FG concessions NIMASA floating dock to J. Marine Logistics for 15 years

FG concessions NIMASA floating dock to J. Marine Logistics for 15 years
NIMASA Floating Dock


The Federal Government has approved the concessioning of a floating dock acquired by the Nigerian Maritime Administration and Safety Agency (NIMASA) in 2019 to a company known as J. Marine Logistics Limited. 

The N50 billion floating dock has been idle since its acquisition by the agency more than three years ago. 

Director General of the Infrastructure Concession Regulatory Commission (ICRC), Michael Ohiani, who disclosed this in Abuja on Thursday, said the floating dock concession contract was based on Operate, Maintain and Transfer (OMT) basis for an initial period of 15 years. 

He said the concessioning of the floating dock is expected to generate $65.6 million (about N27.2 billion) into the coffers of NIMASA and create over 800 direct and indirect jobs.

Beyond revenue generation, he said the floating dock is also expected to develop capacity and provide maintenance facilities for ships and boats. 

Ohiani also said that the Federal Executive Council (FEC) approved the award of contract for Eastern Offshore Waste Reception Facilities (OWRF) and Central/Western Offshore Waste Reception Facility for NIMASA. 

According to ICRC Director General, the essence of the OWRF is to put in place a standard facility for use in Nigeria international waters in compliance with the International Convention for the Prevention of Pollution from Ships (MARPOL) 1973/1978. 

He said XPO Marine Services Limited was approved as the concessionaire for Eastern OWRF for an initial period of 10 years while African Circle Pollution will operate the Central and Western OWRF also for 10 years. 

“The projected total revenue from Eastern OWRF for the entire concession period due to Federal Government based on revenue sharing ratios is US$279,487,228.35.

“The projected total revenue for the entire concession period from the Central and Western zones due to Federal Government based on the revenue sharing ratios is US$765,289,988,” he said.

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