The Federal Government through the efforts of local shippers, is expected to save N5.4 billion monthly from the 1.8 billion litres of petroleum products imported into the country.

This will however be made possible if Nigerian crewed and owned vessels are allowed exclusively to conduct the lighterage.

President of Nigerian Ship owners Association, NISA, Olaniyi Labinjo, who disclosed this on Tuesday, July 14, in Lagos, stated that 500,000 Nigerians would also be gainfully employed directly and indirectly.

Speaking at an interactive session with maritime reporters, Labinjo said:‘The government gave us the assurances to allow only Nigerian vessels to conduct the lighterage operations. This is what informed our going out to secure ships for the lighterage through collaboration with the Greeks, Turkish and Americans,” Labinjo said .

He added that the bankers were strongly in support of the deal.