Dangote Refinery: NIMASA Foresees Revenue Decline

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The Nigerian Maritime Administration and Safety Agency (NIMASA) has projected a decrease in revenue following the commencement of operations by the Dangote Refinery.

According to NIMASA, the anticipated drop in revenue stems from a significant reduction in the volume of ships importing petroleum products, leading to a decrease in the 3 percent freight levy collected on ships by the agency.

Bashir Jamoh, Director-General of NIMASA, made these remarks during a courtesy visit by a delegation from Dangote Port operations, led by Akin Omole, Managing Director of Dangote Port Operations. Despite the potential revenue decline, Jamoh emphasized the economic growth and long-term benefits that the refinery would bring to the Nigerian populace, outweighing the immediate revenue gains for NIMASA from oil imports.

Jamoh assured that NIMASA is committed to ensuring that the operations of Dangote Ports and Refinery are not impeded by regulatory instruments under the provisions of the Cabotage law. He underscored NIMASA’s commitment to collaborating with Dangote Ports to ensure compliance with Federal Government regulations regarding Wet Cargo affreightment.

Source: Parrot Nigeria News

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