Mr Dakuku, speaking at a media breakfast meeting during the Nor-Shipping Conference, reported that such a result will end the capital flight, associated with the present arrangement where Nigeria sells its oil on free on board basis to customers and will also lead to employment creation.

Specifically, Nigerian investors will hold equity in lots, whereas the national fleet will be private sector led for sustainability and profitability.

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The plan of the national fleet is amongst the country's plans to be in line with the blue economy. To boost the plans, Mr Dakuku invited local and foreign investors who are interested in the project, to collaborate with the country, and take advantage of the rich potentials of the maritime sector in Nigeria, as the government has incentivised the sector with offers of tax holidays and institutional support.

In the meantime, he noted that Nigeria is boosting its maritime security in protection of Nigerian territorial waters. The assets of maritime security include patrol boats, special mission aircrafts, helicopters , unmanned air vessels and special mission ships.

The assets that are acquired under Nigeria's 'Deep Blue Project' will come into operation by September 2019. The 'Deep Blue Project' is a conscious effort towards addressing illegality in Nigeria's territorial waters and, indeed, the Gulf of Guinea.

Concluding, Mr Dakuku highlighted that Nigeria accounts for the 70% of seaborne trade into west and central Africa and is endowed with a skilled workforce and the world’s ninth largest hydrocarbon deposits.