Business A.M
No Result
View All Result
Sunday, March 8, 2026
  • Login
  • Home
  • Technology
  • Finance
  • Comments
  • Companies
  • Commodities
  • About Us
  • Contact Us
Subscribe
Business A.M
  • Home
  • Technology
  • Finance
  • Comments
  • Companies
  • Commodities
  • About Us
  • Contact Us
No Result
View All Result
Business A.M
No Result
View All Result
Home Frontpage

Shipowner tasks NIMASA on implementation of bold policy banning cabotage vessel importation 

by Admin
July 9, 2019
in Frontpage

By Samson Echenim

Banning of importation of vessels into Nigeria for the purpose of trading in the country’s cabotage waters is the boldest policy the government has ever made in the maritime  sector, Greg Ogbeifun, the chief executive officer of Starsz Marine Services has said.
One of the country’s few surviving shipowners, Ogbeifun however expressed concerns that the government in its usual manner may fail to effectively implement the laudable policy.
The Nigerian government plans to end importation of vessels meant for operation within the country’s waters in a bid to develop its dying shipyards and cabotage trade.
This is the second major policy step the government is taking to end foreign dominance in its waters and create jobs in the maritime sector, after it put restrictions on waivers for foreign ships to trade within cabotage waters.
With 853 kilometres of coastal stretch and over 200 nautical miles down the Atlantic ocean, experts believe that Nigeria’s  maritime potential to create jobs is unlimited, with approximated figures hovering around five million jobs.
But tales of foreign ships taking over local jobs with foreign seafarers on board rule the industry year in year out, despite existence of pro cabotage laws and policies such as the Coastal and Inland Shipping Act, 2003, otherwise known as the Cabotage Act.
Ogbeifun is currently one of the few indigenous shipowners operating in cabotage trade with a meaningful investment.
He said, “The government has come out with that statement and it’s very commendable; very bold. But, we have to understand that it behoves on every one of us to make that happen. Primarily, it behoves on the people who acquire ships from abroad to see this as a positive step towards investing in this country, for this country, for the people of this country, for our economy; and when we talk about this, everybody wants to talk about the ship owners.
“Who are the ship owners? You can think of a company like Starsz, you can think of a company like Marine Platform and many others, but don’t forget that NIMASA is a ship owner, Nigerian Ports Authority (NPA) is a ship owner. So, the shipowners we are talking about are both in public and private sectors.
“Therefore, we have to come together to understand, that this policy that the Government has come out with, laudable as it is, will affect even the government, because the government through NPA is one the biggest buyers of ships in the country.
“Government cannot come out with that policy and tomorrow you hear that NIMASA is ordering for patrol vessels and security patrol vessels from Damen Shipyard or wherever; or that the Nigeria Ports Authority, who as you know, a few months ago, brought in new tug boats built by Damen, will also go back to Damen to still bring in ships from abroad when they have made such a policy statement.
“So, when I read it, I said, this is great! This is because, initially, everybody will first look at the IOCs, who are the main employers of vessels, particularly upstream, and thinking: ‘Wow! What are the Totals and the ExxonMobils or Shells of this world going to do, now that this policy has come out?!’
“But, it is the same thing, like I have just said, what is NPA going to do now? What is NIMASA going to do now?
“I hear about a security contract, to police our waters. But, you can’t police the waters without using boats. Those boats or vessels you are going to use, are they going to be built in this country?
“So, it is a laudable, bold policy; but the implementation is what all of us have to be ready, to contribute to. It is not going to be left only for the government; neither to the IOCs, nor for the ship owners,” he stressed, and noted that the implementation must be seen as a collective responsibility of all.
The shipping expert also spoke on the multiplier benefits of a faithful policy implementation, noting that it would soon dovetail into a vibrant steel industry, with serious explosion in employment opportunities for Nigerians, stressing, “It is beyond just looking at boats!”
He made a separation between ship building and ship repair-yards, from Nigerdock, LADOL, STARZS and others, and highlighted the much they could easily contribute, if well harnessed.
But, he also indicated a need for genuine government support, through desirable taxation regime, maintaining that direct government patronage, via a direct policy pursuit is for now, lacking.
Admin
Admin
Previous Post

Oforiokuma, ARM-Harith CEO, former  LCC chief, joins Africa50 

Next Post

Afreximbank provides $1bn AfCFTA support facility to member countries

Next Post

Afreximbank provides $1bn AfCFTA support facility to member countries

  • Trending
  • Comments
  • Latest
Igbobi alumni raise over N1bn in one week as private capital fills education gap

Igbobi alumni raise over N1bn in one week as private capital fills education gap

February 11, 2026

Glo, Dangote, Airtel, 7 others prequalified to bid for 9Mobile acquisition

November 20, 2017

How UNESCO got it wrong in Africa

May 30, 2017

CBN to issue N1.5bn loan for youth led agric expansion in Plateau

July 29, 2025

6 MLB teams that could use upgrades at the trade deadline

Top NFL Draft picks react to their Madden NFL 16 ratings

Paul Pierce said there was ‘no way’ he could play for Lakers

Arian Foster agrees to buy books for a fan after he asked on Twitter

Nigeria’s credit gap faces new challenger as CBN licenses Apices Finance Company

30 banks clear new capital hurdle under CBN recapitalisation drive

March 7, 2026
Security experts seek Tinubu’s probe into network behind seized Skipper oil tanker 

Security experts seek Tinubu’s probe into network behind seized Skipper oil tanker 

March 7, 2026
Global food prices higher in July on stronger meat, vegetable oil costs

Global food prices rise for first time in five months on cereal, oil gains

March 6, 2026
inDrive retains top download ranking amid expansion into African mobility markets

inDrive rolls out Ramadan Shukran driver appreciation campaign in Abuja

March 6, 2026

Popular News

  • Igbobi alumni raise over N1bn in one week as private capital fills education gap

    Igbobi alumni raise over N1bn in one week as private capital fills education gap

    0 shares
    Share 0 Tweet 0
  • Glo, Dangote, Airtel, 7 others prequalified to bid for 9Mobile acquisition

    0 shares
    Share 0 Tweet 0
  • How UNESCO got it wrong in Africa

    0 shares
    Share 0 Tweet 0
  • CBN to issue N1.5bn loan for youth led agric expansion in Plateau

    0 shares
    Share 0 Tweet 0
  • Elumelu leads corporate mourning after UBA staff die in Afriland Towers fire

    0 shares
    Share 0 Tweet 0
Currently Playing

CNN on Nigeria Aviation

CNN on Nigeria Aviation

Business AM TV

Edeme Kelikume Interview With Business AM TV

Business AM TV

Business A M 2021 Mutual Funds Outlook And Award Promo Video

Business AM TV

Recent News

Nigeria’s credit gap faces new challenger as CBN licenses Apices Finance Company

30 banks clear new capital hurdle under CBN recapitalisation drive

March 7, 2026
Security experts seek Tinubu’s probe into network behind seized Skipper oil tanker 

Security experts seek Tinubu’s probe into network behind seized Skipper oil tanker 

March 7, 2026

Categories

  • Frontpage
  • Analyst Insight
  • Business AM TV
  • Comments
  • Commodities
  • Finance
  • Markets
  • Technology
  • The Business Traveller & Hospitality
  • World Business & Economy

Site Navigation

  • Home
  • About Us
  • Contact Us
  • Privacy & Policy
Business A.M

BusinessAMLive (businessamlive.com) is a leading online business news and information platform focused on providing timely, insightful and comprehensive coverage of economic, financial, and business developments in Nigeria, Africa and around the world.

© 2026 Business A.M

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Technology
  • Finance
  • Comments
  • Companies
  • Commodities
  • About Us
  • Contact Us

© 2026 Business A.M