Home Business FG seeking 60 % indigenous investors in national fleet – Amaechi

FG seeking 60 % indigenous investors in national fleet – Amaechi

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The Minister of Transportation, Mr Rotimi Amaechi, has said that Nigeria is seeking for 60 per cent requisite indigenous investors’ participation in the upcoming national fleet.

Amaechi disclosed this in an interview on the sidelines of the Association of African Maritime Administration (AAMA) Conference closing on Friday in Abuja.

“On the national fleet, the number of investors we have is still very low.

“We have the foreign investor, a Singaporean company, but Nigerian investors are very few if at all they are.

“The law says there must be 60 per cent of Nigerian investors and 40 per cent of foreign investors but we do not have the Nigerian investors now.

“What we are doing is trying to ensure that we have the Nigerian investors because we have the foreign investors already. “

He, however, said that he intended to discuss with President Muhammadu Buhari, if it was possible for the Federal Government to invest in the national fleet which would solve the problem.

Amaechi noted that the Implementation Committee on the National Fleet must stick to the law.

The minister said that for some of the maritime challenges to be solved, Africans must invest in Africa rather than investing in other countries outside the continent.

“If we are producing, we will export. So, what Africans can do is to focus on production.

“When we are producing, people will be interested in doing business with us. “

Amaechi further said that there was a new security infrastructure that had been put in place by the government to checkmate the issue of insecurity on Nigerian waterways.

NAN