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Nigeria, Greece Sign Ship Acquisition Deal

Channels Television  
Updated July 9, 2015

shipNigeria and Greece have signed a deal that will enable Nigerian ship owners to own vessels that would be transferred to them by their Greek counterparts.

At a ceremony held recently in Lagos, Nigerian ship owners were offered 40 ships of various tonnage and class from Greece, with ownership transfer after a period of 24 months.

Nigeria imports about 1.7 billion litres of petroleum products each month but does not own a single vessel to participate in the global maritime trade.

This new vessel acquisition agreement will help Nigeria to protect its maritime industry and ensure indigenous participation in the shipping business worth about three trillion dollars annually.

Nigeria and Greece are two countries on two different continents faced with socio-economic troubles.

Greece faces another crucial decision this Sunday to sort out a multi-billion euro bailout deal with the European central bank.