The Federal Government has signed a Memoranda of Understanding (MoU) with Sealink Promotional Company Limited on the use of Ajaokuta jetty landing port.
It said it is a giant stride in the actualisation of its bid to develop the economy and diversify from crude oil.
Minister of Mines and Steel Development, Olamilekan Adegbite signed the MOU on Wednesday in Abuja.
He stated the use of waterways as means of transportation will not only increase the volume of commerce but would remove the huge logistics challenges encountered on the road, reduce the damage done to the roads by heavy duty trucks as well as decrease the high cost of road maintenance.
Adegbite added that the project is being executed in conjunction with Nigeria Export Import Bank (NEXIM) and geared towards utilising the commercial value of the jetty and effective usage of the waterway.
Director Press and Public Relations Unit for the ministry, Edwin Opara, made these known in a statement.
He said, “The Ministry of Mines and Steel Development has taken a giant stride in the actualisation of its bid to develop the economy and diversify from crude oil. To this end the Ministry has signed a Memoranda of Understanding (MoU) with Sealink Promotional Company Limited on the use of Ajaokuta jetty landing port.
“The project which is being executed in conjunction with Nigeria Export Import Bank, NEXIM, is geared towards utilizing the commercial value of the jetty and effective usage of the waterway.”
