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NIMASA reviews Nigerian crude terms of trade


The Nigerian Maritime Administration and Safety Agency (NIMASA) says it has renewed efforts to reconsider the terms of trade for carrying Nigerian crude oil from Free on Board to Cost Insurance and Freight.

This was disclosed by the Director-General of NIMASA, Dr Bashir Jamoh, in Lagos, when he received a delegation from the Nigerian National Petroleum Corporation.

According to a statement by NIMASA Corporate Communications Head, Philip Kyanet, the NNPC delegation was led by the newly appointed Group General Manager, Crude Oil Marketing Division, Billy Okoye.

The NIMASA DG in the statement titled ‘Crude Affreightment: NIMASA revives move to change terms of trade’ also disclosed that the agency was working towards the implementation of a National Maritime Security Strategy to improve security in Nigerian waters and reduce the cost of shipping.

Source PUNCH
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