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’s Media Contact, on Monday in Abuja.
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.
“In this regard, a major milestone in the quest to unlock the huge potential in transportation on Nigeria’s inland waterways was recorded with the unveiling of the Navigational Charts of the Lower River Niger.
“This was done by the Minister of Transportation, Mr Mu’azu Sambo supported by the Secretary to the Government of the Federation, Mr Boss Mustapha.”
He said the charting project was made possible by the grant from Afreximbank.
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.
He said Sambo, who spoke at the event, hailed the support from Afreximbank through the grant.
Sall said the minister reiterated the importance of water transportation as the most environmentally friendly mode of transportation with significant economic benefits.
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.
Sall said Afreximbank was represented by Mr Remigius Nwachukwu, Manager of Trade Finance, Anglophone West Africa.
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.
Nwachukwu said that existing African infrastructure was designed to carry African commodities to the global markets and not to facilitate intra-African trade.
“In this context, Afreximbank decided to support the development of the maritime sector including inland waterways.
“This is to ensure that there are efficient and cost-effective routes to facilitate intra-African trade under the African Continental Free Trade Agreement (AfCFTA).”
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.
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.
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.
“The 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.”
He said the charting covered a distance of 456 km from Jamata, Lokoja to Burutu.
Sall said the charting had been approved by the International Centre for Electronic Navigational Charts having met International Hydrographic Organisation’s standards.
He said some more work like dredging and removal of identified wrecks was still expected to be done on the channel,
“However 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.”
