JaaizTech: I dey laugh o!. I may be wrong o!, but this appears like a white elephant project whose purpose is to be used mainly as a siphoning pipe to embezzle money.

My question are as follows:

Is it a company that is building the ship manufacturing facility or the Nigerian Government?

Does the Nigerian Government have the technical know how to build ships and have they been building ships before?

How much is the projected return-on-investment for this kind of project?

Wouldn't it be wiser to invest such money into building a new refinery that can produce petroleum products whose demand is currently insatiable.

I just weep for my people...

tomakint: If by 2015 Nigeria remains as ONE and if by 2019 still ONE, then I can declare boldly before ALL that one day in the FUTURE, Nigerians will be grateful to have Goodluck Ebele Jonathan as PRESIDENT!

Rossikk: I doubt any youth in the delta can ever complain of unemployment after the deployment of this facility in the region.

Ismahill: Na so we go hear am.dm no go complete am.pls wats d duratn of d contract

Rossikk: I doubt any youth in the delta can ever complain of unemployment after the deployment of this facility in the region.

Rossikk: [size=16pt]Nigeria Approves $369m For Ship-Building Facility[/size]

October 24, 2013 Ehidiamhen Okpamen. Nigeria is focusing on right pact now. If Nigeria maritime is fully utilize, more than half the population will get job. But my prayer be say make dem nor shop d money


VENTURES AFRICA – Nigeria has approved a N58.6 billion ($369 million) fund for the construction of a ship building facility in the Niger Delta region of the country.

The country’s Minister of Transport, Idris Umar, told reporters that an initial N40.2 billion ($253.2 million) will be provided for the delivery of maritime equipment, with a further N18.4 billion ($115.9 million) for civil and structural engineering works.

According to him, the project will be situated in Delta State – a move that strategically targets Nigeria’s oil industry.

He highlighted the manufacturing deficit present in the shipping industry, which, according to him, costs millions of dollars in overseas vessel acquisition.

“We have a very serious dearth in the ship building capacity in the country and it is, therefore, imperative that we develop the facility in order to curtail the incessant capital flight that is being experienced by the Nigerian economy.

“Annually, we have to be acquiring vessels and ships outside the country which is telling on the economy,” the minister explained.

Once completed, the facility will help reduce the amount spent on procuring ships from foreign manufacturers.

According to the minister, the project has the propensity to drive sustainable development and capacity building in Nigeria’s maritime sector. “It will also help Nigeria to take its rightful place among the developed maritime nations across the world,’’ the minister added.

The project is in line with the West African nation’s drive towards local production of ships and other maritime facilities.

Presently, Nigeria operates 6 ports – Lagos Port Complex and Tincan Island Port Complex, as well as that of Rivers, Delta, Calabar and Onne.

http://www.ventures-africa.com/2013/10/nigeria-approves-369m-ship-building-facility/

igbeke:
i can see u r already salivating for an opportunity dere. common, y dont u just do away wit hate and admit dis is a hit for oga Gej. dont worry, we wont discriminate anyone wen our glory arrives.

JaaizTech:

This is not a anti-tribe thing; it is an issue of common sense. It is obvious that such an investment in the heavy industry is foolish. And I am sure Mr. president is not foolish, so what i believe is that this is just a siphoning pipe to loot money.

And the reasons why this is not a feasible project are not far-fetched:

i) Do we possess the technology or man-power to build ships
ii) How many ships are being bought in Nigeria to warrant investing in such ventures
iii) The demand for cars in Nigeria are insatiable, so if we are so clever, why not start building cars first Why ships
iv)In fact mention anything we build in Nigeria, for us to think we can start building ships
v) I just remembered this one, the telecoms mast we see scattered all around are cities are all imported... if there is any better place to start that may be the place, at least mast are just a mass of steel.

Bros., unless one wants to deceive himself this one na scam.