The Federal Government has signed a Memoranda of Understanding (MoU) with Sealink Promotional Company Limited on the use of Ajaokuta jetty landing port.
It said it is a giant stride in the actualisation of its bid to develop the economy and diversify from crude oil.
Minister of Mines and Steel Development, Arc Olamilekan Adegbite signed the MOU on Wednesday in Abuja.
He stated the use of waterways as means of transportation will not only increase the volume of commerce but would remove the huge logistics challenges encountered on the road, reduce the damage done to the roads by heavy duty trucks as well as decrease the high cost of road maintenance.
Adegbite added that the project is being executed in conjunction with Nigeria Export Import Bank (NEXIM) and geared towards utilising the commercial value of the jetty and effective usage of the waterway.
Director Press and Public Relations Unit for the ministry, Edwin Opara, made these known in a statement.
He stated, “The Ministry of Mines and Steel Development has taken a giant stride in the actualisation of its bid to develope the economy and diversify from crude oil. To this end the Ministry has signed a Memoranda of Understanding (MoU) with Sealink Promotional Company Limited on the use of Ajaokuta jetty landing port.
“The project which is being executed in conjunction with Nigeria Export Import Bank, NEXIM, is geared towards utilizing the commercial value of the jetty and effective usage of the waterway.
“The Minister of Mines and Steel Development, Arc Olamilekan Adegbite, speaking during the signing ceremony, disclosed that the use of waterways as means of transportation will not only increase the volume of commerce, but would remove the huge logistics challenges encountered on the road, reduce the damage done to the roads by heavy duty trucks as well as decrease the high cost of road maintenance.
“Adegbite revealed that the use of the Ajaokuta jetty as landing port for the internal waterways would enable goods to be transported easily and at a cheaper rate and increase commercial activities around the jetty.
“He applauded the collaboration, saying that such Public Private Partnership would aid in economic growth and improve infrastructural development.
“He saluted the doggedness of the team in bringing the project to fruition and assured of the Ministry’s full support.