African Export-Import Bank (Afreximbank) has provided a grant of 350,000 dollars to facilitate the movement of goods using navigable waterways in Nigeria.<\/p>\n\n\n\n
This is contained in a statement by Amadou Sall, Afreximbank\u2019s Media Contact, on Monday in Abuja.<\/p>\n\n\n\n
Sall said Afreximbank leveraged its partnership with the Nigerian Export-Import Bank (NEXIM), the Federal Ministry of Transportation, and the Nigerian Navy to facilitate the movement of goods using navigable waterways in Nigeria.<\/p>\n\n\n\n
\u201cIn this regard, a major milestone in the quest to unlock the huge potential in transportation on Nigeria\u2019s inland waterways was recorded with the unveiling of the Navigational Charts of the Lower River Niger.<\/p>\n\n\n\n
\u201cThis was done by the Minister of Transportation, Mr Mu\u2019azu Sambo supported by the Secretary to the Government of the Federation, Mr Boss Mustapha.\u201d<\/p>\n\n\n\n
He said the charting project was made possible by the grant from Afreximbank.<\/p>\n\n\n\n
Sall said it was in recognition of the importance of inland waterways transportation and by extension, coastal waterways transportation, to its mandate of promoting Intra-African trade.<\/p>\n\n\n\n
He said Sambo, who spoke at the event, hailed the support from Afreximbank through the grant.<\/p>\n\n\n\n
Sall said the minister reiterated the importance of water transportation as the most environmentally friendly mode of transportation with significant economic benefits.<\/p>\n\n\n\n
He said the minister committed to progress with the subsequent activities involved to make the movement of goods on the lower River Niger from the hinterlands to the coastal lands possible.<\/p>\n\n\n\n
Sall said Afreximbank was represented by Mr Remigius Nwachukwu, Manager of Trade Finance, Anglophone West Africa.<\/p>\n\n\n\n
He said Nwachukwu commended the leadership and vision of Prof. Benedict Oramah, President and Chairman of the Board of Directors, Afreximbank towards the realisation of this project.<\/p>\n\n\n\n
Nwachukwu said that existing African infrastructure was designed to carry African commodities to the global markets and not to facilitate intra-African trade.<\/p>\n\n\n\n
\u201cIn this context, Afreximbank decided to support the development of the maritime sector including inland waterways.<\/p>\n\n\n\n
\u201cThis is to ensure that there are efficient and cost-effective routes to facilitate intra-African trade under the African Continental Free Trade Agreement (AfCFTA).\u201d<\/p>\n\n\n\n
Sall said the inauguration of the navigational charts followed a maritime survey and charting project executed by the Sealink Consortium in collaboration with the Nigerian Navy, Nigeria Inland Waterways Authority(NIWA), and NEXIM.<\/p>\n\n\n\n
He said it was financed through the grant from Afreximbank and the navigational charting was undertaken by a wholly indigenous team from the Nigerian Navy and NIWA.<\/p>\n\n\n\n
Sall said the Regional Sealink Project is a trade facilitation initiative designed to bridge the critical logistics infrastructure gap toward facilitating and deepening inland and intracoastal waterways operations.<\/p>\n\n\n\n
\u201cThe charts provide information on navigable and restricted areas of the river channel as well as serve as a springboard to attaining a fully developed navigable channel.\u201d<\/p>\n\n\n\n
He said the charting covered a distance of 456 km from Jamata, Lokoja to Burutu.<\/p>\n\n\n\n
Sall said the charting had been approved by the International Centre for Electronic Navigational Charts having met International Hydrographic Organisation\u2019s standards.<\/p>\n\n\n\n
He said some more work like dredging and removal of identified wrecks was still expected to be done on the channel,<\/p>\n\n\n\n
\u201cHowever navigational activities can commence with the use of the charts which mariners can obtain from the International Centre for Electronic Navigational Charts either in hard copy or electronic form.\u201d<\/p>\n\n\n
African Export-Import Bank (Afreximbank) has provided a grant of 350,000 dollars to facilitate the movement of goods using navigable waterways in Nigeria. This is contained in a statement by Amadou Sall, Afreximbank\u2019s Media Contact, on Monday in Abuja. Sall said Afreximbank leveraged its partnership with the Nigerian Export-Import Bank (NEXIM), the Federal Ministry of Transportation, […]<\/p>\n","protected":false},"author":2,"featured_media":17998,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1366,949,241],"tags":[281],"class_list":["post-49349","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-economy","category-foreign","tag-afreximbank","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"\n