a partnership with NIMASA on vessel financing. We already have a similar partnership with NCDMB that is currently running at a single digit of 8%, with little or zero risk for NCDMB since the fund invested by NCDMB is guaranteed by BOI. This model, we think, can also benefit NIMASA and the entire maritime sector.”

At the end of the meeting, NIMASA and BOI agreed, among other things, to work out modalities on financing the acquisition of vessels at a single digit interest rate; provision of guarantee for the funds that NIMASA will entrust to BOI; and management of the portfolio to guarantee effectiveness.

Maritime Stakeholders  expressed hope that this initiative should come to fruition soonest.