The Nigerian economy would save about N280.8billion (about $1.8billion) from the operations of indigenous vessels contracted to International Oil Companies (IOCs) operating in the country by June 2012, says the Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Ernest Nwapa.

According to Mr. Nwapa, about 40 vessels owned by Nigerians are to replace those contracted by foreign-owned vessels in line with the marine vessels and rig ownership strategies adopted by the Board pursuant to the provisions of the Nigerian Content development law in the oil and gas industry. Read more: http://premiumtimesng.com/business/4011-economy_to_gain_n281billion_from_indigenous_vessel_charter_opera.html