The Council is collaborating with Nigerian Export - Import Bank (NEXIM), to develop a sea link between members of the Joint Development Zone (JDZ) which are Nigeria, Equatorial Guinea, and Sao Tome and Principe.
The Sea link Project will establish a maritime shipping line which will provide cabotage, passenger services and goods haulage among the countries of the JDZ
The project which resulted from a successful comprehensive Technical and Economic feasibility study is aimed at reducing the cost of moving cargo among the countries of the JDZ and increasing maritime and trade activities among them.
The project, when completed will:
- Reduce the cost of moving cargo among the countries of the JDZ and increase maritime and trade activities among the countries by ensuring payment of duty only on goods delivered to the ports of final destination.
- Improve frequency of maritime services between Nigeria and Sao Tome & Principe which will ultimately improve commerce in and around the entire Gulf of Guinea.
- Improve private sector initiative through the provision of efficient sea transport services by giving them competitive edge to exporters and importers
- Reduce transportation costs;
- Eliminate the need for cargo trans-shipment in Europe for Intra-African trade.
- Increase trade volume and improve efficiency in transportation in the Sub-region; and
- Boost economic growth and development for Nigeria