Nigeria’s shipping sector: A diverse domestic flag fleet is desirable – Captain Emmanuel Iheanacho

For the shipping sector in Nigeria, there is still a long way to go. A diverse domestic flag fleet is very desirable due to the job creation, technology transfer and general multiplier benefits which would be associated with its establishment.

Such a national maritime infrastructure would manifest through the pursuit of pointed development aspirations following carefully scripted strategies.

Judicious management and use of the Cabotage Vessel Financing Fund (CVFF) would greatly enhance the industry’s development potentials, and the apparent commitment and enthusiasm of the current DG NIMASA should be an added positive factor that should be taken into account by maritime and national transport planning establishment.

Captain Emmanuel Iheanacho is the Chairman and Chief Executive, Genesis Worldwide Shipping, Integrated Oil and Gas Nigeria Ltd.