Nigerian ship owners and the Nigerian National Petroleum Company Limited (NNPCL) are set to explore a pooling funding model to ease the financial burden of acquiring ships. This initiative, spearheaded by NNPCL, aims to address challenges in vessel acquisition financing and ensure the availability of Nigerian vessels in the coming years. The pooling system is designed to provide an impartial, transparent, and equal-sharing mechanism for earnings among Nigerian ship owners.
The Managing Director of NNPCL Shipping, Panos Gliatis, proposed this collaboration during a meeting with officials of the Nigerian Chamber of Shipping (NCS). Gratis highlighted the recurring challenge of the non-availability of contracts for ship owners and emphasized the need to address the funding issues collectively.
The NNPC boss stressed the importance of developing human capital in shipping, emphasizing the significant youth population in Nigeria. The President of NCS, Aminu Umar, expressed optimism about the collaborative approach, stating that it could lead to positive changes in the shipping industry.
The President of the Nigeria Shipowners Association (NISA), Sola Adewunmi, called for collaboration with international partners to improve shipping capacity. Adewunmi also pointed out that Nigerian ship owners have faced challenges attracting investors due to the unavailability of jobs in the sector.
Additionally, a former governing board member of the Nigerian Content Development and Monitoring Board (NCDMB), Mina Oforiokuma, highlighted a clause in the Nigerian Content Policy related to shipping labor and services in the affreightment of Nigeria’s petroleum carbon. He urged the NNPCL boss to explore this clause in future plans and strategies.
The collaboration aims to create a more robust and sustainable maritime industry in Nigeria, addressing challenges faced by indigenous ship owners and fostering the development of the shipping sector.
