MARITIME TRANSPORTATION CRUDE OIL SHIPMENT IN NIGERIA

MARITIME TRANSPORTATION CRUDE OIL SHIPMENT IN NIGERIA

Author by Mr. Babatunde Adeyemi

Language: English

Abstract

It is a well-known fact that Nigeria of today cannot breathe without revenue from the crude oil. In-other words, she must continue to find and produce this “life line” until an alternative is found. She must also find the means of ensuring its uninterrupted flow to international markets, where the commodity commands better attraction and the much valued foreign exchange earnings. Crucial to the achievement of this - however, is the compelling need to be sufficiently equipped in crude oil’ handling facilities, so that regular shipment of the commodity can be guaranteed uninterrupted. Since the general thrust of this discussion is drawn from the need to of achieve a sustainable and efficient Maritime Transport in Nigeria, the paper will be structured in a way to highlight the historical evolution of crude oil as the mainstay of the Nigerian economy, starting with the initial search and discovery in commercial quantity of crude oil, so as to justify the essence of its first shipment, from the Bonny Inshore Terminal in 1958. The port development of the 1970s and the proliferation of crude oil terminals in response to the lifting of the rich resource by the multi-national organizations will also be chronicled through a bird-eye view of the Brass Terminal network. The problems easily associated with the logistics of crude oil movement from well heads to the terminals and finally to the ships, shall be briefly catalogued to narrate’ operational procedure while government control through regulations, statutory surveillance and intervention when considered appropriate will be the icing of the discussion.


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