A proposed revenue-sharing agreement between the Nigerian Maritime Administration and Safety Agency (NIMASA) and a private firm, Royal Diadem Consults Ltd, has sparked internal concerns over its financial and operational implications.
The agreement, currently awaiting approval from the Federal Executive Council (FEC), would see Royal Diadem Consults receive 13.5% of NIMASA’s total revenue over a 15-year period.
In exchange, the company has proposed to invest N7.54 billion in developing a Maritime Electronic Management System (MEMS), an integrated digital platform aimed at enhancing the agency’s efficiency, transparency, and regulatory compliance.