By David Kabiyesi
As part of its ongoing effort to ensure that all governments sector is yielding positive results, the federal government is hoping to generate a whopping $1.1 billion from the maritime industry, iwitnesslive.com gathered.
The income is expected to come from all concessioned projects embarked on by Nigerian Maritime Administration and Safety Agency (NIMASA) monitored by Infrastructure Concession Regulatory Commission (ICRC) within 10 years
The project as listed by ICRC are Eastern Offshore Waste Reception Facility, Central/Western Offshore Waste Reception Facility, and a Floating Dry Dock.
The approved FRCN PPP project which will run for 55 years is expected to generate N14.9 billion after being concessioned by Fish Valley Investment and Property Limited.
A staff member of the ICRC revealed that the projected total revenue from Eastern OWRF for the entire concession period due to the Federal Government based on revenue sharing ratios of US$279,487,228.35”,
“The projected total revenue for the entire concession period from the Central and Western zones due to Federal Government based on the revenue sharing ratios is US$765,289,988. he revealed.
