Nigeria Unity Line Revived

The Federal Government has restored the operating licence of the defunct national carrier, the Nigeria Unity Line (NUL). Director-General of the Bureau of Public Enterprises (BPE), Ms Bolanle Onagoruwa, who disclosed this stated that NUL will consequently be sold to a preferred bidder.

She said the BPE, in collaboration with the Nigerian Maritime Administration and Safety Agency (NIMASA), will soon place advertisements calling for Expressions of Interest (EOI) from prospective investors.

The privatisation agency’s boss, who made the disclosure at the bureau’s management committee meeting early last week, pointed out that NUL’s operating licence as a shipping company/agent with the Nigerian Ports Authority (NPA) had also been revalidated. In addition, all necessary papers and outstanding annual dues with the Corporate Affairs Commission (CAC) had been updated. She noted that in line with the reform programme of the Federal Government, NUL had been slated for privatisation through equity sale. NUL succeeded the Nigerian National Shipping Line (NNSL) as the nation’s national carrier after the demise of the latter in 1996. However, NUL did not fare any better as it grappled with critical operational and administrative challenges until 2005 when the administration of former President Olusegun Obasanjo slated it for privatisation.