• Home
  • Radio
  • TV
  • Advertisement
  • Disclaimer
  • Public Notice
    • Opinion
  • New Africa Business News
  • Contact
  • Log In
facebook
    • News
    • Business
    • Video
    • Entertainment
    • Sport
    • Jobs
    • Government
    • Immigrants
    • Investment
    • Gallery
      • Animal
      • Africa Map
    • NGO
    BREAKING NEWS
    West Africa Gold Production Expected to Increase by 2.7% in 2021 According to Report
    Sierra Leone’s Ministry of Fisheries and Marine Resources upheld Friendship with Amsoft Technologies to enhance Canoe Registration Web Portal and Portative Application
    N10 Billion filled into the Scholastic realm of Nigeria by Dangote
    African Export-Import Bank (Afreximbank), African Association of Automotive Manufacturers (AAAM) Signs Agreement to Drive Automotive Investment in Africa
    African Union Commissioner disclosed Agriculture is crucial to African Growth
    $200 Million conserved by Rwanda for Continental Export Appropriation, Vincent Biruta Rwanda’s Minister of Foreign Affairs, unearthed
    Kenya Electricity Generating Company (KenGen) Signed Deal to Drill Geothermal Wells in Djibouti
    Egypt‘s – Benban Solar Park Enterprises envisions to Glisten the more in 2021
    Erstwhile Finance Minister of Nigeria – Ngozi Okonjo-Iweala shall receive the Insignia of Royalty as the first Woman and first African Director General of the World Trade Organization on February 15th, 2021
    South Africa prevails Zimbabwe’s biggest trading confederate

    $3 Billion Expended Four Years in a Row by Nigeria’s Oil Industry on Marine Vessels, Nigeria Content Development and Monitoring Board Discloses

    Posted On 21 Aug 2020
    By : New Africa Business News, Staff Correspondent
    Comments: 14

    By Abdul Rahman Bangura–

    Photo Credit: Facebook

    NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone– According to release from the Nigerian Content Development and Monitoring Board (NCDMB) that, between 2014 and 2018, the nation’s oil sector disbursed a total of $3.047 billion on marine vessels. And that NCDMB divulged that 73% of the total $3.047 billion was paid on crew boats, security vessels, diving support vessels, and quick supply intervention vessels.

    Simbi Wabote – Executive Secretary NCDMB who submitted the evidence of the spending, noted over $600 million is expended yearly on more than 20,000 ships operating on Nigerian waters. The Executive Secretary added, the Board wished undone that, most of the vessels that operate in the Oil Industry are taken to Ghana, Equatorial Guinea, Cameroun, and other countries for dry-docking because “our local dry docks were built many years ago and no longer provide the required services,” he expanded.

    In this regard, the Federal Government has begun a feasibility study for the construction of a shipyard in Brass Island – Bayelsa State. And that the shipyard will cater for the supervision and rehabilitation services of cargo vessels, oil tankers and Liquefied Natural Gas carriers.

    Minister of State for Petroleum Resources – Timipre Sylva, who chaired the project’s kick-off meeting, stated the project will be implemented by China Harbour Engineering Company. Sylva remarked that, the high trade of vessels in and out of the nation gives an enormous alternative to maintain significant importance in Nigeria through the provision of dry-dock services. The spectrum of the feasibility study, he explained, encompasses geotechnical and bathymetric surveys, conducting a market study, verifying an optimal construction scale, developing technical proposal and construction plan and estimation of the mandatory enterprise to bring the project into actuality.

    New Africa Business News
    Africa’s Fastest Growing Global Newspaper. Forward www.newafricabusinessnews.com

    The Minister affirmed, the shipyard project will boost, develop and harness the country’s position in the oil and gas value chain and association to other sectors of the economy. In extension, the project is also anticipated to profit from the forthcoming enactment of the Africa Continental Free Trade Agreement (AfCFTA) as Nigeria could serve as a hub for ship-building and repairs. Wabote ensured that, the Brass shipyard project and other ongoing efforts to catalyze manufacturing will help the Board to achieve the target of 70% Nigerian Content by 2027. He asserted that, the project was being propelled by the NCDMB in affiliation with the Nigerian Liquefied Natural Gas, NLNG, a Capacity Development Initiative (CDI) on the back of the Train 7 Project.

    The NCDMB boss further revealed that, Nigeria has a long coastline of 853 kilometers and unobstructed inland waterways of 3,000 kilometers which present tremendous potential for maritime sector development, stressing that Brass coastline, was very close to the Atlantic Ocean. He recorded the objectives of NCDMB’s Marine Vessel Strategy to include promotion of indigenous ownership, increase participation and increase capacity of local shipyards to build, service and maintain marine vessels of various sizes and manufacturing of vessel components and consumables in-country.

    Other objectives of the Marine Strategy, he advanced, include: giving first consideration to Nigerian built or owned vessels for contract award and job offers, discourage capital flight, generate employment and increase retention of Industry spends and stimulate value creation.

     

    Invest in Modern Africa
    Africa Fastest Growing Continent. Six of the World’s Ten Fastest Growing Economies are in Africa. More than Half of Global Population Growth between now and 2050 is Expected to Occur in Africa. This Decade Belongs to Africa as Technology Ripples through the Continent. Africa the Untapped Market. Africa Great Continent to Invest & Grow Business. Africa the Last Frontier for Investment. Africa is the Future.

     

    New Africa Business News Person of the year 2020
    Start Voting for New Africa Business News Person of the year 2020. Nomination Starts July 04 & Ends December 15/ 2020. Please Submit your Nominee’s Name, Country, Brief Reason for the Nomination. Please Limit Submission to 50 words and One Submission per Person. Email all Nomination to info@newafricabusinessnews.com. New Africa Business News Person of the year will be Announced January 01/ 2021. New Africa Business News. Africa’s Most Read and Fastest Growing Global Newspaper.  www.newafricabusinessnews.com 

     

    AFRICAN CONTINENTAL FREE TRADE AREA (AfCFTA)
    Accelerating Intra-African Trade and Boosting Africa’s Trading Position in the Global Market by Strengthening Africa’s Common Voice and Policy Space in Global Trade Negotiations. For More Information Contact: African Union Headquarters, P.O. Box 3243, Roosvelt Street W21K19, Addis Ababa  Ethiopia, Tel: +251 11 551 77 00  Fax: +251 11 551 78 44.

     

    Africa President of the year 2020
    Start Voting for Africa President of the year 2020. Nomination Starts February 01 & Ends December 15/ 2020. Please Submit your Nominee’s Name, Country, Brief Reason for the Nomination. Please Limit Submission to 50 words and One Submission per Person. Email all Nomination to info@newafricabusinessnews.com. Africa President of the year will be Announced January 01/ 2021. New Africa Business News. Africa’s Most Read and Fastest Growing Global Newspaper.  www.newafricabusinessnews.com 

     

    HELP FIGHT CLIMATE CHANGE
     United Nations Environment Programme (UNEP) Leading Global Environmental Authority that Sets the Global Environmental Agenda, Promotes Coherent Implementation of the Environmental Dimension of Sustainable Development within the United Nations System, and Serves as an Authoritative Advocate for the Global Environment.  Visit:  www.unenvironment.org  

     

    For New Africa Business News (NABN) Abdul Rahman Bangura Reports,  Africa Correspondent

    Facebook: newafricabusinessnews.com

    Email: Info@newafricabusinessnews.com

    AFRICA’S MOST READ AND FASTEST GROWING GLOBAL NEWSPAPER – www.newafricabusinessnews.com

    About the Author
    New Africa Business News Staff Correspondent
    • google-share
    Previous Story

    Ghana Approves €598.7 Million to Construct 70 Kilometer Western Railway Line

    Next Story

    Zimbabwe Recounted Notable Susceptibilities in the Policies of the Expenditure Operators

    14 Comments

    1. Gabor August 21, 2020 at 2:52 am Reply

      Thank you for signing me to new Africa business news newsletter. Helsinki Finland. Gabor

      • New Africa Business News, Staff Correspondent August 21, 2020 at 2:53 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    2. Olabisi August 21, 2020 at 2:58 am Reply

      Let’s finish the job Nigerian Content Development and Monitoring Board. Thank you for your reports. Lagos Nigeria. Olabisi

      • New Africa Business News, Staff Correspondent August 21, 2020 at 2:59 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    3. Abigail August 21, 2020 at 3:06 am Reply

      I hope the NCDMB spend the money as they said. Corruption are delaying many developments. Time to spend the money as it said. Abuja in Nigeria. Abigail

      • New Africa Business News, Staff Correspondent August 21, 2020 at 3:07 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    4. Berlyn August 21, 2020 at 3:16 am Reply

      Follower of your online newspaper on Facebook. Thank you. Berlin Germany. Berlyn

      • New Africa Business News, Staff Correspondent August 21, 2020 at 3:17 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    5. Sofia August 21, 2020 at 3:27 am Reply

      Hope the executive secretary of NCDMB is right and not that money in their pockets. Abuja, Nigeria. Sofia

      • New Africa Business News, Staff Correspondent August 21, 2020 at 3:29 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    6. Mopipi August 21, 2020 at 3:45 am Reply

      Yea! That’s why they all like working for their governments. Dirty rich over night and sign bad deals with China. Mopipi. Botswana. Ketso

      • New Africa Business News, Staff Correspondent August 21, 2020 at 3:46 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    7. Antonio August 21, 2020 at 3:56 am Reply

      Sad they only wanted to enrich themselves and be puppet of China. However, the young Africans all over the Continent are not going to put up with fail policies and corruption. Thank you for the report. Mabote Mozambique. Antonio

      • New Africa Business News, Staff Correspondent August 21, 2020 at 3:57 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    Leave a Reply Cancel reply

    *
    *

    Members Area

    • Members Log In

    RECENT

    POPULAR

    COMMENTS

    West Africa Gold Production Expected to Increase by 2.7% in 2021 According to Report

    Posted On 24 Feb 2021

    Sierra Leone’s Ministry of Fisheries and Marine Resources upheld Friendship with Amsoft Technologies to enhance Canoe Registration Web Portal and Portative Application

    Posted On 23 Feb 2021

    N10 Billion filled into the Scholastic realm of Nigeria by Dangote

    Posted On 22 Feb 2021

    New Africa Business News, Person of the Year 2020-2021, Goes to Dr. Arikana Chihombori Quao

    Posted On 01 Jan 2021

    New Africa Business News, Africa President of the Year 2020-2021 Goes to Tanzania's John Pombe Joseph Magufuli

    Posted On 01 Jan 2021

    New Africa Business News, REPORTER of the Year 2020-2021, Goes to Richard Adorsu

    Posted On 08 Feb 2021

    Thank you Richard for the report. Africa...

    Posted On 24 Feb 2021

    Thanks for reading, Africa’s fastest...

    Posted On 24 Feb 2021

    Gold is extremely expensive, let's sell...

    Posted On 24 Feb 2021

    Facebook

    Latest Posts

    West Africa Gold Production Expected to Increase by 2.7% in 2021 According to Report

    Sierra Leone’s Ministry of Fisheries and Marine Resources upheld Friendship with Amsoft Technologies to enhance Canoe Registration Web Portal and Portative Application

    N10 Billion filled into the Scholastic realm of Nigeria by Dangote

    Recent Posts

    • West Africa Gold Production Expected to Increase by 2.7% in 2021 According to Report
    • Sierra Leone’s Ministry of Fisheries and Marine Resources upheld Friendship with Amsoft Technologies to enhance Canoe Registration Web Portal and Portative Application
    • N10 Billion filled into the Scholastic realm of Nigeria by Dangote
    • African Export-Import Bank (Afreximbank), African Association of Automotive Manufacturers (AAAM) Signs Agreement to Drive Automotive Investment in Africa
    • African Union Commissioner disclosed Agriculture is crucial to African Growth

    Categories

    • Business
    • Education
    • Entertainment
    • Featured
    • Government
    • Immigrants
    • Investment
    • News
    • NGO
    • Obituary
    • Opinion
    • Public Notice
    • Sport
    • Video

    Tag Cloud

    african economy business africa

    Contact Form

    1. Name *
      * Please enter your name
    2. Email *
      * Please enter a valid email address
    3. Message *
      * Please enter message
    Copyright 2019 New Africa Business News, Inc. A Global International Company, Inc. All Rights Reserved.