President Muhammadu Buhari has approved $186million to combat and stem the cycle of criminalities on the Nigerian waters.

The Federal Government has also approved N100m for the dredging of the River Niger.

Minister of Transport, Rotimi Amaechi made this on Thursday, at a-Day National Conference on Fast-Tracking Port Reforms organised by the Federal Ministry of Transportation in collaboration with The Nation Newspapers and Epsilon Limited in Lagos.

Addressing over 800 participants at the forum, Amaechi said $186m has been approved by President Buhari for the fight against piracy and other criminalities on the waterways.

Part of the money, the Minister said, would be used to buy three helicopters and three aircrafts among others.

His words: “Mr. President has approved $186million to fight piracy in our waters. The funds will be used to buy three helicopters, three aircrafts, 12 vessels stationed in the water. In the next 3 months, all of them would be deployed to fight piracy in our waters.

On the dredging of the River Niger, Amaechi said N100m has been budgeted for the dredging of the project against the N34b paid by the former administration of President Goodluck Jonathan for the same project.

In her speech, the Managing Director, Nigerian Ports Authority,NPA, Hadiza Usman said the gateways to international trade and regarded as major accelerators of local economic development.

“According to the Economic and Social Commission for Asia and the Pacific (ESCAP), the Netherlands has been able to sustain a relatively high economic growth rate because of the Port of Rotterdam, in spite of the intensely competitive environment in Europe.

The success of Singapore is equally attributed to the Port of Singapore which has developed a transport logistic centre and has successfully been able to attract foreign investment.

Given the abundant mineral and agricultural resources available in most regions of Nigeria and the desire of the Federal Government to diversify the economy, Usman said there was need to explore opportunities to boost economic development.

The Federal Government under President Mohammadu Buhari, she said, has identified agriculture and Solid Minerals as upbeat and that the maritime Industry will play a major role in the movement of the produce and minerals to international market.

In his speech, the Managing Director and Editor -in-Chief of The Nation Newspaper Mr Victor Ifijeh thanked Amaechi for acceding to the request to collaborate with the paper on the port reform summit.

For the Federal Government’s plans for the sector to succeed, the Editor-in-Chief said the port agencies need to integrate their plans and carry along not only the stakeholders but the Nigetian public.

He urged the forum to create a peer-facilitated platform which can be used to make the agencies accountable to the goal jointly agreed.

Considering the presence of maritime experts at this forum, we are confident that lasting solutions will be provided to the challenges bedeviling smooth ports operation,” he said.

Ifijeh thanked the Chief Executives of NPA, NIMASA, NIWA, the Nigerian Shippers Council, the participants and other stakeholders at the forum for their support.