In a bid to revive and reposition Nigeria’s domestic shipping industry, the Nigeria Shipowners’ Association (NISA) has officially launched its new shipping firm “NISA Ocean Transport Limited” and inaugurated a six-member board to steer the affairs of the new company.
The inauguration, which took place on Tuesday in Lagos was presided over by the Chairman of the NISA Board of Trustees (BoT), Chief Isaac Jolapomo, who revealed that the board comprises two members from the association’s BoT, two current executive members, and two general members of the association.
According to Jolapomo, the establishment of the company is NISA’s third attempt at launching a shipping business and this time, the leadership is confident of success given the credibility and experience of the newly appointed board members.
“This is the third time we are attempting this, and we have chosen people who have integrity. We selected Sir Sunny Omatseye and Mr. Tunji Brown from the BoT, President Sola Adewunmi and General Secretary Jibril Rowaye from the executives, and two members, Paul Jegede and Emeka Obiogbulu. Your responsibility is to drive this company to profitability for the association.” Chief Jolapomo said.
He added that the BoT members will serve a three-year tenure, while the executives and general members will have a six-year term. Jolapomo also disclosed plans to amend the association’s constitution to align with the new development and allow for effective governance.
Speaking on behalf of the board, the newly-appointed Chairman of NISA Ocean Transport Limited, Sir Sunny Omatseye, expressed gratitude to the association for entrusting them with the task of leading the company.
“We assure you that we will do our best to keep the NISA flag flying high. Our goal is to operate this company as a competitive international shipping firm and make it one of the best in Nigeria,” Omatseye stated.
He also clarified that no individual would hold a majority share in the company, emphasizing that it is a collective project for the benefit of all NISA members.
“Our intention is to deploy Nigerian-owned ships and gradually reduce the presence of foreign vessels on our coasts. We want Nigerians to take center stage in the maritime industry,” he said.
Omatseye further revealed that the company plans to begin operations with two vessels — a 30,000-tonne tanker and an LPG carrier and it is looking to access funds through the Cabotage Vessel Financing Fund (CVFF) and other financial institutions.
He confirmed that the company has already raised the required 15% equity and is preparing to meet all necessary criteria to secure financing for vessel acquisition.
