James Emejo in Abuja
The Chief of Naval Staff (CNS), Vice Admiral Ibok-Ete Ekwe Ibas, Monday said the Nigerian Navy requires a total sum of $1.3 billion to acquire hardwares to properly secure the country’s territorial waters against crude oil theft and other forms of economic sabotage.
But, he lamented the “substantially progressive decrease” in its budgeted, appropriated and released funds for capital and overhead expenditures in the past five years.
According to him, the proposed funding for maritime safety architecture is expected to enable the Navy acquire a General Purpose Frigate valued at $350 million; Long Endurance Offshore Patrol Vessel valued at $120 million; Medium Endurance OPV estimated at $60 million; Landing Platform Dock worth $350 million and a Landing Ship Tank valued $90 million.
Others include a submarine worth $300 million; a Sea Defence Boat and Naval Helicopter estimated at $10 million and $25 million respectively.
The Naval boss made the disclosure during a presentation at a public hearing organised by the House of Representatives Committees on Maritime Safety, Administration, Education and Nigerian Navy.