Shipowners estimate that $20 million is spent each year on vessel repairs.

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Despite the Nigerian Maritime Administration and Safety Agency’s (NIMASA) acquisition of a N50 billion floating dock, Nigerian shipowners have indicated that they spend between $15 million and $20 million per year on ship repairs abroad.

Ship repairs have been a huge concern for operators, according to Mr Aminu Umar, President of the Nigerian Chamber of Shipping, who spoke to our correspondent in Lagos recently.

One of the five types of dry docks used for ship maintenance is a floating dry dock. At the start of President, Major General Muhammadu Buhari’s (retd.) administration, the government decided to purchase a floating dock to boost the country’s ship repair capability and change the marine industry to generate money and jobs.

Umar, on the other hand, questioned the reasoning behind the purchase of the floating dock and adviced that they sold the floating dock.

Punch.

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