Boosting Maritime: Fed Govt, Banks Urged to Tackle Shipping Funding Crisis

By Saheed Olatunji, Reporter

Maritime industry stakeholders have urged the Federal Government and commercial institutions to find a lasting solution to the financial bottlenecks hindering the growth of Nigeria’s indigenous shipping business.

Speaking in Lagos today at the annual summit of the Shipping Correspondents Association of Nigeria (SCAN), the group’s President, Moses Ebosele, called on the Federal Government and financial institutions to tackle the barriers limiting local participation in the shipping sector and work toward practical solutions.

He identified high cost of vessel acquisition, maintenance, insurance and maritime operations as major factors compounds the problem.

Details shortly………