To enable the Federal Government meet up with this target, the Chief of Naval Staff, Vice Admiral Ishaya Ibrahim stated that the Federal Government, through the Ministry of Defence (MOD), set aside a percentage of the GDP for Maritime Security Equipment Development Fund.Ibrahim stressed that government should also establish Maritime Cabotage Bank to make available maritime-related investment funding.
This request is contained in a communiqué issued at the end of the Chief of Naval Staff Annual Conference (CONSAC) held in Uyo, the Akwa Ibom State Capital.
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