Nigeria to Construct Ship Building Facility in Niger-Delta

Nigeria’s Minister for Transportation, Idris Umar, has announced the government’s approval of N58.6 billion to construct a ship building facility in the Niger Delta. He said an initial N40.2 billion will be provided for the delivery of maritime equipment, and N18.4 billion for civil and structural engineering works. He said, “We have a very serious dearth in the ship building capacity in the country and it is, therefore, imperative that we develop the facility in order to curtail the incessant capital flight that is being experienced by the Nigerian economy.” “Annually, we have to be acquiring vessels and ships outside the country which is telling on the economy.” The project, he said, “will also help Nigeria to take its rightful place among the developed maritime nations across the world.’’  

---

You might also like:

• How to Make Your Business Withstand Tough Economic Times
• Central Bank of Nigeria (CBN) Refutes Claims of Naira Devaluation
• The Role of Nigerian Workers in Building the Economy
• The CBN’s Plan To Redesign The Naira: 6 Facts You Should Know

This article was first published on 25th October 2013

---

---

Comments (0)