Nigeria Loses $10b Annually To Foreign Ship Chandlers

Nigeria is losing a whopping $10 billion annually to foreign shipping operators due to failure to engage  the indigenous ship chandlers.
A shipping expert and leading industry stakeholder, Dr Emeka Enebeli, disclosed this at an industry roundtable organised by the Maritime Reporters Association of Nigeria at its International Press Centre Apapa, Lagos yesterday. Enebili said the situation was ridiculous and in absolute contravention of the Local Content Act promulgated by the federal government.
According to Enebeli who is also the Trustee/Secretary General, Marine Oil Traders Association of Nigeria, the Nigerian ship chandlers are supposed to be given 95 per cent of business opportunities in the ship chandling industry and other opportunities to render services in the ships. He urged the government to ensure that the local content Act is wholly implemented in order to encourage the participation Nigerians in the maritime, oil and gas sectors effectively.
“The participation of multinational companies in ship chandling has rendered  many Nigerians jobless occasioned by capital flight. I have personally lost about $200,000 dollars to foreign ship owners in the course of business transactions due to unfavourable competition with foreign operators. Our local content laws must be made to work.”
Source: Leadership