Shipowners conclude plans to acquire new vessels

…Ask FG to provide a conducive business environment

Tayo ABIOLA

Plans have been concluded by the Nigeria Indigenous Shipowners Association (NISA) to acquire new vessels to compete favourably well with their foreign counterparts.

The President of NISA, Sola Adewunmi who disclosed this added that the association had also signed a memorandum of understanding with foreign counterparts to enable them to acquire new ships.

Adewunmi however, urged the federal government to provide a conducive environment for shipowners to enhance their business.

The NISA president lamented the nonparticipation of indigenous shipowners in crude lifting at Dangote Refinery and wondered why foreign vessels were utilised for all NNPC cargo and crude movement to the new Dangote Refinery.

He harped on the need for the full implementation of Cabotage law saying, “Our position has always been that cabotage law should be fully implemented to grow indigenous capacity.

“This is a coastal trade, and the law says it should be carried out by cabotage vessels. I know the next thing you will hear is that there is no capacity.

“Was Rome built in a day? Must we continue to surrender our rights to foreigners and gradually kill our economy? We have suggested to the authorities what they should do to grow the industry.

“Acquisition of a ship is a highly capital-intensive business, and nobody will go and stake his fund in a venture that will not guarantee adequate returns. There must be a genuine intention to grow the industry and create employment for our jobless population”.