The House of Representatives at on Thursday approved the establishment of the Nigerian Maritime Trust Fund (NMTF) for the purpose of training, provision of security equipment and related facilities and enhance the skills of the personnel of the Nigerian Navy.
The approval followed the consideration and adoption of the recommendations in the Bill’s report presented by the Chairman, House Committee on Navy, Hon. Yusuf Gagdi (APC, Plateau).
Gagdi said the NMTF will be funded from one per cent of the total revenue accruing to the Nigeria Ports Authority (NPA), Nigerian Maritime Administration and Safety Agency (NIMASA), Nigerian National Petroleum Corporation (NNPC), National Inland Waterways Authority (NIWA) and the Nigeria Liquefied Natural Gas (NLNG).
He said the Bill will provide funding for equipment and machinery that would aid the seamless protection of waterways by the Nigerian Navy.
This, according to him, will help to guarantee a robust economic development of the country.
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