Tag: Local shipping

Coastal, Deep sea Oil & Gas Shipping: Indigenous Shipping Trade Group seeks stake in Nigeria’s oil cargoes

Aminu Imam
Indigenous Shipping Group seek

The Shipping Trade Group  (STG) have sent petition to President Tinubu for intervention  on alleged economic sabotage by top NNPCL officials for collecting a minimum of $20 US Dollar as kickbacks, tagged as commissions  on each barrel of crude oil from foreign ship owners for freighting the export of Nigerian crude oil cargoes and import of fuel products, thereby killing the development of indigenous shipping in Nigeria. According to a chieftain of the Association of Nigerian Licensed Customs Agents, Kayode Fatinto, foreigners control over 90 percent of the nation’s shipbuilding…

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FG to disburse Cabotage funds to assist local shipping operators, says Transport Minister, Sambo

Aminu Imam

The Federal Government is set to disburse the Cabotage Vessel Financing Fund (CVFF) to enable indigenous shipping operators to compete favourably with their foreign counterparts. The Minister of Transportation, Mu’azu Sambo, disclosed this when he visited the National Inland Waterways Authority (NIWA) Area Office in Port Harcourt, Rivers State, on Friday. The CVFF is an intervention fund created by the Federal Government for the development of indigenous shipping capacity. It is meant to enable indigenous shippers to maintain existing vessels or acquire new ones. The ministry stated, in Abuja yesterday,…

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