A Memorandum of Understanding (MoU) between Nigeria and Singapore on the re-establishment of a national fleet for the country would soon be sealed.
This was disclosed in Lagos on Thursday by the Minister of Transportation, Rotimi Amaechi, during a meeting with stakeholders and the Ministerial Committee on the re-establishment of a national fleet.
The Federal Government will partner with the Pacific International Lines (PIL) Singapore for the establishment of the fleet.
Amaechi said at the occasion that PIL had expressed interest in a Joint Venture (JV) with Nigeria for the project, pointing out that the deal would boost indigenous participation in shipping and give more credence to the Nigerian flag.
The Minister said government is committed to ensuring an enabling environment on which the private shipping initiative would blossom.