Global inflation putting a strain on disposable income -NIMASA

Ibekimi Oriamaja Reports.

With global inflation putting a strain on disposable income, the Nigerian Maritime Administration and Safety Agency, NIMASA, has increased the cost of direct sponsorship for cadets currently undergoing foreign training by $2,000 per cadet.

Dr. Bashir Jamoh, Director General of NIMASA, commented on the review, stating that the increase was necessary due to global inflationary trends, which are especially noticeable in the Philippines, India, and other countries where Nigerian cadets are undergoing Certificate of Competency (CoC) Examination training under the National Seafarers Development Programme, NSDP. The sponsorship will pay for training that will result in a Certificate of Competency, or CoC.

“We are not unconcerned about the unexpected global inflationary trend that has impacted the cost of supporting our cadets who are on sponsorship in some schools under the NSDP program,” Jamoh said. Despite the fact that NIMASA paid the tuition, examination fee, and original cost of feeding and lodging in full, with allowance for extra funds as pocket money, the cost of living has clearly increased, particularly in the Philippines, due to global inflation. To address the issues raised by the unexpected price increases, the Agency is collaborating with the Nigerian Embassy in the Philippines.

“We have made both short-term and long-term plans to reduce the impact of inflation on their living standards throughout the program.” Due to inflation, the Agency’s management has approved an additional $2,000 for each cadet as an extra fund. This is a stopgap measure to lessen the impact. I am confident that the students will be contacted by the Nigerian Embassy as soon as the funds are available for distribution. The embassy facilitated a well-coordinated arrangement.”

He revealed that 146 cadets have obtained a sailing license in the Philippines through the NSDP program, with another 134 currently enrolled in the program and another 170 preparing to travel to the Philippines for the exams.