The Federal Government has signed a Memorandum of Understanding with Sealink Promotional Company Limited on the use of Ajaokuta jetty landing port, adding that it is a giant stride in the actualisation of its bid to develop and diversify the economy.
The Minister of Mines and Steel Development, Arc Olamilekan Adegbite who signed the MOU on behalf of the Federal Government on Wednesday in Abuja, said the use of waterways as means of transportation has the huge economic benefits.
Adegbite said the benefits of water of transport will increase the volume of commerce, remove the huge logistics challenges encountered on the road as well as reduces the damage done to the roads by heavy duty trucks as well as decrease the high cost of road maintenance.
According to the Minister, the project is being executed in conjunction with Nigeria Export Import Bank (NEXIM), adding that it’s geared towards utilising the commercial value of the jetty as well as the effective usage of the waterway, the Director, Press and Public Relations, Ministry of Mines and Steel, Edwin Opara, made said in a statement.
“The Ministry of Mines and Steel Development has taken a giant stride in the actualisation of its bid to develop 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.
“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.