The Nigerian Maritime Administration and Safety Agency (NIMASA) has introduced the Deep Blue Project, a major initiative aimed at tackling insecurity in Nigeria’s waters and the wider Gulf of Guinea. According to Dakuku Peterside, Director General of NIMASA, the project is designed to drastically reduce criminal activities in the region.

Speaking during the 2019 Petroleum Technology Association of Nigeria (PETAN) workshop at the Offshore Technology Conference (OTC) in Houston, Texas, Peterside outlined that the project will combine training with the acquisition of advanced security equipment. These include fast-response vessels, surveillance aircraft, and a command center for data collection and information sharing to enhance enforcement efforts.

He also revealed that NIMASA is in talks with the Nigeria Customs Service (NCS) and the Ministry of Finance to introduce a special tariff for vessel acquisition. This move is expected to ease the financial burden on local operators, allowing more Nigerians to enter the maritime sector.

“The high cost of acquiring vessels is pushing many indigenous players out of the market,” Peterside said. “We are working with the relevant authorities to create a special tariff window, which will help reduce costs and enable local operators to compete with their foreign counterparts.”

In addition, Peterside announced that NIMASA is reviewing the guidelines for accessing the Cabotage Vessel Financing Fund (CVFF), a fund created to assist local shipping operators. With over $150 million currently available, the fund is expected to lower the cost of financing and support infrastructure development in the sector. Peterside emphasized the importance of building local capacity and creating more opportunities for Nigerians to own vessels and work in the industry.