Shipowners Explore Foreign Partnerships for Fleet Expansion
April 15, 2024
In an effort to bolster ship acquisition within Nigeria, the Nigeria Indigenous Shipowners Association (NISA) has inked a memorandum of understanding with international counterparts to facilitate the procurement of new vessels.
NISA President Sola Adewunmi revealed this during a discussion with The entrepreneurtv. on Sunday, underscoring the importance of a favorable business environment for shipowners and the imminent plans to acquire new ships.
When pressed for details regarding the collaboration, Adewunmi declined to elaborate, stating, “We already have a memorandum of understanding in place.”
Expressing concern over the absence of indigenous shipowners in crude lifting at the Dangote Refinery, Adewunmi questioned the utilization of foreign vessels for all NNPC cargo and crude movements to the new refinery.
He emphasized the imperative of fully implementing the cabotage law, stating, “Our position has always been that cabotage law should be fully implemented to grow indigenous capacity. This is a coastal trade, and the law stipulates that it should be carried out by cabotage vessels.”
Adewunmi stressed the significance of genuine intentions to foster industry growth and generate employment, highlighting the capital-intensive nature of ship acquisition.
Secretary-General of the African Shipowners Association, Mrs. Funmi Folorunso, echoed the sentiment, stating, “Collaboration is an individual decision, and as long as the partnership complies with Nigerian law, it is a commendable decision.”
