The Nigerian Shipowners Association (NISA) has expressed skepticism regarding statements attributed to the Minister of Marine and Blue Economy, made during a recent courtesy call with the Danish Minister of Transportation.
According to reports, the Minister had discussed the potential establishment of a national carrier with the Danish Minister. This is even as the association has kicked against foreign dominance.
In an official statement made available to our correspondent, the President of NISA, Otunba Sola Adewumi stated that he believes the Minister’s comments may have been taken out of context, emphasizing his conviction that the Minister is a staunch advocate for homegrown solutions to the challenges facing the shipping industry.
Adewumi underlined the importance of active participation by Nigerian ship-owners and investors, in accordance with the existing laws governing the sector, including the Cabotage Act and Local Content regulations. He stressed that these laws were meticulously designed to safeguard indigenous shipping for national security.
The NISA President called on the Minister to swiftly mobilize stakeholders within the marine and blue economy sector to work together in seeking lasting solutions to the enduring challenges of the shipping industry. Adewumi stressed the need for strict adherence to Local Content and Cabotage laws, urging avoidance of frivolous waivers that might allow foreign entities to dominate the market.
Speaking further, Adewumi highlighted the necessity for the maritime industry to access intervention funds, similar to other sectors such as power generation and distribution. He cited institutions like the Infrastructure Bank for construction companies and manufacturers, which receive support from the Bank of Industry and other Central Bank of Nigeria (CBN) intervention funds at single-digit interest rates.
Additionally, he called on the Minister to promptly address the disbursement of the Cabotage Vessel Financing Fund (CVFF) and to explore the establishment of a Maritime Bank tailored to the specific requirements of the maritime industry in Nigeria.
