Stakeholders in the country’s maritime sector have stated that Nigerian National Petroleum Corporation Limited’s reliance on foreign ships for lifting petroleum products is having an adverse impact on local shipowners.
According to him, “The minimum number of people one tanker can take is about 40 to 50. If you employ our youths, I assume they would pay them in hard currency. They would come back to this country and use the money to buy things in our market and that would increase our Gross Domestic Product in terms of inflow of currency.”
Meanwhile, Ilori stressed the need for the country to start engaging Nigerian shipowners to enable them to stay afloat. “I think it is ingenious if Nigerian shipowners are taking loans, and everything over the years and they are indebted in billions of dollars. If NNPC is not giving them cargoes. If such a vessel is idle, they are losing money.
He said that Nigerian shipowners were not being favourably treated because foreign shipowners were taking over their trade, adding that he believed in Nigerian cargoes should be handled by local ships.Ilori also complained about the high-interest rate in the country. “The foreign vessels get funds at lower rates but the Nigerian banks give the Nigerian shipowners loans at very high rates, double digits above 20 per cent. How will they survive? So, that is why we need to have to rethink these issues. I am happy that the Director-General of the Nigerian Maritime Administration and Safety Agency, Dr Bashir Jamoh, is trying his best to help local shipowners.”All rights reserved.
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