Transaction Adviser To Be Appointed For Proposed National Carrier

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Hassan Bello

The Nigerian Shippers Council (NSC) said on Tuesday that it would appoint a `Transaction Adviser’ for the proposed national carrier to enhance its transparent, effective and smooth operations.

Executive Secretary of the agency, Mr. Hassan Bello, disclosed this in an interview with the News Agency of Nigeria (NAN) in Abuja.

According to him, the Transaction Adviser would be in charge of all transactions, shopping for investors, registering of companies and tidying the financial process of the fleets.

”We have gone very far with the national fleet. Transaction Adviser is about to be appointed.

“So, when the Transaction Adviser is appointed and all transactions are going to be handled by the Transaction Adviser as an expert.

“He will handle all aspects of promoting investors, registering of the companies, attract finance and getting subscribers,” he said.

The Executive secretary said the national carrier was going to be a joint venture between Pacific International Lines (PIL) of Singapore and Nigerian investors.

Bello disclosed that a Memorandum of Understanding (MoU) had been signed between the Council and PIL, because of its expertise in fleet management and knowledge of the market.

“There will be sensitisation of prospective Nigerian investors; it will be a joint venture with PIL of Singapore and Nigerian investors.

”Where PIL will have 40 per cent of the equity and Nigerians will have 60 per cent; we have signed a MoU with PIL because of their expertise in fleets management and of course knowledge of the market so we will rely on their technical abilities.

“But 60 per cent of the business will be a Nigerian company, and it will be on dry cargoes and wet cargoes.”

The executive secretary further said that it was private sector driven where government would not invest a kobo in it.

He added that the venture will be a partnership, saying “there is no time line to achieve that; but the government will just do its part and hand over to the private sector.’’

He nonetheless said the council is still working on it; saying “it is a tentative work and not something you just do because we have to avoid mistakes.”

PIX: Hassan Bello