“Crude Oil Shipment Costs Nigeria $700million Monthly” – NISA

The president, Nigeria Indigenous Ship Owners Association, NISA, Aminu Umar, said Nigeria was losing 700 million dollars, about N137.9 billion monthly to dominance of crude oil shipment by foreign shipowners.

Umar made the known in an interview with the News Agency of Nigeria, NAN, on Thursday, April 14 in Lagos on the sideline of the Annual General Meeting of the association.

He urged the Federal Government to grant indigenous shipowners between 10 to 20 per cent allocation in lifting crude oil.

The shipowner said that Nigeria was losing a huge amount of money due to the fact that the foreign shipowners had dominated the transportation of crude oil.

“Almost 70 to 77 crude oil vessels load oil monthly out of Nigeria.

“The foreign shipowners do not employ Nigerians and they do not pay tax.

“What we are telling the Federal Government is to give us the support so that we can take at least 10 per cent of the crude oil vessels operating in Nigerian waters,“ Umar told NAN.

He said that if government could give indigenous shipowners 10 per cent allocation to lift crude oil, they would create jobs for the teeming youths and would retain the proceeds in the nation’s banks.