The Minister of Marine and Blue Economy, Adegboyega Oyetola has declared Nigeria's intention to halt the practice of granting waivers for foreign ships under the Coastal and Inland Shipping Act of 2003. This announcement, made through his spokesperson Dr. Bolaji Akinola following a meeting in Abuja with representatives from NNPC Shipping, Stena Bulk, and Caverton Offshore, underscores the Minister's commitment to reducing Nigeria's reliance on foreign vessels in its waters.
The meeting coincided with the unveiling of Unity Shipping World, a new collaborative venture between the three companies aimed at building a robust tanker operation for crude oil, refined products, and LNG transport across Nigerian, West African, and international routes.
The Cabotage Act generally restricts coastal shipping to Nigerian-owned, crewed, built, and flagged vessels, but frequent waivers due to limited local capacity have hampered the growth and competitiveness of domestic shipping.
Minister Oyetola criticised this trend, asserting that it has stifled local shipping firms and limited opportunities for Nigerian maritime professionals.
He stated that ending waivers aims to strengthen the maritime sector, create jobs, and boost indigenous participation.
“The era of indiscriminate waivers is ending. We can’t keep weakening local capacity under the guise of temporary foreign assistance.
“It is time to build Nigerian tonnage, support local employment, and give indigenous operators a fair chance to succeed,” Oyetola said.
Oyetola emphasized that the time has come to develop Nigerian shipping capacity, support local employment, and provide fair opportunities for indigenous operators.
To facilitate this shift, he directed NIMASA to commence the disbursement of the Cabotage Vessel Financing Fund, which is intended to assist Nigerian shipowners in acquiring vessels and expanding their operations.
He stressed the urgency of this disbursement as the waiver era concludes. Furthermore, the Minister reiterated the government's plan to establish a national shipping carrier through a public-private partnership to enhance Nigeria's regional maritime influence.
