NEXIM Bank, NIWA collaborate to harness Inland Waterways potentials

Abiola Seun

The National Inland Waterways Authority (NIWA), the Nigerian Export – Import Bank and SEALINK Promotional Company Limited over the weekend signed a Memorandum of Understanding (MoU) that recognizes the pivotal role of Inland Waterways in national economic development.

The tripartite MOU signing which was a deliberate attempt to bridge the infrastructure gap and provide an alternative mode of transportation for evacuation of economic goods and persons on the nation’s Inland Waterways had Dabney Shall-Homa representing SEALINK Promotional Company; the Managing Director, National Inland Waterways Authority (NIWA), Sen. Adeleke Mamora and the Managing Director and Chief Executive of Nigeria Export-Import Bank Abubakar Abba Bello .

The SEALINK Project will establish a maritime shipping line which will provide cabotage, passenger services and goods haulage among the countries of the Joint Development Zone (JDZ).

The project is aimed at reducing the cost of moving cargoes among the countries of the JDZ and increasing maritime and trade activities among them.

The project, when completed will reduce the cost of moving cargo and increase maritime and trade activities by ensuring payment of duty only on goods delivered to the ports of final destination, improve frequency of maritime services as well as improve private sector initiative through the provision of efficient sea transport services by giving competitive edge to exporters and importers.

Others are reduce transportation costs,
Eliminate the need for cargo trans-shipment and
Increase trade volume and improve efficiency in transportation in the Sub-region; and
Boost economic growth and development for Nigeria

According to a statement made available to by the General Manager, Corporate Affairs of NIWA, Tayo Fadile, the authority said it is delighted to partner with NEXIM and SEALINK promotional company and its strategic Consortium partners in the facilitation of bulk cargo movement on inland waterways and promoting hinterland and transit trade.

According to the statement, the MOU will hopefully encourage efficient transportation system in line with global best practices that is safe, seamless and affordable.
It will also support River Port Development, and modernization of existing NIWA facilities across the nation.

The statement read, “The MOU will support the survey, underwater engineering works, removable and disposal of wrecks among several other projects geared towards improving and developing inland waterways navigation.”

“By the time the MoU is fully implemented, Nigeria’s Inland Waterways will never be the same. This is good news to all stakeholders on Nigerian Inland Waterways.

“This positive development will better position NIWA to provide ways and means on Nigerian Waters,” Fadile said in the statement.